Affordable Healthcare Act: Enrollment Deadline

If you missed the February 15 enrollment deadline for health insurance coverage to start February 1, 2014 under the Affordable Health Care Act, take heart.  If you are among the uninsured, you have until March 31, 2014 to get coverage before you are penalized.

After the deadline, persons who opt not to obtain health insurance will have to pay a fee known as the "individual responsibility payment" and will be responsible for their own medical care. For 2014, the penalty is calculated at 1% of the individual's income or at $95 for adults and $49.50 for children under 18 years. Paying the penalty does not provide insurance coverage so the individual is still responsible for his own medical bills.  Remember that if your income falls below the income guidelines, you may be eligible for premium payment assistance.