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omg! Inside Fort Bend 03/26/14

LAST CALL: Deadline for 2014 health insurance coverage is Monday

It is just a matter of days before the Monday, March 31st deadline to purchase or according to some reports, sign up for health insurance to be paid this year.  That is, if you want to be covered under a health care plan and not be subjected to a penalty on your 2014 IRS return.  Reportedly more than 5 million have signed up for coverage on the federal health insurance marketplace website.  But there still remains confusion about what the March 31stdeadline actually means.  In a nutshell, if you, an American individual, are without health care plan coverage after March 31, in all likelihood there’s a penalty fee that will be part of your 2014 tax return – $95 per adult and $47.50 per child or one percent of your household income, whichever is greater. In 2015, that will increase to $325 per adult or two percent of household income.

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Posted by on Mar 26 2014. Filed under Breaking News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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