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Health and Medical Tax Topics

Tax Reform and Healthcare

Thanks to tax reform, starting in 2019, the federal penalty for not having health insurance will be $0.

Before tax reform was passed, if you did not have health insurance coverage or qualify for an exemption, you were required to pay a penalty on your tax return. In 2016, as many as 4 million taxpayers paid the penalty. 

Some states are assessing the penalty on taxpayers without health insurance so check with your state on their requirements.

Ask a Tax Pro

Are there additional standard deductions for the aged, blind, or others?
Yes, the additional standard deduction amount for the aged or the blind is $1,400. The additional standard deduction increases to $1,750 for unmarried taxpayers. The standard deduction amount for an individual who may be claimed as a dependent by another taxpayer cannot exceed $1,150, or the sum of $400 and the individual’s earned income.

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