Impacted Individuals and Families Can Sign Up For Coverage March 1 – April 30
NY State of Health has announced a special enrollment period (SEP) for individuals and families who had to pay a federal penalty for 2014 and had not been aware or had not understood that they would have to pay a penalty for not having health insurance coverage. The SEP will start on March 1 and end at 11:59 p.m. on April 30, 2015.
The Affordable Care Act imposes federal tax penalties on individuals who do not have health coverage. The 2015 penalty for those who are uninsured and do not have an exemption will be $325 per adult or two percent of income, whichever is greater. The 2016 increase will be $695 per adult or two-and-a-half percent of income, whichever is greater.
To be eligible for this SEP, individuals must attest that:
- when they filed their 2014 federal tax return, they paid a penalty for not having health insurance in 2014,
- they first became aware of or understood the implications of not having health insurance in 2014 when they filed their federal tax return.
New Yorkers need be aware that they will not be able to purchase coverage during the remainder of 2015. Consumers may be subject to a federal tax penalty when they file their 2015 federal income taxes if:
- they do not enroll during this period
- do not meet the criteria for other SEPs
Individuals who are eligible for Medicaid and Child Health Plus can continue to enroll throughout the year.