Federal Government Could Extend Open Insurance Enrollment To April 15

Image courtesy of (rayovolks)

2014 tax returns are the first ones that American taxpayers are filing since the health insurance subsidies, mandate, and penalties of the Affordable Care Act have come into effect. Included in our tax returns this year will be a penalty of 1% of income for people who don’t have health insurance that provides a minimum level of coverage. That penalty is taking some people by surprise.

The problem is that the deadline to sign up for insurance coverage is February 15, leaving people without insurance without an alternative option if they’d rather not pay a penalty that’s twice as big (2% of income) next year. One obvious solution is for the government to extend the open enrollment period, and the relevant authorities are considering doing just that.

At an event in Texas today, Health and Human Services Secretary Sylvia Mathews Burwell told the reporters that her agency will let the public know by the end of February if the open enrollment period will indeed be extended for people who don’t yet realize what kind of penalty they’ll be facing when they file their taxes in 2016.

Extra Obamacare Sign-Up Time Mulled to Help Taxpayers Avoid Fine [Bloomberg Business]

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