Individuals and families who did not have health coverage in 2014 and, consequently, had to pay a fee or “shared responsibility payment” when filing their 2014 taxes may be eligible for coverage in 2015. HealthSource RI has announced it will offer a special enrollment period (SEP), from March 15th through April 30th for qualified Rhode Islanders.

How the SEP will help

2014 marks the first year that individuals and families have to specify whether they have health coverage on their tax returns, and for those who did not have coverage could be surprised at the fee they are subject to. It might not be fully clear who is eligible for an exemption in addition to this, and many will not qualify for an exemption.

The SEP will help:

• Guarantee that those who did not receive insurance in 2014 will be able to enroll in coverage for this year.
• Better explain the legal requirements for eligibility and requirements for coverage in RI.

Eligibility Requirements

In order to be eligible for this SEP, the individual/ family must:

• NOT be enrolled in coverage through HealthSource RI for 2015.
• Give proof that they paid the fee for not having health insurance coverage in 2014.
• Verify that they realized or understood the implications of the Shared Responsibility Payment only after the end of the 2015 Open Enrollment Period (February 15, 2015) when filing their returns.

Keep in mind that:

• If the individual/ family does not qualify for an exemption they will have to pay a fee of $95 per adult or 1% of income (whichever is greater) when filing their 2014 taxes.
• For 2015, the fee is up to $325 per adult or 2% of income!
• Individuals and families that are eligible for the new SEP will have to pay the fee for 2014, but if they get coverage for the rest of this year, they will be able to mitigate the fee for 2015.
• Individuals and families who neglect to purchase coverage for 2015 during the SEP will have to pay a fee.

Interested in enrolling? We can Help!

Be sure to bring the following items with you when enrolling:

• Valid Identification
• Social security numbers
• Immigration documents
• 2014 tax form and tax information
• Information about current income (Bring four weeks of pay stubs if you can.)
• Any current health insurance information
• Current information on doctors that you want to keep

Individuals and families who qualify will have coverage effective on April 1st if they choose a plan and pay the first month’s premium by March 23rd! For more information and details on applying contact us.