The affordable care act includes the individual shared responsibility provision and the premium tax credit that may affect your tax return the individual shared responsibility provision requires you your spouse and your dependents to have qualifying health insurance for the entire year report a health coverage exemption or make a payment when you file. Many people already have qualifying health care coverage and do not need to do anything more others may qualify for exemptions or may make payments when they file next year the premium tax credit the basics affordable care act what to expect when filing your tax return. For plan years through 2018 if you can afford health insurance but choose not to buy it you may pay a fee called the individual shared responsibility payment the fee is sometimes called the penalty fine or individual mandate. The penalty associated with the affordable care acts acas individual mandate also known as the acts individual shared responsibility provision has been reduced to 0 beginning jan 1 2019 this occurs as part of the tax reform bill signed into law by president trump on dec 22 2017
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