Second, it would require people to purchase a specific service that would be heavily regulated by the federal government. This statement from a 1994 Congressional Budget Office Memorandum remains true today.Yet, all of the leading House and Senate health-care reform bills being debated in Congress require Americans to either secure or purchase health insurance with a particular threshold of coverage, estimated by CBO to cost up to ,000 per year for a typical family. This personal mandate to enter into a contract with a private health insurance company is enforced through civil and criminal tax penalties in section 501 of the House bill and with a freestanding mandate and equally questionable civil tax penalties in sections 501 and 513 of the pending Senate bill. The purpose of this compulsory contract, coupled with the arbitrary price ratios and controls, is to require many people to buy artificially high-priced policies to subsidize coverage for others as well as an industry saddled with other government costs and regulations.Starting this weekend, lenders nationwide will be required to inform mortgage applicants that they can receive a free copy of whatever appraisals, reviews, computer valuations and other data are used in the transaction.
This contrasts with the current system, where lenders don’t have to provide you a copy of the appraisal unless you request it.
“From a consumer perspective, even though it’s kind of a burden to go through the process, it makes sense to get the hardship exemption certificate, to be safe,” says Judith Solomon, vice president for health policy at the Center on Budget and Policy Priorities. If you live abroad for at least 330 days during a 12-month period, you aren’t required to have coverage in the States. The IRS may offset your income tax refund to collect the penalty, but that’s about it.
Unlike other situations where the tax agency can garnish wages or file liens to collect unpaid taxes, the health law prohibits these activities in cases where people don’t pay the penalty for not having insurance.
For a more complete list go to the exemptions page at or the questions and answers page on shared responsibilities provisions on the IRS website. If you believe you may be eligible for an exemption for financial reasons, experts recommend filling out the paperwork now, if possible, based on your current income and other information.
You can claim some of the exemptions when you file your tax return in 2015, but for others, you will have to complete an exemption application available at