Health Insurance & Your Taxes 101

Penalties & Exemptions
  • Under the ACA, individuals and businesses may face a tax penalty for not having health insurance.
  • Businesses with 100 or more full-time employees during the 2015 tax year or 50 or more full-time employees during the 2016 tax year are required to offer health insurance coverage or face a tax penalty.
  • Depending on your circumstance, you may be able to qualify for a coverage exemption from the penalty. Take a look below at all of the acceptable exemptions and how you apply for them:

2015 Health Insurance Exemptions Chart

Tax Credits

Persons who enroll in a Marketplace plan may receive a Premium Tax Credit, also known as a tax subsidy, which are available to individuals and businesses to lower the cost of having insurance. This credit must be reconciled on your tax return.

FAQ & Glossary

Still have questions? Need some clarification? Our ACA advisers have you covered.

Important ACA Dates & Deadlines
  • November 1, 2015: Open Enrollment starts for coverage in 2016
  • December 17, 2015: Last date to enroll for coverage to start January 1, 2016
  • December 31, 2015: Coverage ends for all 2015 Marketplace plans
  • January 1, 2016: Coverage for 2016 can begin
  • January 31, 2016: Open Enrollment for coverage in 2016 ends
  • April 18, 2016: Last day to file taxes or apply for a 6-month filing extension


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