Getting Hit With the Affordable Care Act Penalty
A single-income family could hit a snag at tax time if the working spouse didn’t pay for health coverage for all members of his or her family. The Affordable Care Act — also known as Obamacare — requires everyone in a household to have minimum essential coverage, or pay a penalty when filing a tax return, said Du Val.
So, if you thought you were saving money by not including your spouse on your policy, you’ll pay for it at tax time. Du Val said he’s seen taxpayers pay penalties of more than $1,000.