Californians must have health insurance in 2020 — that’s the new law. Without it, you may face a penalty when filing your California state tax return.
The penalties are steep. The minimum penalty for an individual not having health insurance is $695. The minimum penalty for a married couple if $1,390 and the minimum penalty for a family of four (two children) is $2,085.
If you don’t have qualifying health insurance in 2020, you could face a California state penalty at tax time, unless you qualify for an exemption.
Qualified health insurance coverage includes employer-sponsored plans, coverage purchased through Covered California or directly from insurers, Medicare, and most Medi-Cal plans.
If you don’t already have insurance and weren’t aware of the law, you are in luck. You now have until April 30 to sign up for a quality health plan. And with more financial help from the state than ever before, there’s more money for people through Covered California.
All it takes is 5 minutes.
- Click here.
- Click “Shop Compare,” and answer a few easy questions
- If you oneed assistance, click “Find Help”
The population of the uninsured changes every year: With new people turning 26, moving to the state or leaving employer-based coverage to work on their own, there is a new group of Californians to inform every year. That group now includes people with higher incomes who qualify for financial help for the first time.
“California made a commitment to encourage more people to get covered through the penalty and by making that coverage more affordable through new financial help,” Covered California Executive Director Peter V. Lee has said. “Together the penalty and new subsidies are powerful tools to making sure that Californians follow the law and sign up for a health insurance plan that will protect them and their family. We want to make sure they know about it.”
- Health Insurance: Pixaby