Find out if you face a tax penalty for not having insurance
Most Americans were required to have health insurance coverage in 2014 as a result of the Affordable Care Act (also known as Obamacare). Those who do not comply with the individual mandate in the health care reform law may have to pay a tax penalty to the government when filing their taxes for 2014.
The tax penalty for not having qualifying coverage in 2014 is $95 per adult and $47.50 per child, or 1 percent of annual taxable income, whichever is greater. During the 2015 tax season, taxpayers will be asked if they had insurance coverage when filing their 2014 income tax returns. Those who did not have insurance may be assessed the tax penalty. The percentage of income tax penalty is capped at national average premium of a bronze level plan.
2015 open enrollment
Individuals and families can enroll in 2015 health insurance coverage during the next open enrollment period from November 15, 2014 to February 15, 2015.
Most Americans will need to enroll in a qualifying 2015 health insurance plan during the open enrollment period to avoid paying a tax penalty when filing their 2015 income taxes in early 2016.
Tax credit calculator
You can click on the "Tax Credit Calculator" button on BCBSND.com to find out if you qualify for a tax credit to reduce your health insurance costs for coverage purchased on the online Health Insurance Marketplace at www.healthcare.gov.
If you do not qualify for a tax credit, you can buy the same Blue Cross Blue Shield of North Dakota metallic level plan at BCBSND.com at the same cost as plans offered on the marketplace. If your employer offers health insurance coverage, you can also enroll in health insurance coverage through your job.
You can search, select and apply for plans at www.BCBSND.com/shop or by calling 1-800-280-BLUE (2583).
Let us know if you have any questions. We're here to help.