If you didn’t make Monday’s deadline to sign up for the Affordable Care Act, be prepared to open your wallet next tax season. Central Illinois coordinator for Get Covered Illinois Amanda Kozar explains the dollars and cents.
“If someone didn’t sign up, they may face a penalty of 1-percent of their income or $95, whichever is higher” says Kozar.
Kozar adds the penalties will increase next year and those dollars will come directly out of any expected tax refund. The next open enrollment starts in November with coverage beginning January 2015.
The Obama administration says despite early technical glitches, the roll-out went well and the number of those who enrolled met their target.