Clarification on Individual Insurance Date

Oct. 29, 2013

On Oct. 23, 2013, the Obama administration announced that as long as people obtain health insurance by March 31, 2014, they will not face tax penalties for being uninsured during those first three months of 2014.  An earlier interpretation had some people thinking they needed to sign up by Feb. 15, 2014 to avoid a penalty; however, the Obama administration realized it made more sense for the deadline to coincide with the end of open enrollment, as well as meet the expectations of consumers who were under the impression signing up for coverage by March 31 kept them in compliance with the law.

Source: New York Times, “White House to Tweak Tax-Penalty Deadline,” Oct. 23, 2013