Today is April 15, which means that we have finally reached the deadline declaration deposit. Today is the first day that many Americans will feel the effect costly to go uninsured. Under the Affordable Care Act, most Americans must have health insurance coverage or face a fine. 
Although you still have a few weeks to take advantage of the extension of the possibility of special registration fee and avoid the fine for next year, we'll take a look at what could happen if you choose to completely give up the cover.
What is the tax penalty to be insured?
If you could afford health insurance but chose not to include in 2014 the coverage, you probably saw a heavy fine appear on your tax return. This could be as much as 1 percent of your income. The tax penalty for not having health insurance in 2016 will be 2.5 percent of household income or $ 695 for each adult, whichever is greater. The fine should continue to increase each year.
How do I pay the tax penalty?
You will have to pay to be insured on the federal income tax return you file for the year that you do not have a health insurance cover. If you do not have coverage in 2014, you must have filed Form 8965. This form allows you to request an exemption from the requirement to have insurance or to calculate your penalty for the months you are not cutlery.
Can I still Medicare?
Fortunately, there is still time to avoid the penalty tax for next year. Thank you for an enrollment extension announced recently, you may have the chance to enroll in coverage through April 30. It is also possible that you may qualify for an exemption, which means that you will not get coverage and not want to face a fine.
How do I start
If you're still not sure, talk with one of the licensed GoHealth Insurance Advisors today to find the best health plan? for you. Call (888) 322-7557 to speak directly with a counselor, or start shopping online.
0 Komentar