Insurance deadline is today

Pamela Yip

It’s last call for those who want to sign up for a health care plan through the federal insurance marketplace.

Today is the deadline to sign up, though the federal Health and Human Services Department has outlined "special enrollment periods" for broad groups of people trying to access the online health insurance markets.

Potentially millions of people will still be able to take advantage of extensions announced last week. For instance, those who start an application but aren’t able to finish before Monday’s open enrollment deadline will get a limited amount of time to complete the process for coverage that takes effect May 1.

Last Thursday, the White House said more than 6 million Americans had signed up for private insurance under the Affordable Care Act. No state figures were available.

"Right now we are seeing a surge in consumers coming to HealthCare.gov and calling call centers," said Julie Bataille, spokeswoman for the Centers for Medicare & Medicaid Services, which is charged with the rollout of the health insurance exchanges. "We’re working hard to ensure that our systems can handle record-high consumer demand over the next few days."

If you want insurance but worry that you can’t afford the cost, you may be eligible for a tax credit to offset the premiums for health plans purchased through the insurance exchange.

You may be eligible for the credit if you meet all of the following:

Buy health insurance through the insurance marketplace.

Are ineligible for coverage through an employer or government plan.

Are within certain income limits.

File a joint tax return, if married.

You can’t be claimed as a dependent by another person.

Under the ACA, the subsidies are tied to the federal poverty level. If you make less than four times or 400 percent of the federal poverty line, you may qualify.

You’ll generally qualify for a premium tax credit if your income falls within the following ranges. The lower your income is within these ranges, the bigger your credit.

$11,490 to $45,960 for individuals.

$15,510 to $62,040 for a family of two.

$19,530 to $78,120 for a family of three.

$23,550 to $94,200 for a family of four.

If you qualify, you have two options:

Have some or all of the estimated credit paid in advance directly to your insurance company to lower what you pay out of pocket for your monthly premiums this year.

If you choose to have advance payments sent to your insurer, you will have to reconcile the payments on your 2014 tax return, which will be filed in 2015.

Wait to get the credit when you file your tax return in 2015.

"Pay premiums as soon as possible so that your coverage will begin at the earliest possible date," said Brian Haile, senior vice president for Health Policy at Jackson Hewitt Tax Service Inc. "I lean toward recommending that customers accept most, if not all, of the advance payments unless they are in jeopardy of going over the 400 percent federal poverty line threshold."

In a special move aimed at victims of domestic violence, the U.S. Treasury Department and Internal Revenue Service released instructions last week that will allow victims to claim the tax credit.

The guidance says that a married person living apart from his or her spouse and who’s unable to file a joint return because of domestic abuse will be able to file as "married filing separately" and still claim the tax credit.

"For victims of domestic abuse, contacting a spouse for purposes of filing a joint return may pose a risk of injury or trauma or, if the spouse is subject to a restraining order, may be legally prohibited," the instructions said.

The guidance was necessary because the IRS has interpreted the law to mean that married taxpayers could claim the premium tax credit only if they filed a joint return, Haile said.

"Today’s news helps to ensure that more survivors of domestic violence will have access to the premium tax credits and qualified health plan coverage," he said.


Follow Pamela Yip on Twitter at @pamelayip.
IN THE KNOW: Where to sign up
People wanting to buy private health insurance through the federal government's insurance marketplace have until Monday to sign up at HealthCare.gov (1-800-318-2596) or elsewhere.

Local opportunities to sign up for health insurance include:

Planned Parenthood offices in Dallas, North Dallas, Addison, Mesquite, Plano, Denton, Lewisville, West Fort Worth and southwest Fort Worth

Adolescent Health and Wellness Community Fair, Dallas

National Hispanic Council on Aging, Farmers Branch

Bluitt-Flowers Health Center, Dallas

DeHaro-Saldivar Health Center, Dallas

East Dallas Health Center, Dallas

Garland Health Center, Garland

Irving Health Center, Irving

Southeast Dallas Health Center, Dallas

Oak West Health Center, Dallas

Vickery Health Center, Dallas

Parkland Hospital- Main Campus, Dallas

SOURCE: Dallas Morning News research