Health Care Connection

Health Care Connection

A Wealth of Information about the Affordable Care Act and the Health Care Changes Ahead

ACA Penalty: What You Need to Know

By Jeff Saperstone
|  Thursday, Mar 27, 2014  |  Updated 7:28 PM EDT
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An expert talks about how the health insurance penalty could impact you.

An expert talks about how the health insurance penalty could impact you.

March 31 is the deadline to enroll for health coverage under the Affordable Care Act. After that day, individuals without insurance could face a penalty.

That penalty is $95 or 1% of your income, whichever is more.

Even though the White House extended that deadline, the State of Connecticut is not.

Monday remains the deadline but there are some exceptions that would allow you to enroll after then without penalty.

"If you have some sort of a life status change: a divorce or death, loss of insurance coverage through an employer, those would be considered life status changes and you would be able to obtain insurance as well," said Stephanie DeGrandi, a broker with the Health Consultants Group.

DeGrandi said it is important to save all documents, especially if you lose coverage because of a job loss.

"They're going to need to save them because they're going to need to provide proof to the insurance carrier that they enroll in, that they in fact lost coverage," she said.

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