How to Mess Up Your Tax Subsidy and Owe the Government Money WEB

How to Mess Up Your Tax Subsidy and Owe the Government Money

Meet my family.

My wife and I have three college-age children. Each of the kids made some money and filed their own tax returns, as required. My wife and I made $68,000 combined last year. We filed on time. So did our kids. We were taxed at our rate, they were taxed at their lower rate. Because our income was modest, we were eligible for a premium tax credit on the health insurance plan we bought from HeatlhCare.gov. Or so we thought. 

Extension Granted to Help Uninsured Avoid Tax Penalty WEB

Extension Granted to Help Uninsured Avoid Tax Penalty

Congratulations American taxpayers – many of you now have more time to apply for a health insurance plan if you are currently uninsured. The Centers for Medicare and Medicaid, which mange healthcare.gov, have announced an extension to the health insurance enrollment period to help those who were not aware they would be penalized for failing to carry a health policy. For states that utilize healthcare.gov, the special enrollment period will run between March 15 and April 30. In five other states that have also extended the deadline, dates for application vary (listing below).

Dates for 2015-2016 Health Insurance Enrollment Announced WEB

Dates for 2015-2016 Health Insurance Open Enrollment Announced

The Centers for Medicare and Medicaid Services (CMS) today announced the dates for the 2015-2016 open enrollment season, one day after succumbing to pressure and extending the 2015 deadline for millions of Americans unaware of the tax penalties they face being uninsured.

46 States Extend Health Insurance Deadline WEB

46 States Extend Health Insurance Deadline

Since publishing this article, two more states have extended deadlines, making the total number extending the enrollment deadline to 47 states and the District of Columbia.

There was last-minute furor on HealthCare.com, and across the nation as the midnight deadline loomed for the close of health insurance enrollment on Sunday, February 15. The crush of interested applicants produced long wait times and technical glitches. This, along with winter weather that disabled some East Coast states, prompted the federal departments in charge of healthcare.gov to extend the enrollment deadline if (and only if) an individual had started an application and was not able to complete the process, is currently uninsured, and had not been previously terminated from coverage in 2015. Other states followed as the evening wore on, and when all was said and done, 46 states had extended their deadlines. Here is an updated list of state extensions and exceptions for those who are currently waiting to complete the enrollment process. {1}