News
2015 Exchange Coverage Still Available
Posted 02.23.15
Taxpayers facing the new federal tax penalty for not having health insurance in 2014 will have an additional opportunity to purchase health insurance in 2015.
As The Washington Post reports, up to 6 million Americans are expected to face the penalty for not having health insurance in 2014. Individuals residing in states that use the Healthcare.gov enrollment portal (including New Hampshire) can take advantage of a special enrollment period, between March 15, 2015 and April 30th, 2015, to purchase individual health insurance. States that have their own insurance marketplace have the choice of whether or not to offer this special enrollment period.
“We recognize that this is the first tax filing season where consumers may have to pay a fee or claim an exemption for not having health insurance coverage,” said Centers for Medicare & Medicaid Services Administrator Marilyn Tavenner. “Our priority is to make sure consumers understand the new requirement to enroll in health coverage and to provide those who were not aware or did not understand the requirement with an opportunity to enroll in affordable coverage this year.”
The penalty for being uninsured in 2014 starts at $95 or one percent of annual household income, whichever is greater. The penalty in 2015 increases to $325 or two percent of annual income, whichever is greater.
To qualify for this special enrollment period, individuals must attest:
- They are not enrolled in coverage through the Exchange for 2015,
- When they filed their 2014 tax return they paid the fee for not having health coverage in 2014, and
- They first became aware of, or understood the implications of, the Shared Responsibility Payment after the end of open enrollment (February 15, 2015) in connection with preparing their 2014 taxes.
Consumers seeking to take advantage of the special enrollment period can find out if they are eligible by calling the NEEBCo Marketplace at 888-284-5955 or email marketplace@neebco.com.