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INSURANCE, TAX PLANNING

What Is The Health-Care Insurance Penalty?

By The BIDaWIZ Team on October 3rd, 2014 at 8:04 pm

This will be the first year that the health-care changes passed in 2010 will have an impact on those that opt out of coverage. Specifically, under the Individual Shared Responsibility Provision, individuals that are subject to the penalty will have to remit payment with their 2014 tax returns on April 15th. The penalty will not apply to those that obtain health insurance coverage through their employer or a state sponsored exchange. Still, there are certain groups that will pay hundreds and in some cases thousands in penalties. .
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