Do You Owe The Health Insurance Tax Penalty Fee?

Covered CA Special Enrollment Are you one of the approximately 600,000 or more Californians expected to owe the health insurance tax penalty fee on their 2014 Tax Return? In 2015, the fee will be increased to $325 per person or 2% of your income, whichever is greater. These amounts can really add up, leaving many people disappointed when they find they owe large amounts of money at tax time, as opposed to receiving a tax refund and all for not having health insurance. Insurance is not only a good thing for ones health, as you can see it is also a smart financial choice. The good news is that if you owe the fee for 2014, the government has extended the enrollment period to April 30 to help you owing it next year.

Over 10 million people have applied for Health Insurance through the Health Marketplace and 8 out of 10 applicants are receiving help on paying their premiums. Many applicants meet the criteria to get subsidies and often find that the plans offered through the Health Marketplace are better and more affordable than the plans offered by their employer! The health plans offered in the Health Marketplace are excellent, offered by the most prominent health insurance companies in the business. Depending on where you live, some of the choices include Blue Cross/ Anthem, Sharp, Kaiser Permanente and Healthnet to name a few, depending on your area of residence. The plans offered are available on all different levels of coverage. You can purchase a premium plan, all the way down to a basic one and even the bare minimum of coverage for a discounted rate. The government has worked with the insurance companies to develop plans that will be affordable and accessible to every type of customer.

At Covered California, we understand the types of Insurance plans offered in California and can help pinpoint the best plan to fit your lifestyle. We have some of the best insurance agents in the business who understand health insurance, the subsidies available as well as the enrollment process for enrolling in the Health Marketplace. Many people find that the application process can be cumbersome and confusing and decide to give up. Don’t give up because we are here to help you Free of Charge find the best plans for you and your loved ones.

Don’t risk a day without coverage! The enrollment period has also been extended to April 30 for individuals with certain life changes such as marital status, having a child, child aging off of a plan, relocation and COBRA coverage expiring. At Affordable California, we have made the application process easy and help you get covered as fast as possible. Don’t risk owing the health insurance tax penalty fee for 2015 and get enrolled today. It might be the best choice you make this year!

AUTHOR - Ali Nagy