This will be the first year that individuals can be credited or penalized for whether or not they enrolled in the Affordable Healthcare Act.
Local Liberty Tax representative Jim Duffield…
Duffield: “Of course with Obama’s Affordable Care Act they need to make sure they’ve either registered on the marketplace or that they’ve got health insurance because there’s several new forms that are going to be included in most tax returns this year related to that.”
Joshua Weinstein with Enroll Alaska spoke about the fines for those who didn’t have coverage in 2014
Weinstein: “It’s 1 percent of your annual income, and that would be paid once a year; however, it’s counted fractionally for each month. So, if someone had coverage for six months of the year, but was uncovered for six months of the year, they would pay half of the 1 percent.”
Weinstein said the fine would either be approximately $95 per person, or 1 percent of the individual’s income, whichever is higher.
For those who still do not have insurance through the Affordable Care Act in 2015 you will pay either 2% of your yearly household income or $325 per person for the year, whichever is higher.
