What if a taxpayer lacks coverage for four or more consecutive months?
Taxpayers with four or more consecutive months without insurance will need to determine if they had access to affordable health insurance, either through an employer, the government or on their own. Example: Someone had insurance from January through June and was without coverage from July through December. July, August and September are within the permitted lapse period and are penalty free. However, there may be a penalty for October, November and December if insurance is deemed affordable.
Related Questions
- The law states that an eligible dependent may continue coverage for up to 12 months. Are we going to cover the entire 12 months, as required by the mandate?
- Member must have a payment for the past six (6) months. How can OFWs register under the Mandatory Coverage (Pag-IBIG 1)?
- What if a taxpayer lacks coverage for four or more consecutive months?
