The short answer is NO. The Internal Revenue will grant an exemption for the penalty tax as long as you enroll in coverage during your employer’s 2014 open enrollment period. Since health insurance became mandatory on January 1, 2014, the penalty exemption is available for people whose employer-sponsored plan has an open enrollment window that does not align with a calendar year. The issue really came about because, for this
How Much Penalty Will I Pay if I Don’t Get Health Insurance?
The individual responsibility clause of the Affordable Care Act (ACA), also known as the individual mandate, requires all Americans to have health insurance by January 1, 2014, or pay a penalty tax. How Much Will the Penalty Be for not Having Health Insurance? You may have heard the figure $95 per person. That is the basic penalty in 2014 for an unmarried individual, earning less than $19,500/year, with no dependents.
