• Home

Bernd Meier

Home Affordable Care Act health insurance insurance coverage insurance exchange Kynect Medicaid obamacare Thousands of Kentuckians face federal tax penalty for not having health insurance

Thousands of Kentuckians face federal tax penalty for not having health insurance

Written by Unknown on 7:56 AM ,
"Thousands of Kentuckians might face a penalty this tax season for failing to sign up for health insurance during 2014," Mary Meehan reports for the Lexington Herald-Leader.

The state estimated that 340,000 Kentuckians would buy private insurance through its Kynect marketplace, but only 80,000 have done so. However, Meehan writes, some of those who did "might have qualified for Medicaid under the state's expanded income guidelines, said Carrie Banahan, who heads Kynect."

Jill Midkiff, spokesman for the state Cabinet for Health and Family Services, told Meehan, "There are too many variables at play here to do simple arithmetic for estimated populations. It would be safe to say that thousands of Kentuckians will likely face a tax penalty this year for not obtaining health insurance."

Banahan said, "A lot of people are going to be very surprised." And that will include some people who were eligible for Medicaid, but didn't enroll in it. Medicaid enrollment is open year-round, but private-insurance enrollment closes Sunday, Feb. 15 and won't reopen until next fall unless someone has a life-changing event "such as a birth, divorce or loss of a job," Meehan notes.

"The penalty for not having insurance during 2014 is $95 for each person in a household or 1 percent of the household income, whichever is higher," Meehan notes. "The bill will come due when 2014 taxes are filed, she said. If a person is due a refund, it will be deducted from the tax refund." Next year, the penalty will be 2 percent, with a minimum of $325 per adult or $162.50 per child, under provisions of the Patient Protection and Affordable Care Act.
Tweet
Newer Post Older Post

Popular Posts

  • Lexington is considering whether to add electronic cigarettes to its anti-smoking ordinance
    The Lexington-Fayette Urban County Council will discuss whether to expand its smoking ban to include electronic cigarettes, possibly as earl...
  • As part of UK campus food deal, Aramark puts up $5 million for Food Connection, vows to purchase Kentucky products
    By Melissa Patrick Kentucky Health News The University of Kentucky has entered a $5 million public-private partnership designed to promote ...
  • Heavy use of e-cigarettes may deliver big doses of formaldehyde, which can be a cause of lung cancer, study suggests
    Vapor produced by electronic cigarettes can contain a surprisingly high concentration of formaldehyde—a known carcinogen that can cause lun...
  • Ten common myths about diabetes busted
    Kentucky ranks 17th in diabetes, and many Kentuckians are newly diagnosed every year with the disease, usually Type 2 diabetes. The diagnosi...
  • Ky. ranks 8th in the number of high-prescribing Medicare physicians for powerful narcotic painkillers and stimulants
    Kentucky ranks eighth in Medicare physicians who are considered "high prescribers" of Schedule 2 medications, drugs that have the ...
  • Newport school board's smoking ban, which includes e-cigarettes, would be 38th among 173 Kentucky school districts
    The Newport Independent Board of Education  passed the first reading of a proposed smoking ban Wednesday, Jan. 28 after adding electronic ci...
  • Millions of children on Medicaid are missing free check-ups; Kentucky is a little below the national average
    Millions of low-income children across the country aren't getting free preventive exams and screenings guaranteed by Medicaid, and some ...
  • Obamacare seems to be no plus for Kentucky Democrats, perhaps mainly because of the word's first three syllables
    Though the federal health-reform law has helped cover more than half a million Kentuckians and cut the state's uninsured population by h...
  • McConnell seeks 'timely and fair review' of plan for Medicare coverage of CT scans for those at high risk for lung cancer
    U.S. Sen. Mitch McConnell asked Centers for Medicare and Medicaid Services  Administrator Marilyn Tavenner to "give a timely and fair r...
  • Research suggests eating only during a nine- to 12-hour time period can help maintain healthy weight
    For a long time, scientists supposed that eating after midnight was unhealthy, but now a study has provided support for the notion. When sci...
Bernd Meier © . All Rights Reserved. Powered by Blogger