The Centers for Medicare and Medicaid Services on Friday morning announced it will implement a special enrollment period for individuals who learn, at the time they file their taxes, of the Affordable Care Act-mandated tax penalty for not having health insurance coverage.
The special enrollment period will allow people to sign up as soon as they get a taste of the financial penalty that comes with not enrolling. Americans who didnt have insurance in 2014 may owe a fine of $95 or as much as 1% of their income. If they remain uncovered this year, the fine could rise to 2% of their income for the 2015 tax year. Income tax filings for 2014 are due April 15. The newly announced special enrollment period will run March 15 to April 30.
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