Affordable Care Act

Marketplace open enrollment for 2017 is Nov 1, 2016 to Jan 31, 2017


November 1, 2016: Open Enrollment starts — first day you can enroll, re-enroll, or change a 2017 insurance plan through the Health Insurance Marketplace. Coverage can start as soon as January 1, 2017.

Important Dates

December 15, 2016: Last day to enroll in or change plans for coverage to start January 1, 2017.

January 1, 2017: 2017 coverage starts for those who enroll or change plans by December 15.

January 31, 2017: Last day to enroll in or change a 2017 health plan. After this date, you can enroll or change plans only if you qualify for a Special Enrollment Period.

Penalty0

Most people must have health coverage or pay a penalty. If you don’t have coverage, you’ll pay a penalty which you will pay when you file your income tax return.

  • 2014 fee – 1% of household income or $95 per person ($47.50 child under 18). Max per family is $285.
  • 2015 fee – 2% of household income or $325 per person ($162.50 child under 18). Max per family is $975.
  • 2016 fee – 2.5% of income or $695 per person.

Exemption

Some people qualify for an exemption to the penalty.

You may qualify for an exemption from the penalty for not being insured if:

  • You’re uninsured for less than 3 months of the year
  • The lowest-priced coverage available to you would cost more than 8% of your household income
  • You don’t have to file a tax return because your income is too low (Learn about the filing limit (PDF)
  • You’re a member of a federally recognized tribe or eligible for services through an Indian Health Services provider
  • You’re a member of a recognized health care sharing ministry
  • You’re a member of a recognized religious sect with religious objections to insurance, including Social Security and Medicare
  • You’re incarcerated (either detained or jailed), and not being held pending disposition of charges
  • You’re not lawfully present in the U.S.
  • You qualify for a hardship exemption

Outside of Open Enrollment Period Options

Covered Plans

You’re considered covered if you have Medicare, Medicaid, CHIP, any job-based plan, any plan you bought yourself, COBRA, retiree coverage, TRICARE, VA health coverage, or some other kinds of health coverage.

If you’re eligible for job-based insurance, you can consider switching to a Marketplace plan, but you won’t qualify for lower costs based on your income unless the job-based insurance is found unaffordable or doesn’t meet minimum requirements.

How Will I Report My Health Insurance Coverage on My Tax Return?

The following forms will be used to report health insurance coverage beginning with your 2014 tax return:

  • Form 1095-A – Health Insurance Marketplace Statement – You will receive this form if you purchased health insurance via the Health Insurance Marketplace exchange in 2014. It will provide information for you if you need to complete Form 8962 for the Premium Tax Credit. If you or your family members enrolled in more than one health plan via the Marketplace, you will receive a Form 1095-A for each policy. A copy of each Form 1095-A will also be sent to the IRS.
  • Form 1095-B – Health Coverage – This form is provided by your insurance provider and will have the information needed to report on your tax return that you, your spouse, and any dependents, had qualifying health insurance coverage for some of the year or for the whole year.
  • Form 1095-C – Employer-Provided Health Insurance Offer and Coverage – This form will be provided to you by your employer and contains information about the health coverage offered to you by your employer. There was a delay in the large employer mandate to provide health insurance coverage so if you do not receive this form from your employer, check with your employer’s benefits department.
  • Form 8962 – Premium Tax Credit – This form will be prepared for you when you prepare your return on efile.com if you purchased health insurance through the Marketplace and you are eligible for the Premium Tax Credit.
  • Form 8965 – This form will need to be prepared by you if you are claiming that you are exempt from health care coverage. See above under Exemptions.

Resources

Get Insurance

Do You Qualify for Special Enrollment Period?

Obamacare Explained