March 31 deadline for signing up for health insurance approaches

03/11/2014 8:18 AM

08/08/2014 10:22 AM

The deadline to enroll for health insurance on the government’s online marketplace at HealthCare.gov is March 31.

The website is a part of the Affordable Care Act, which requires nearly everyone to have insurance this year, or pay a tax.

Penalties for not having insurance will be 1 percent of income or $95 per adult and $47.50 per child, whichever amounts are greater. The penalty will be assessed on 2015 income taxes. Penalties are planned to increase each year over the next several years.

Costs for plans vary by household size and income. The marketplace website also can help determine if you are eligible for government subsidies, Medicaid or the Children’s Health Insurance Program.

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