No more – “I’ll do it next week” or “I’ll get to it later.” The deadline to sign up for health insurance through the Affordable Care Act is tomorrow.
You must enroll by December 15th for your coverage to begin on January 1st and you must be insured by January 31st to avoid a hefty fine. And unlike the past….the government insists there will not be a deadline extension this year.
In a post published December 7 on the Centers for Medicare & Medicaid Services blog, Healthcare.gov CEO Kevin Counihan said that the government would not be offering an extension. Since 2015 was the first year that people without insurance had to pay a tax penalty, the Obama administration decided to give those people a special enrollment period until April 30 to sign up. In 2016, the uninsured won’t get that chance.
The fine for the uninsured is going up in 2016. According to CNBC, the penalty next year will be $695 per adult or 2.5 percent of your household income — whichever is higher. That is significantly more than the 2015 fine of $325 or 2 percent of your annual household income. The average fine is expected to be around $1,000.
Most Americans get insurance from their employers, their spouses, parents, Medicare, or Medicaid – so they don’t have to worry about the coming deadlines. But for those who get insurance on their own, it’s crunch time. The deadline if you want your insurance to begin on January 1st is tomorrow, and the deadline for coverage that would begin later in the year is January 31st.
For more information, you can visit Healthcare.gov and select Arizona…..the portal will send you to the right website.