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New Email Scam Mimics IRS "Where's My
Refund"
Individuals will need proof of health
insurance by December 31, 2007
The recent Massachusetts Health Care Reform Law has imposed
new mandatory requirements on individual taxpayers and their health insurance
coverage.
Individuals age 18 and over (with some exceptions) are now
required to obtain and maintain health insurance. If your employer has 11 or
more full time employees they are generally required to offer health insurance
coverage to their employees.
If you do not have proof of health insurance coverage by
December 31, 2007 you will lose your personal exemption on your
Massachusetts individual return for your 2007 filing. Failure to obtain health
insurance in 2008 will result in a fine for each month you do not have
coverage.
If you do not have health insurance coverage, you may
obtain coverage through the state. Please visit www.mahealthconnector.org for a
review on policy coverage types. This should be done as soon as possible to
ensure getting coverage by December.
If you do already have health insurance coverage, you will
receive a Form 1099-HC from your insurance provider some time in early 2008.
Please save this form with your important tax papers and include in your tax
organizer for your 2007 return.
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