How To Identify Tricare On Tax Forms
This Obamacare requirement includes Tricare Standard and Tricare for Life, two programs Guard members qualify for in retirement.
Ever since my colleague Amy Bushatz wrote about Tricare users needing to tick the correct box on their 2014 federal income tax forms to reflect that fact that they have Tricare health insurance, her mailbox has been out of control with questions on how to do this.
The new Affordable Care Act has a provision that penalizes taxpayers who do not have health insurance and choose not to purchase health insurance via the new health care exchanges. These penalties are happening via the federal income tax return. If you have qualified health insurance, then you show that on your tax return. Unfortunately, the line is small, the labelling is poor, and the instructions are slim.
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