Open enrollment ended February 15, 2015 but last minute shoppers have until April 30 to get covered and avoid the fee, if they don’t have a health plan yet.
Here is the deal:
- To qualify for this “special enrollment period” you have to have owed the fee for not having health coverage this year. It doesn’t matter if you took an exemption using the 8965 form, or if you didn’t file taxes, it just matters that you would have owed it (not having coverage for at least a month last year). Just attest to owing the fee when you go to sign up.
- You also have to not have coverage yet this year.
- If the above two don’t apply, then look into other qualifying life events via special enrollment.
- If you miss this last chance then you won’t have coverage options for the rest of the year, and you’ll owe the new higher 2015 fee.
- Unfortunately for those who don’t use healthcare.gov, there are a few states that cut off the deadline early. For example Washington state allowed anyone to enroll, but only up until the 17th. All of this being said, if you don’t have coverage you really should just go and check HealthCare.Gov. They are going to point you in the right direction.
In 2015, the Individual Shared Responsibility fee for not having insurance is $325 per adult and $162.50 per child (up to $975 for a family) or 2% of your taxable income – whichever is greater. The monthly fee is 1/12 of the total fee for each month you don’t have coverage or an exemption. See Individual mandate for more details on the fee.