Affordable Care Act
Know your responsibilities or you could get penalized. Everyone is now required to have some measure of healthcare or money WILL be taken out of your tax return to contribute your share to health care.
Know these important dates for Open Enrollment for the Health Insurance Marketplace:
- Nov. 1, 2015 Enrollment begins
- Dec. 15, 2015 Last day to enroll or change plans for new coverage to start January 1, 2016
- January 1, 2016: 2016 coverage starts
- January 15, 2016: Last day to enroll in or change plans for new coverage to start February 1, 2016
- January 31, 2016: 2016 Open Enrollment ends. Enrollments or changes between January 16 and January 31 take effect March 1, 2016.
If you don’t have coverage in 2016, you’ll pay a penalty of either 2.5% of your income, or $695 per adult ($347.50 per child) — whichever is higher, unless you qualify for certain exemptions.
If you or any member of your family did NOT have health insurance any part of 2015, let Alliance Tax Preparation figure out how to help. That is what WE DO!
If you have any questions prior to that feel free to give us a call.