You have probably heard that the Affordable Care Act requires most Americans to have health insurance or pay a tax penalty when filing their 2014 taxes – the ones they will file in 2015. Luckily, the majority of Americans — 9 out of 10 to be exact — have health insurance that meets minimum essential coverage requirements, so all they will need to do is to check an extra box on their tax return. That’s it.
If you don’t have insurance, we have a few tools to help you navigate the process easily. You can always check back with the TurboTax blog to get a quick rundown on how the new health care law might affect your taxes, so you are well informed come tax season. If you need to get health insurance, check out TurboTax Health, where we can connect you to affordable insurance options.
We’re also introducing Health Care, Taxes and You: a place dedicated to answering your most pressing questions around health care and taxes. Have a question we haven’t answered? Post your questions in the comment box below, and we will have them answered.