This year, you should be aware of the Individual Shared Responsibility Provision of the Affordable Care Act, especially when you file your tax return.

This provision requires every taxpayer to be covered by a qualifying health care plan every month of the tax year, unless they qualify for a coverage exemption. You also have the option of making an Individual Shared Responsibility payment at the time of tax filing. If you’ve had qualifying coverage for the entire year, you’ll only have to check a box on the tax form. Nothing more will be required, though it’s important to remember that you are responsible for making sure you and any dependents you claim have coverage.

Exemptions exist for those who aren’t covered by a qualifying plan AND meet certain criteria. Many of these exemptions are able to be claimed via your tax return, however, some have to be claimed through the Marketplace. Those who are exempt should file Form 8965, Health Coverage Exemptions, and a new form available from the IRS, with their completed tax return.

The Individual Shared Responsibility Provision requires non-exempt taxpayers who can afford health coverage but opt not to purchase any to make a payment as part of the Affordable Care Act rules. The shared responsibility payment is calculated using Form 8965 and its included instructions.

No matter what your health care coverage status is, you easily file your taxes electronically. Whether you have a professional prepare your taxes, you claim an exemption for coverage, opt to make the individual shared responsibility payment, or you just check the box indicating that you had coverage, electronic filing makes tax time easy. Using special software for tax preparation and filing can ensure your tax return is filing accurately and efficiently.