The following is for reference only. It is not legal, financial, or tax advice. It is provided for informational purposes only.
Your membership in Share HealthCare provides a federally certified exemption from the individual mandate requirement of the Affordable Healthcare Act, popularly known as Obamacare. Due to this exemption, you are not required to file Form 8695 in conjunction with your Federal Form 1040.
In every state except Missouri, your voluntary monthly contribution to Share HealthCare may not be claimed as a charitable donation. Missouri residents may claim monthly voluntary contributions as indicated in your state’s tax code.
Members who choose to contribute additional financial gifts above their monthly share amount may claim these donations as tax-deductible.
If you file your taxes online using third-party software, you may be asked questions which pertain to Form 8695. If your state does not have an individual mandate requirement in place at the state level, you may skip these questions, as you are no longer required to file Form 8695.
If you have additional questions, please consult our member services representatives or a qualified attorney with knowledge of both the Affordable Care Act and your state’s tax code. Tax regulations vary by state.