New Research Shows Many Californians Still Unaware of Tax Penalty if They Forgo Health Coverage
Research from Covered California shows that 56% of uninsured Californians are unaware that under new legislation passed last year, California requires residents to have health insurance or face a penalty. Additionally, 62% of uninsured Californians are also unaware that they can get financial help to pay for health insurance in 2020. A family of four could face at least $2000 if they fail to comply with the new Individual Shared Responsibility penalty.
This is why Covered California Executive Director Peter V. Lee and State Controller and Franchise Tax Board Chair Betty T. Yee urged Californians to get health insurance. Open Enrollment is still underway with a lot of help available for those who need it. More than 500,000 Californians have already qualified for subsidies available to help lower the cost of their health coverage.
California’s Open Enrollment period runs through January 31. To read the whole story and learn how to enroll, click here.
Are you a broker who’s interested in learning more about selling in the Individual Market? Click here to learn more about our services in the space and to connect with our team.