THURSDAY, FEBRUARY 26, 2015
Now that people are well under way preparing their income tax for 2014, many are now realizing the penalty for not having minimum essential health insurance coverage as required by the Affordable Care Act "Obamacare". Even though the open enrollment period has ended, there may be a possibility to still pick up coverage from the Federal Exchange marketplace. We have been informed that if you incurred a Federal Penalty or "shared responsibility payment" on your 2014 tax return, you can apply for coverage through the exchange to avoid penalty for 2015. While this information is new to us, we are still researching the details and would advise you to inquire with an agent on your specific situation.
Adam C. Halm, CFP(R), ChFC(R)