Health Insurance Hardship Exemption

There is a provision in the healthcare law that allows individuals to go without insurance and avoid the tax if those individuals can show that purchasing the insurance would be an economic hardship.  Those seeking this exemption must fill out a multi-page form plus required supporting documentation before filing the tax return.  But once that is done, it is okay to go ahead and file and enter “pending” in  the 8965 form of the tax return while the exchange processes the application.  Not sure if traditional taxpayer software will allow for the entry, but quite frankly, in this situation, a taxpayer might be better of seeking assistance from a preparer anyway.

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