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A couple common questions related to taxes are whether Sharing is Deductible and whether membership in Samaritan Ministries meets the Affordable Care Act Insurance Coverage requirement.  Of course, we would always ask you to consult with your tax professional to ensure your specific scenario is handled correctly but here are some quick answers:

 

Is it deductible? 

The monthly share that you send directly to another member is not a tax deduction.  It is seen as a personal gift much like a birthday or Christmas gift.  However, additional giving directly to Samaritan Ministries is deductible.  Also if you give to a Special Prayer Need by sending the funds through Samaritan (instead of directly to the member) it can be claimed as a deduction.  If you are receiving shares to pay your medical bills, the money you receive is also not viewed as income.

What about the ACA? 

Members of Samaritan Ministries are exempt from the federal tax penalty on those who don’t have insurance.  Each year around tax filing time Samaritan Ministries sends out a reminder to all members to print the IRS form 8965 from their website to submit with your tax forms to claim the exemption.

Healthcare Sharing Samaritan

Tax Time!

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