The Affordable Care Act (ACA — otherwise known as “Obamacare”) has been front-and-center in the news this month, first for its role in the recent record-long, 16-day shutdown of the US government, and now for the technical glitches that have plagued the online federal health insurance exchange since it opened on October 1.
This week the Obama administration announced a 6-week extension of the deadline for signing up for health coverage.
What exactly does this mean?
The extended deadline means that consumers will not be taxed for not having coverage, as long as they sign up by March 31, 2014. Originally, that date was February 15, 2014.
We should point out — the requirement for most Americans to have health insurance by January 1, 2014 (known as the individual mandate) has not been delayed.
What the extension does do is allow anyone who purchases coverage during the entire open enrollment period (October 1, 2013 through March 31, 2014) to not face a penalty tax for the time after January 1 that they may have spent uncovered.
Really not much of a change!
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