Will help Kentuckians avoid tax penalties for being uninsured
FRANKFORT, Ky. (Feb. 24, 2015) — Gov. Steve Beshear today announced a special federal health reform enrollment period from March 2 to April 30 to give Kentuckians unaware of possible tax penalties more time to sign up.
The Internal Revenue Service penalty for not obtaining health coverage for the 2014 calendar year is $95 for each household member or one percent of income, whichever is greater. That penalty will increase in 2015 to $325 for each household member or two percent of income, whichever is greater.
Individuals taking advantage of this special enrollment period will still owe a fee for any months they were uninsured and did not qualify for an exemption in 2014 and 2015.
As of Feb. 20, 158,685 individuals have enrolled in health care coverage through kynect for 2015.