Confirming that I understand this link correctly about paying taxes on every month I was uninsured, and that nothing has been changed in the last week.

I went one month without healthcare when changing jobs (they didn't cover until I had been employed for a full 30 days). My income at $300K means I pay $3000 a year for no coverage multiplied by 1/12, meaning that I owe $250 based on the below:

If you’re uninsured for just part of the year, 1/12 of the yearly penalty applies to each month you’re uninsured.

Is am I correct, and to avoid this fee, do I have to temporarily sign up for coverage just for a month while waiting, or is there a way to negotiate this with an employer?

  • 2
    You should have signed up anyway. Something could have happened to you that month. – Loren Pechtel Mar 15 '15 at 19:06

Generally you should have insurance all the time - you never know what may happen. When you leave your job, you have the option of continuing the plan you had with your employer under COBRA (you pay your own premiums) until the new employer's plan kicks in.

However, in case of a short gap of up to 2 months, there's an exemption from the penalty. Read here and see if it applies to you.

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.