IRS Notices Going Out to Uninsured to Sign up for Health Insurance
Posted: January 26, 2017
by Wendy Barnett
Uninsured Californian’s are receiving notices from the IRS urging them to get health insurance so that they will not have to pay a tax penalty. Notices went out in December ’16 and January ’17; and are the first time the IRS is reaching out to uninsured consumers since the Affordable Care Act went into effect. Consumers are being reminded that they can still apply for Obama Care during the annual Open Enrollment Period to avoid paying a tax penalty or the “Individual Shared Responsibility Payment” again.
Open Enrollment for Covered California
Open Enrollment is the only time you can enroll for your health insurance unless you have a Qualifying Life Event. This year Covered CA’s Open Enrollment is from November 1, 2016 through Jan. 31, 2017. That’s why the reminder notices are going out in December and January. Now is the time for uninsured Californian’s to apply. If they don’t get their coverage in place this month, they will have to go the whole year without insurance and be subject to a tax penalty again.
For important information about Open Enrollment including deadline dates to apply, check out Open Enrollment for Covered California is not Over!
Covered California
Californian’s can shop for health insurance through their state’s exchange, Covered California. Here they can compare plans apples to apples and find out if they qualify for a tax credit to help lower their monthly insurance bill.
Visit us online at HealthforCA.com where our certified Covered CA health insurance agents will be available to assist you through the enrollment process or to answer any of your questions.
Avoid the Penalty
For the 2017 benefit year, the penalty for not having health insurance is:
- At least $695 per adult
- And at least $347 per child
- Or 2.5% of your household income
- Whichever is greater
The IRS has more information on the Individual Shared Responsibility Provision that will help you understand how your penalty is calculated and find out what maximum amount you may have to pay.