Affordable Care Act Update: Enrollment and Coverage Deadlines Clarified

Health Care iStock_000019170582XSmall

On October 23, the Obama administration made an announcement that gives uninsured Americans who purchase health insurance through the Health Insurance Marketplace until March 31, 2014 to enroll in or sign up for a health insurance plan and clears up questions regarding the timeline  when insurance coverage needs to kick in to avoid a tax penalty.

The confusion has been whether the uninsured need to be covered by March 31, 2014 or if they have to be signed up or enrolled in a plan by then, since it takes time for coverage to take effect after enrollment.

The administration clarified Wednesday, that individuals without health insurance do not need to be covered by March 31, 2014, they just need to enroll in or sign up for a plan through the Health Insurance Marketplace by then to avoid a tax penalty on their 2014 taxes filed in 2015.

Check back with the blog for more up to date information regarding the health care law.

TurboTax is here to help explain health care reform and how it affects you and your taxes, so that you can make the best decision for your health and finances.

Have specific questions about how this impacts you?  Get  health care answers in our TurboTax community.

Comments (3) Leave your comment

  1. Is there a limit on what you can tithe to the church? If so how can I figure it from my salary? We have done this in past and not sure we got full benefit. Thank you.

Leave a Reply