Monthly Archives: March 2015

Tax free Fringe Benefits

Which Fringe Benefits are Tax-Free?

In Publication 15-B, the IRS lists types of employee benefits that may be offered tax-free. Here is a summary of fringe benefits and their tax treatment.

Type of Fringe Benefit Income Tax Withholding Social Security and Medicare Federal Unemployment (FUTA)
Accident and health benefits Exempt, except for long-term care benefits provided through a flexible spending or similar arrangement. Exempt, except for certain payments to S corporation employees who are 2% shareholders. Exempt
Achievement awards Exempt up to $1,600 for qualified plan awards ($400 for nonqualified awards).
Adoption assistance Exempt Taxable Taxable
Athletic facilities Exempt if substantially all use during the calendar year is by employees, their spouses, and their dependent children and the facility is operated by the employer on premises owned or leased by the employer.
De minimis (minimal) benefits Exempt
Dependent care assistance Exempt up to certain limits, $5,000 ($2,500 for married employee filing separate return).
Educational assistance Exempt up to $5,250 of benefits each year.
Employee discounts Exempt up to certain limits.
Employee stock options Varies. Refer to IRS Publication 15-B for a discussion on stock options.
Employer-provided cell phones Exempt if provided primarily for noncompensatory business purposes.
Group-term life insurance coverage Exempt Exempt up to cost of $50,000 of coverage. (Special rules apply to former employees.) Exempt
Health savings accounts (HSAs) Exempt for qualified individuals up to the HSA contribution limits.
Lodging on your business premises Exempt if furnished for your convenience as a condition of employment.
Meals Exempt if furnished on your business premises for your convenience.
Moving expense reimbursements Exempt if expenses would be deductible if the employee had paid them.
No-additional-cost services Exempt
Retirement planning services Exempt
Transportation (commuting) benefits Exempt up to certain limits if for rides in a commuter highway vehicle and/or transit passes ($130), qualified parking ($250), or qualified bicycle commuting reimbursement ($20).
Tuition reduction Exempt if for undergraduate education (or graduate education if the employee performs teaching or research activities).
Working condition benefits Exempt

Chart Source – IRS Publication 15-B

  • ERIC WALTERS Insurance Services

 

·        Health insurance including ACA plans for individuals and families and ·        Employee Benefits for employer groups of all sizes PLUS income protection, Dental, Vision, Life Pensions and Annuity.

14482 N 100th Place,SCOTTSDALE AZ 85260

      TEL:(480)-657-8595/FAX:(888)-739-0796/Cell:602-616-1660

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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2014 Tax Return and the ACA

Completing a tax return this year will be harder for most due to the requirements of the ACA.

For the majority of Americans, the process will only require minor changes that can be covered by simply a checkmark on the filing form, nothing more.

For others, however, health insurance reporting will require a whole range of forms that cover their insurance coverage status, Premium Tax Credits and reconciliation of availed tax credits with their actual annual income.

Things will be even more convoluted for people who did not have minimum essential coverage for the year. These people will be required to pay penalties under the new setup. Even then, there is a range of conditions attached to what qualifies as  “minimum essential coverage”.

Solution #1

This is the simplest solution and, fortunately, applies to nearly 80 percent.

If you and each member of your family had health insurance throughout the year, then you simply need to check the box titled ‘Full-year coverage’ in one of 1040A, 1040Z, and 1040EZ forms.

That’s it. You do not even have to include any proof of insurance as the government should be able to pull that from your records.

Solution #2

This is where it gets confusing. For the 6% of people who bought health insurance off of a marketplace, there are a couple of things to check.

File the 8962 form, show the Premium Tax Credits you qualify for according to your annual income and reconcile this number with the tax credits paid toward their health plan in the course of the year.

Once you have done that, there are two forks in this path.

The first fork will come into play when you made less money than projected or had a life event, such as the addition of a new member to your family, marriage, etc. In that case, entitled premium tax credits will be more than the advance payments made to your health plan, and you will receive the remaining amount as a tax refund.

The second alternative fork comes into action when you had more income or fewer family members as noted at the beginning of the year. In that case, you might have to pay some of those tax credits back to the government in your tax filing. For both these alternate sub-paths, you need to use the 8962 form for reconciliation.

 Solution #3

This is where the penalties come into the picture.

If you or any of your dependents did not have health insurance for each month of the year, you will be required to pay penalties.

Unless you are exempt from the health insurance penalty, you will have to pay according to where you fit in. The penalty ranges from $95 per uninsured adult to $2,448 per uninsured adult, depending upon the family income.

On the other hand, if you qualify for exemptions, then you need to have an Exemption Certificate Number that you can submit along with your tax filing.

The ECN has its own share of formalities and processes, and you need to have it handy for completing the filing process. An ECN is available from the marketplace that issued the exemption and is a mandatory document for completing the exemption formalities.

This path is the most convoluted of all, with Form 8965 requiring myriad proofs and documents to process your penalties or exemptions.

Among these three solutions, you will find that at least one of these leads to complete tax filing. While Solution 1 is pretty straightforward,  Solution  2 and Solution 3 can confuse the most seasoned of tax payers.

If you are stuck with either second or third, it makes sense to take the help of tax consultants who can help you with forms, procedures, alternatives, and more.

This not tax or legal advice

  • ERIC WALTERS Insurance Services

·        Health insurance including ACA plans for individuals and families and Employee Benefits for employer groups of all sizes PLUS income protection, Dental, Vision, Life Pensions and Annuity.

14482 N 100th Place,SCOTTSDALE AZ 85260

TEL:(480)-657-8595/FAX:(888)-739-0796/Cell:602-616-1660

 

Large Employer? – What’s your ACA liability?

Large Employer and the ACA

Starting in 2015, Applicable Large Employers (ALEs) will be subject to the “employer mandate” — the Affordable Care Act requirement to either offer minimum, affordable health insurance by 2015 or be subject to penalties.

Who Is an Applicable Large Employer (ALE)?

An ALE is any employer with 50+ full time equivalent employees. If you have less than 50 employees, you are not an ALE. If you have 50 or more employees, you probably are an ALE. 

But for those employers on the cusp of 50 employees, or with a mix of full time, part time, and seasonal employees, the calculation can get more complicated.

An ALE is any control group employer that averaged 50 or more full-time employees, plus full-time equivalents, on business days during the preceding calendar year.

For example, an employer could be an ALE in 2015, but not in 2014. If the company employed 50 or more full-time employees on average during the preceding calendar year, they are an ALE for the current calendar year.

An employer is NOT an ALE if the employer:

  1. Employed less than 50 full-time employees on average during the previous calendar year, or
  2. Employed more than 50 full-time employees no more than 120 days during the previous calendar year due to a seasonal workforce.
Calculating the number of full-time employees.Generally, a full-time employee is a worker who is employed on average at least 30 hours of service per week in a given month. However, for purposes of determining whether a company is an ALE, the company must include all full-time employees plus the full-time equivalent of its part-time employees.

To calculate the full-time equivalent of part-time employees, a company should add the number of hours worked by part-time employees and divide the total by 120.

The sum of the full-time employees and the full-time equivalent of the part-time employees is the number used to determine whether a company is an applicable large employer.

2 Common Mistakes When Determining ALE Status

Mistake #1: Not Counting Part Time Employees

The first mistake employers commonly make when determining ALE status is not counting part-time employees.

As detailed above, part-timers are used in the calculation of whether the employer is an ALE.

Mistake #2: Not Including Employees From All Business Entities

The second mistake employers make when determining if they’re an ALE is not totalling all employees employed under all business entities.

“If I divide my company into several smaller companies I can avoid the employer mandate”  “I own several businesses under the same parent company; how do I determine if I’m an ALE?”

When a business entity is considered a controlled group (as listed below), the business is considered a single employer under the ACA employer mandate.

There are three types of controlled groups:

  1. Parent-Subsidy Group
  2. Brother-Sister Group
  3. Combined Group

So, how exactly do you calculate the business health insurance tax penalty?

The Business Health Insurance Tax Rule is NOT Simple:

Effective January 1st, 2015 “applicable large employers” will be required to offer “minimum essential coverage” that is “affordable” to their employees. “Applicable large employers” who fail to offer “minimum essential coverage” that is “affordable” will be required to pay a “penalty” on their tax return. 

How to calculate the penalty for Any Business. 

In order to calculate the business health insurance tax penalty, you must answer the following questions:

1) Are you an “applicable large employer”?

2) What qualifies as “minimum essential coverage”?

3) What is the penalty if I do not offer “minimum essential coverage”?

4) What is the penalty if I do offer “minimum essential coverage”, but it is not “affordable” for some of my employees?

1) Are you an “applicable large employer”?

For purposes of the business health insurance tax penalty, a company is defined as an applicable large employer on a calendar year basis. For example, a company could be an applicable large employer in 2015, but not in 2014. If the company employed 50 or more full-time employees on average during the preceding calendar year, they are an applicable large employer for the current calendar year.

A company is NOT an applicable large employer if the company:

  1. employed less than 50 full-time employees on average during the previous calendar year, or
  2. employed more than 50 full-time employees no more than 120 days during the previous calendar year due to a seasonal workforce.
Calculating the number of full-time employees.Generally, a full-time employee is an employee who is employed on average at least 30 hours of service per week in a given month. However, for purposes of determining whether a company is an applicable employer, the company must include all full-time employees plus the full-time equivalent of its part-time employees.

To calculate the full-time equivalent of part-time employees, a company should add the number of hours worked by part-time employees and divide the total by 120.

The sum of the full-time employees and the full-time equivalent of the part-time employees is the number used to determine whether a company is an applicable large employer.

Example. In February, ABC Manufacturing employs 60 full-time employees and does not offer minimum essential coverage. In February, at least one employee purchases health insurance through the exchange and receives premium subsidies from the federal government.

The annual per employee penalty is $2,000.

The monthly per employee penalty is $2,000*(1/12).

For purposes of this calculation, we only need to consider 30 full-time employee due to the 30-employee credit.

The total monthly penalty is equal to 30*2,000*(1/12) which is $5,000.

Simple translation: If you have less than 50 employees, you are not an applicable large employer. If you have 50 or more employees, you probably are an applicable large employer.

2) What qualifies as “minimum essential coverage”?

For purposes of the business health insurance tax penalty, minimum essential coverage is the minimum amount of health insurance coverage an applicable large employer must make available to avoid paying the maximum penalty (see #3, below).

In order to avoid paying the maximum penalty, the employer must offer each employee the ability to enroll in minimum essential coverage through an eligible employer-sponsored plan, which is:

  1. any plan or coverage offered in the small or large group market within a State (including small business exchanges),
  2. coverage under a grandfathered health plan, or
  3. a qualified governmental plan.

3) What is the penalty if I do not offer “minimum essential coverage”?

An applicable large employer who does not offer minimum essential coverage may not have to pay a penalty.

The employer only pays a penalty if at least one employee enrolls in a health insurance exchange and also qualifies for premium subsidies and/or other tax credits from the federal government.

If at least one employee receives federal subsidies due to purchase of health insurance through an exchange in a given month, the employer must pay a monthly penalty based on the number of full-time employees employed during that month.

IMPORTANT: When calculating the amount of the penalty, the employer receives a credit of 30 full-time employees. (For example, a company with 50 full-time employees only has to consider 20 employees for purposes of the penalty).

The annual per employee penalty is $2,000.

To get the monthly per employee penalty, you simply divide the annual penalty by 12.

To calculate the total monthly penalty, you multiply the # of full-time employees employed during the month minus 30 by the monthly per employee penalty.

4) What is the penalty if I do offer “minimum essential coverage”, but it is not “affordable” for some of my employees?

An applicable large employer that offers minimum essential coverage to its full-time employees may still be required to pay a penalty if the coverage is not “affordable” for one or more employees.

An employer’s coverage is considered unaffordable for any full-time employees who, in a given month, enrolls in a health plan offered through an Exchange and are eligible to receive federal premium subsidies (or cost-sharing subsidies).  An employee is only eligible for premium subsidies through the exchange if their required contributions for their employer’s plan is greater than 9.5%.

If one or more full-time employees receive federal subsidies due to purchase of health insurance through an exchange in a given month, the employer must pay a monthly penalty based on the number of full-time employees who receive federal subsidies.

The annual per employee penalty for not offering affordable coverage is $3,000.

To get the monthly per employee penalty, you simply divide the annual penalty by 12.

To calculate the total monthly penalty, you multiply the # of full-time employees who receive premium subsidies (or cost-sharing subsidies) by the monthly per employee penalty.

 

Example. In February, ABC Manufacturing employs 60 full-time employees and does offer minimum essential coverage. In February, three (3) employee purchase health insurance through an exchange and receive premium subsidies from the federal government. Thus, the coverage is unaffordable for three (3) employees for the month of February.

The annual per employee penalty is $3,000.

The monthly per employee penalty is $3,000*(1/12).

For purposes of this calculation, we only need to consider the 3 full-time employee who are receiving federal subsidies.

The total monthly penalty is equal to 3*3,000*(1/12) which is $750.

Note: This should not be taken as legal or tax advice.

Get further information or a detailed review  of your situation from Eric:-

 

  • ERIC WALTERS Insurance Services

·        Health insurance including ACA plans for individuals and families and
·        Employee Benefits for employer groups of all sizes
·        PLUS income protection, Dental, Vision, Life Pensions and Annuity.

14482 N 100th Place,SCOTTSDALE AZ 85260

TEL:(480)-657-8595/FAX:(888)-739-0796/Cell:602-616-1660

What employees want to know about ACA!!

EMPLOYERS- 10 ACA questions employees want you to answer – now!
If employees haven’t come to you with questions about the Affordable Care Act’s (ACA) affect on them, get ready … they’re coming.

Want to know what they’re going to ask?

In a recent survey to gauge how single-employer plans are being affected by the ACA, the International Foundation of Employee Benefit Plans, a nonprofit research and education organization, asked employers to submit the most common questions their HR and benefits staff have been receiving from employees about the law.
More than 600 employers responded to the query.

Here are the top 10 questions :-

1. How do the exchanges work? Am I eligible? Are they free? Could I qualify for a subsidy? How does exchange coverage compare to my current coverage?

2. How does the law affect me? Do I need to do anything?

3. What will this cost me? Why are my costs going up?

4. Is the company planning to drop coverage?

5. How will our benefits change? Are the changes because of health reform?

6. Can my child stay on the plan longer?

7. Do I have to get coverage if I don’t have it now? When will there be an open enrollment opportunity?

8. Will I have an average of 30 hours per week and qualify for benefits in 2015?

9. Are we dropping spousal/dependent coverage?

10. How does the law impact the future of the company?

Source: “2014 Employer-Sponsored Health Care: ACA’s Impact,” by the International Foundation of Employee Benefit Plans.

    I can help you answer these questions!

ERIC WALTERS,
CELL: 602-616-1660
Eric Walters Insurance Services
14482 N 100th Place,
SCOTTSDALE AZ 85260
TEL:(480)-657-8595/FAX:(888)-397-0796
Email: ewinsurance@gmail.com

WEB: www.ewconsultant.biz

ACA blog site:-www.azhealthinsuranceblog.com

Wrong Tax Information from FFM?

 

IRS WON’T PENALIZE ANYONE WHO RECEIVED WRONG TAX INFO FROM THE federal health insurance marketplace – FFM!!

The Internal Revenue Service will not try to collect additional taxes from those taxpayers who have already filed their taxes after receiving incorrect information from the federal health insurance marketplace (FFM), Healthcare.gov.

Last week, the Centers for Medicare and Medicaid Services announced that approximately 800,000 taxpayers who received coverage via Healthcare.gov and qualified for premium tax credits had received the wrong information on a Form 1095-A, “Health Insurance Marketplace Statement,” sent to them in the mail.

They were asked to wait to file their taxes until March when a corrected form will be sent to them.

In a statement Tuesday, an unidentified Treasury Department spokesperson said that those who have already filed their tax returns will not be subject to additional taxes once the correct information is available and they do not need to file an amended tax return

The incorrect information that appeared on the 1095-A specified the premium amount for the “second lowest cost Silver plan” in the taxpayer’s area. The amount is supposed to represent the benchmark plan used to determine the amount of the premium tax credit the taxpayer is eligible to receive. That information was calculated incorrectly for many taxpayers, although CMS stressed that it won’t be an issue for the majority of people who received health coverage through Healthcare.gov.

Still, some taxpayers and their tax preparers may want to file amended tax returns anyway. “Nonetheless, some individuals may choose to file amended returns,” said the Treasury spokesperson. “A tax filer is likely to benefit from amending if the 2015 monthly premium for his or her second lowest cost Silver plan (or ‘benchmark’ plan) is less than the 2014 premium.

For example, if a filer’s original form lists a benchmark premium of $100 and her updated form lists a premium of $200, it may be in her interest to refile. Individuals may want to consult with their tax preparers to determine if they would benefit from filing amended returns. As CMS announced last week, affected individuals who have not yet filed their taxes should wait to file until they receive their corrected form

For more information contact: Eric Walters

 ERIC WALTERS Insurance Services

Health insurance including ACA plans for individuals and families and ·        Employee Benefits for employer groups of all sizes PUS income protection, Dental, Vision, Life Pensions and Annuity.

14482 N 100th Place,SCOTTSDALE AZ 85260

  • Call:(480)-657-8595/FAX:(888)-739-0796/Cell:602-616-1660

2015 Federal Poverty Level (FPL)

Federally facilitated marketplaces will use the 2015 guidelines to determine eligibility for Medicaid and CHIP.

 Household Size

 100%

 133%

 150%

200%

250%

 300%

400%

 1

$11,770

$15,654

$17,655

$23,540

$29,425

$35,310

$47,080

 2

15,930

 21,187

23,895

  31,860

39,825

47,790

63,720

 3

20,090

 26,720

30,135

  40,180

50,225

60,270

80,360

 4

24,250

 32,253

36,375

  48,500

60,625

72,750

97,000

 5

28,410

 37,785

42,615

  56,820

71,025

85,230

113,640

 6

32,570

 43,318

48,855

  65,140

81,425

97,710

130,280

 7

36,730

 48,851

55,095

  73,460

91,825

110,190

146,920

 8

40,890

 54,384

61,335

  81,780

102,225

122,670

163,560

- See more at: http://familiesusa.org/product/federal-poverty-guidelines#sthash.FD0DQ65S.dpuf

Federally facilitated marketplaces will use the 2015 guidelines to determine eligibility for Medicaid and CHIP.

 Household Size

 100%

 133%

 150%

200%

250%

 300%

400%

 1

$11,770

$15,654

$17,655

$23,540

$29,425

$35,310

$47,080

 2

15,930

 21,187

23,895

  31,860

39,825

47,790

63,720

 3

20,090

 26,720

30,135

  40,180

50,225

60,270

80,360

 4

24,250

 32,253

36,375

  48,500

60,625

72,750

97,000

 5

28,410

 37,785

42,615

  56,820

71,025

85,230

113,640

 6

32,570

 43,318

48,855

  65,140

81,425

97,710

130,280

 7

36,730

 48,851

55,095

  73,460

91,825

110,190

146,920

 8

40,890

 54,384

61,335

  81,780

102,225

122,670

163,560

- See more at: http://familiesusa.org/product/federal-poverty-guidelines#sthash.FD0DQ65S.dpuf

2015 Federal Poverty Guidelines

Federally facilitated marketplaces will use the 2015 guidelines to determine eligibility for Medicaid and CHIP.

- See more at: http://familiesusa.org/product/federal-poverty-guidelines#sthash.FD0DQ65S.dpuf

Federally facilitated marketplaces will use the 2015 guidelines to determine eligibility for Medicaid and CHIP.

 Household Size

 100%

 133%

 150%

200%

250%

 300%

400%

 1

$11,770

$15,654

$17,655

$23,540

$29,425

$35,310

$47,080

 2

15,930

 21,187

23,895

  31,860

39,825

47,790

63,720

 3

20,090

 26,720

30,135

  40,180

50,225

60,270

80,360

 4

24,250

 32,253

36,375

  48,500

60,625

72,750

97,000

 5

28,410

 37,785

42,615

  56,820

71,025

85,230

113,640

 6

32,570

 43,318

48,855

  65,140

81,425

97,710

130,280

 7

36,730

 48,851

55,095

  73,460

91,825

110,190

146,920

 8

40,890

 54,384

61,335

  81,780

102,225

122,670

163,560

- See more at: http://familiesusa.org/product/federal-poverty-guidelines#sthash.FD0DQ65S.dpuf

2015 Federal Poverty Guidelines

Federally facilitated marketplaces will use the 2015 guidelines to determine eligibility for Medicaid and CHIP.

 Household Size

 100%

 133%

 150%

200%

250%

 300%

400%

 1

$11,770

$15,654

$17,655

$23,540

$29,425

$35,310

$47,080

 2

15,930

 21,187

23,895

  31,860

39,825

47,790

63,720

 3

20,090

 26,720

30,135

  40,180

50,225

60,270

80,360

 4

24,250

 32,253

36,375

  48,500

60,625

72,750

97,000

 5

28,410

 37,785

42,615

  56,820

71,025

85,230

113,640

 6

32,570

 43,318

48,855

  65,140

81,425

97,710

130,280

 7

36,730

 48,851

55,095

  73,460

91,825

110,190

146,920

 8

40,890

 54,384

61,335

  81,780

102,225

122,670

163,56

- See more at: http://familiesusa.org/product/federal-poverty-guidelines#sthash.kVgEHKg5.dpuf

 

 

 

 

 

 

2015 Federal Poverty Guidelines

Federally facilitated marketplaces will use the 2015 guidelines to determine eligibility for Medicaid and CHIP.

Also ACA uses each applicant’s household size and income as a % of the FPL to calculate everyone’s tax credit.

More information from: Eric Walters

CELL: 602-6611660

WEB: WWW. ewconsultant.biz 

 Household Size  100%  133%  150% 200% 250%  300% 400%
 1 $11,770 $15,654 $17,655 $23,540 $29,425 $35,310 $47,080
 2 15,930  21,187 23,895   31,860 39,825 47,790 63,720
 3 20,090  26,720 30,135   40,180 50,225 60,270 80,360
 4 24,250  32,253 36,375   48,500 60,625 72,750 97,000
 5 28,410  37,785 42,615   56,820 71,025 85,230 113,640
 6 32,570  43,318 48,855   65,140 81,425 97,710 130,280
 7 36,730  48,851 55,095   73,460 91,825 110,190 146,920
 8 40,890  54,384 61,335   81,780 102,225 122,670 163,560

2015-New Open Enrollment Period!!

New Open Enrollment Period for Tax season!

 Eligible consumers have from March 15 through April 30 2015 to enroll in coverage.

The Centers for Medicare & Medicaid Services (CMS) announced a special enrollment period (SEP) for individuals and families who did not have health coverage in 2014 and are subject to the fee or “shared responsibility payment” when they file their 2014 taxes in states which use the Federally-facilitated Marketplaces (FFM)- Arizona.

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 through the FM.

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

Those eligible for this special enrollment period live in states with a Federally-facilitatedMarketplace (Arizona) and:

  •  Currently are not enrolled in coverage through the FFM for 2015,
  •  Attest that when they filed their 2014 tax return they paid the fee for not having health coverage in 2014, and
  •  Attest that they first became aware of, or understood the implications of, the Shared Responsibility Payment after the end of open enrollment (February 15, 2015) in connection with preparing their 2014 taxes.

The special enrollment period will begin on March 15, 2015 and end at 11:59 pm E.S.T .on April 30, 2015.

If a consumer enrolls in coverage before the 15th of the month, coverage will be effective on the first day of the following month.

This year’s tax season is the first time individuals and families will be asked to provide basic information regarding their health coverage on their tax returns.

Individuals who could not afford coverage or met other conditions may be eligible to receive an exemption for 2014.

To help consumers who did not have insurance last year determine if they qualify for an exemption, CMS also launched a health coverage tax exemption tool today on healthCare.gov and CuidadodeSalud.gov.

Had coverage?-most taxpayers will only need to check a box when they file their taxes to indicate that they had health coverage in 2014 through their employer, Medicare, Medicaid, veterans care or other qualified health coverage that qualifies as “minimum essential coverage.”

OR were you exempt?-. It is expected that 10 to 20 percent of taxpayers who were uninsured for all or part of 2014 will qualify for an exemption from the requirement to have coverage.

No coverage? - an estimated 2 to 4 percent, will pay a fee because they made a choice to not obtain coverage and are not eligible for an exemption.

Americans who do not qualify for an exemption and went without health coverage in 2014 will have to pay a fee$95 per adult or 1percent of their income, whichever is greater – when they file their taxes this year. The fee increases to $325 per adult or 2% of income for 2015.

Individuals taking advantage of this special enrollment period will still owe a fee for the months they were uninsured and did not receive an exemption in 2014 and 2015.

Consumers seeking to take advantage of the special enrollment period can find out if they are eligible by visiting https://www.healthcare.gov/get-coverage Consumers can find local help at: Localhelp.healthcare.gov or call the Federally-facilitated Marketplace Call Center at 1-800-318-2596. TTY users should call 1-855-889-4325. Assistance is available in 150 languages. The call is free.

OR Contact, all at no cost to you and without any obligation: ERIC WALTERS-

ERIC WALTERS Insurance Services

Health insurance including ACA plans for individuals and families and employee Benefits for employer groups of all sizes PLUS income protection, Dental, Vision, Life Pensions and Annuity.

 14482 N 100th Place,SCOTTSDALE AZ 85260