If you missed the December 15, 2015 deadline to enroll for health insurance through the Affordable Care Act Federal Marketplace, all is not lost. That was the deadline for health coverage beginning January 1, 2016.
You still have until January 31, 2016.
Individuals and sole proprietors can still sign up for a policy and save yourself some money in the long run.
Those who enroll or make policy changes between January 16 and January 31 would have their health insurance policies take effect on March 1, 2016. That can be helpful. Getting coverage by that date may save you money. You might
qualify for a “short gap” exemption from a fee that will be charged when you file your 2016 tax return. Signing up now can reduce your fee by 1/12th for each month you are not covered during the 2016 income tax year.
The fee for not having health insurance in 2016 is calculated 2 different ways – as a percentage of your household income, and per person. You’ll pay whichever is higher.
Percentage of income
Paying the fee
Remember, you will have to pay the fee for not having insurance when you file your federal tax return for next the year if you don’t have coverage. So get on board. There are plenty of resources, including info about the “short gap” exemption at www.healthcare.gov, including links to people who can help you. You can also contact the 24/7 call center at 1-800-318-2596, or find in-person help near you at LocalHelp.HealthCare.gov. It’s free. It’s confidential.
Note that small businesses who want to cover their employees can sign up for employer funded policies ANY time of the year! So, Shop. Compare. Choose. Enroll!