Will I be penalized on my tax returns?

Basically as the title asks I worked at this job for the duration 8/07/17 - 9/28/2018 and up until 7/31/2018 I had a medical card for health insurance until I made too much money and It was discontinued. Now I know you have a deadline of 3 months to apply to get another health insurance or you will be penalized on your tax returns, however because I quit on 9/28 which was before the three months (10/29/2018) and I did not apply for another health insurance and currently do not have one, will I be penalized for the months of August - December or November and December or not penalized at all? If someone could explain this I would greatly appreciate it. Also I will be filing it as dependant (parents will be claiming me) if that is of any help.

Answers

A Hunch

You have 60 days to purchase insurance after losing coverage. After 60 days you can't purchase other coverage for the year. If you are without coverage for 3 months or more you are fined for all months without coverage. You were without coverage August - December and will be fined for those months.

Kevin

That's true, however that is only for when you are filing in 2020 for the year of 2019. The penalty is still in effect for the year of 2018 meaning if someone didn't have health insurance for over 3 months altogether for the year of 2018 they would be penalized for it. However in my case I'm still unsure.

CYBERMUM5

It was my understanding that if you don't have insurance for 2019 you will not be penalized. If you didn't have it last year (2018) you will be penalized.

StephenWeinstein

You personally would not be penalized on your tax returns. Instead, your parents would be penalized on their tax returns.

I think the penalty aspect stopped. There is no penalty for not having insurance anymore.

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