Health Care

Affordable Care Act Update: Enrollment and Coverage Deadlines Clarified

Written by TurboTaxLisa
Published Oct 25, 2013
1 min read

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.

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Lisa has over 20 years of experience in tax preparation. Her success is attributed to being able to interpret tax laws and help clients better understand them. She has held positions as a public auditor, controller, and operations manager. Lisa has appeared on the Steve Harvey Show, the Ellen Show, and major news broadcast to break down tax laws and help taxpayers understand what tax laws mean to them. For Lisa, getting timely and accurate information out to taxpayers to help them keep more of their money is paramount. More from TurboTaxLisa