Found yourself having to pay a tax penalty for not having insurance in 2014?
March 06, 2015 at 7:38 AM
The Centers for Medicare & Medicaid Services (CMS) announced a special enrollment period (SEP) for individuals and families who did not have health coverage in 2014 and are subject to the fee or “shared responsibility payment” when they file their 2014 taxes in states which use the Federally-facilitated Marketplaces (FFM). This special enrollment period will allow those individuals and families who were unaware or didn’t understand the implications of this new requirement to enroll in 2015 health insurance coverage through the FFM – to avoid the penalty for the next tax season.
For those who were unaware or didn’t understand the implications of the fee for not enrolling in coverage, CMS will provide consumers with an opportunity to purchase health insurance coverage from March 15 to April 30, 2015. If consumers do not purchase coverage for 2015 during this special enrollment period, they may have to pay a fee when they file their 2015 income taxes.
Those eligible for this special enrollment period live in states with a Federally-facilitated Marketplace (Indiana has a Federally-facilitated Marketplace) and:
Currently are not enrolled in coverage through the FFM for 2015.
The special enrollment period will begin on March 15, 2015 and end at 11:59 pm E.S.T. on April 30, 2015. If you enroll in coverage before the 15th of the month, your coverage will be effective on the first day of the following month.
Nearly 9 out of 10 folks that sign-up for coverage get financial help to make the insurance affordable.
To help you navigate this new opportunity to get affordable coverage, ASPIN Health navigators are available to come meet with you. If you would like help or would like to ask questions about Health insurance on the Marketplace or about HIP 2.0 call the ASPIN Health Navigator Call Center at 877-313-7215 or visit the website at www.aspinhealthnavigator.org.