Did you skip buying health insurance last year? Did you just find out at tax time that your decision is costing you money anyway? You have one last chance to enroll for this year. Enroll up until April 30 in most states, and you can avoid most of the same penalty next year.
If you miss this deadline, though, you can’t enroll until 2016, unless you qualify for a Special Enrollment Period based on certain life events. You won’t have any protection against medical costs if you or a family member are sick or injured.
Remember, now everyone has to have health insurance, or pay a tax penalty. (Some people may qualify for an exemption from the penalty.) The amount of the penalty depends on how long you go uninsured. Enroll by the deadline, and you will only be liable for a penalty for the first two months of the year.
How do you make the choice that’s right for you?
Note: this information is not meant as legal or tax advice. Please talk to your legal or tax advisor about any questions.