Basics
- Obamacare Basics for Connecticut - (Basics)
Rates
- Obamacare Rates for Fairfield County - (Rates)
How to Enroll
- Obamacare Enrollment - (How to Enroll)
Financial Help
- Obamacare Financial Assistance - (Financial Help)
Life Situations
- Obamacare for Different Life Situations - (Life Situations)
- Using Your Obamacare Health Insurance Plan - (Using Your Plan)
- Obamacare News - (News)

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Obamacare Tax Penalty Information 2021

How Much Is the Obamacare Tax Penalty?

The Affordable Care Act (Obamacare) tax penalty has been set to zero, but some states have enacted their own health insurance requirements.

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What Connecticut Residents Need to Know About Obamacare for 2021
 
How To Sign Up for Obamacare in Connecticut

Updated: 2020-10-02 by

There's No Federal Tax Penalty for Being Uninsured

Legally, the Affordable Care Act -- aka Obamacare -- still says that you must have health insurance. Practically speaking, however, the tax penalty for being uninsured has dropped to zero. That means you'll still have to report your coverage status on your federal tax return, but you won't have to pay a penalty if you aren't covered.

A handful of states have passed their own health insurance requirement to replace the federal mandate. As we approach open enrollment for 2021 health plans, those states are California, the District of Columbia, Massachusetts, New Jersey, Rhode Island, and Vermont.

Even though there's no more tax penalty in most states, it's usually unwise to go uncovered. A medical crisis could do much more damage than the former penalty would have. (A study published in 2019 showed that a lapse in health insurance coverage can double a person's chances of ending up in bankruptcy.) And if you miss the upcoming open enrollment period for 2021 health plans and find yourself needing coverage mid-year, you’ll have to wait until 2022 to get it.

Learn More

To find out how to get covered, see How to Sign Up for Obamacare in Connecticut.

For information about costs, see How Much Does Obamacare Cost in Connecticut?.

 

What Connecticut Residents Need to Know About Obamacare for 2021
 
How To Sign Up for Obamacare in Connecticut

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