Most Americans must have health insurance. It’s the law. But as the 2014 tax filing season gets underway, you may be caught off guard by an extra tax of $95 or more due with your 2014 tax return. That’s because if you went for three consecutive months or more during 2014 without health insurance, you will be hit with a penalty tax (unless you are exempt). Here is the amount
Under the Affordable Care Act (ACA), open enrollment for 2014 health insurance runs through March 31, 2014. We are well into February. If you have not yet enrolled in coverage, you may need some convincing as to why you should not wait until the last minute. Here are three compelling reasons to enroll in health insurance before March 31: Avoid the Rush If you think back to the days leading
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.