What are Health Insurance Discount Options in the Marketplace?

Health Care

If you already have health insurance through an employer, Medicare, Medicaid, or your parents then you probably already met the requirement to have minimum essential health insurance coverage under the Affordable Care Act.  But what if you didn’t purchase health insurance to meet the new 2014 requirement?  Find out what your health care options are by persona with our infographic.  You may be eligible for a discount or subsidy when you purchase health insurance in the Marketplace during open enrollment beginning November 15, 2014 or if you qualify for a special enrollment period.

More questions about the new health care law?  As with all tax laws, TurboTax has you covered.  TurboTax Health can answer your questions about whether or not the new health care law impacts you and your taxes.

Comments (6) Leave your comment

  1. Did not get insurance this year. I went to market place to find info on the penalty exemption. It says to fill out a hardship form and mail in 2 weeks before filling taxes. If approved they will send me a number to put on my tax forms. Will turbo tax have a place to put the number when I fill out my taxes this year?

    1. Hi Tyler,
      TurboTax will support all the various requiements of the ACA for individuals, including the penalty exemption.
      Mary Ellen

    1. You should be able to apply on your marketplace for coverage. The subsidy will be dependent on your household income and the coverage you have.

    2. The subsidy is dependent on your household income and your coverage. You should qualify to purchase coverage on the exchange because of your life event, but you will have to calculate your subsidy based on your income for the year.

    3. Andrea,
      Subsidies require that you meet income requirements (household income must be between 100% and 400% of the poverty level for your state), and purchase your insurance through the exchange.

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