Great news! The NY State of Health just announced a Special Enrollment Period (SEP) for uninsured New Yorkers who are facing a tax penalty for 2014. The new SEP will run from March 1 through 11:59 on April 30, 2015.
Some uninsured New Yorkers may first become aware of the tax penalty for not enrolling in coverage when they file this year’s tax returns. The new SEP will allow those New Yorkers to enroll in health coverage now in order to avoid running into the penalty when they file their taxes next year. The tax penalty will increase in 2015 and in 2016.
The State’s announcement followed a similar announcement from the Centers for Medicare and Medicaid Services (CMS) for the Federally-Facilitated Marketplace earlier today.
Opening new coverage opportunities for New York families while helping to ease next year’s tax burden? We think that’s a great combination.
Read the State’s press release here.