Uninsured people who don't obtain coverage within the Affordable Care Act's official enrollment period, which ends Jan. 31, will face the law's penalty for going without insurance, federal officials said Monday, according to a report from The Wall Street Journal.
Here are three things to know about the issue.
1. Earlier this year, President Barack Obama's administration offered a reprieve for uninsured people who missed the sign-up deadline for 2015 coverage. The sign-up deadline was originally Feb. 15. However, the deadline was extended until April for people who said they found out about the penalty for going without insurance only when they filed their tax returns, according to the report.
2. But this time around, for 2016 coverage, federal officials made it clear no extension would be given. "A special enrollment period around the April 15 tax filing deadline won't be offered this year. If you don't enroll by then, you could have to wait another year to get coverage and may have to pay the fee when you file your 2016 income taxes," Kevin Counihan, CEO of HealthCare.gov, wrote in a blog post this week.
3. For 2015, the fee for uninsured people who have access to affordable insurance and don't qualify for an exemption is $325 per person, or 2 percent of their annual household income — whichever is higher, according to Mr. Counihan's blog post. For 2016, the fee will increase to $695 or 2.5 percent of personal income — whichever is higher.
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