ACA Filing Deadline Extended through 2015 Tax Filing Season

Taxpayers who missed the February 15, 2015 deadline to enroll in a healthcare plan through the public exchange or face a penalty received some good news; a special enrollment period will be added, extending the deadline to April 30, 2015 in 37 states. Health Care Reform

The government also announced that some 800,000 taxpayers received incorrect forms from the Centers for Medicare and Medicaid Services (CMS) stating that they either received too large or too small a subsidy. They are asking those who have not yet filed their taxes to wait until corrected forms can be sent out.

As Americans were preparing their taxes this year, many apparently learned for the first time that they would owe something if they did not have health insurance last year and needed to sign up by February 15 to avoid a penalty for next year. This prompted numerous calls to Congressman and Senators voicing their concerns. These lawmakers lobbied the Administration to grant an enrollment extension to give consumers a chance to comply with the Affordable Care Act.

2014 is the first tax year in which there is a penalty due for most Americans that did not have a qualified health care plan during the year. The penalty for 2014 is $95 per adult and $47.50 per child or 1% of household income, whichever is greater. In 2015, the penalty rises to $325 per adult and $162.50 per child or 2% of household income, whichever is greater.

Here are some important things to keep in mind about the special enrollment period:

  • The period begins on March 15 and runs through April 30, allowing taxpayers to sign up for a plan before their taxes are due on April 15.
  • Signing up for a plan during the special enrollment period will only provide coverage during the 2015 tax year. This will not help taxpayers who did not have a qualified plan in 2014.
  • The special enrollment period is only available in the 37 states that do not have their own health care exchanges and utilize the federal exchange through (this includes Arizona). Several states with their own exchanges (such as California) are considering similar enrollment extensions.

Compliance with the Affordable Care Act and the deadlines for enrolling in health plans for various years is confusing to many taxpayers. If you need further guidance ensuring that you have qualified health coverage, speak with a local accounting firm.

Scroll to Top