April 30 2015 Special Tax Enrollment Deadline

April 30 Deadline Montgomery Tx Special Tax Enrollment

April 30th is the Deadline if you need health insurance coverage in Montgomery Texas.  This deadline is because of a Special Tax Enrollment Period Extension for Coverage by CMS and IRS.

CMS announced that Eligible consumers have until April 30 to enroll in coverage, using this special enrollment period (SEP).  This special tax enrollment period is designed to allow  those individuals and families who were unaware or didn’t understand the implications of this new requirement the opportunity to get covered for the remainder of the year and avoid additional fees for 2015.

For those people who are eligible, CMS will provide consumers with an opportunity to purchase health insurance coverage from March 15 to April 30. If consumers do not purchase coverage for 2015 during this special tax enrollment period, they may have to pay a fee when they file their 2015 income taxes.

Those eligible for this special tax enrollment period live in states with a Federally-facilitated Marketplace and:

  • Currently are not enrolled in coverage through the FFM for 2015
  • Attest that when they filed their 2014 tax return they paid the fee for not having health coverage in 2014, and
  • Attest that they first became aware of, or understood the implications of, the Shared Responsibility Payment after the end of open enrollment (February 15, 2015) in connection with preparing their 2014 taxes.

The special tax enrollment period will begin on March 15, 2015 and end at 11:59 pm E.S.T. on April 30, 2015. If a consumer enrolls in coverage before the 15th of the month, coverage will be effective on the first day of the following month.

This year’s tax season is the first time individuals and families will be asked to provide basic information regarding their health coverage on their tax returns. Individuals who could not afford coverage or met other conditions may be eligible to receive an exemption for 2014.

Most taxpayers,  will only need to check a box when they file their taxes to indicate that they had health coverage in 2014 through their employer.  Other forms of “minimum essential coverage” are Medicare, Medicaid, veterans care or other qualified health coverage like individual coverage.  About one-quarter of the taxpayers or 10% – 20% will take different steps. It is expected that those taxpayers were uninsured for all or part of 2014 and will qualify for an exemption from the requirement to have coverage.   A small fraction, CMS estimates 2% – 4% of those will pay a fee because they made a choice to not obtain coverage and are not eligible for an exemption.

If you do not qualify for an exemption, but went without coverage for 2014 click here to see what your estimated fee would be.

If you need coverage and you are not in Montgomery Texas  click here.

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