Although the Open Enrollment period for health insurance ended February 15th, the Centers for Medicare & Medicaid Services (CMS) has announced a special enrollment period (SEP) for individuals and families, who did not have health coverage in 2014 and are subject to the fee/tax or “shared responsibility payment” when they file their 2014 taxes in states, which use the Federally-facilitated Marketplaces (FFM). This special enrollment period will allow those individuals and families, who were unaware or didn’t understand the implications of this new requirement, to enroll in 2015 health insurance coverage.
For those who were unaware or didn’t understand the implications of the fee for not enrolling in coverage, CMS will provide consumers with an opportunity to purchase health insurance coverage from March 15 to April 30. If consumers do not purchase coverage for 2015 during this special enrollment period, they may have to pay a fee when they file their 2015 income taxes.
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