Active Coverage Required by March 1, 2014 to Avoid Penalties Under ACA

In order to avoid paying the penalty mandated by the Affordable Care Act (ACA), Americans should have active medical coverage by March, 1, 2014.  The Congressional Budget Office projected that approximately 6 million Americans will pay the penalty in 2016.

The open enrollment period runs through March 31, 2014; however, the insurance plans require time to take effect after enrollment, and the ACA requires a citizen to have an active policy as of March 31.  Thus, plans must be purchased by mid-March 2014 in order to avoid a penalty.

Read more here.

For guidance on enrollment for Medicare beneficiaries, click here.  

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