Question

I was covered by my parents’ health insurance until September 2020, and then I enrolled in my own health insurance plan. My insurance is a HDHP, and I have a HSA. Will I owe a health insurance penalty for failure to maintain coverage?

Answer

You won’t be subject to a health insurance penalty if all of these are true:

  • You established your own coverage within three months after you lost coverage under your parents’ plan.
  • You didn’t establish the health savings account (HSA) until the high-deductible health plan (HDHP) was in place. Also, you only contributed to it while the HDHP was in place.
  • You’ve remained covered only by the HDHP and other permitted coverage.

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