Obamacare Deadline March 31st; Important Points to Remember

March 31 is just around the corner and it is the deadline of Affordable Care Act open enrollment. If you missed the deadline and have not purchased health care coverage you may be penalized (tax penalty) on your 2014 taxes filed in 2015. You will also have to wait for the next open enrollment period.

If you have already insurance from your work, Medicaid, Medicare, or others you will not be penalized as long as it have the minimum standards under the Affordable Care Act.

Under the ObamaCare Act everyone is required to have health insurance or if you don't you will have to pay a tax penalty (in 2015 when 2014 taxes are filed). However, there are exemptions.

- The household income of your family is less than the IRS income tax filing requirement ($10,000 if you are single, $20,000 if you are married and filing jointly).
- If you are a member of ministries or religious sects, or of a federally recognized Native American tribe.
- If you are uninsured for less than three consecutive months in a year.
- If you can't afford to get an insurance because of financial difficulties or the lowest premium is more than 8% of your household income.
- If your insurance plan was recently cancelled and you can't afford a marketplace plan.
- If your health insurance does not meet minimum coverage standards, but your state insurance commissioner allows your insurer to continue to offer out of date plans until the October 1st, 2016 additional grace period.
- If you are 26 yearsold and below you can opt to stay on or be added to your parents' health insurance plan, even if you don't live with them.

Subsidies for the cost of health insurance - you can check if you are eligible for financial assistance from the US government, through subsidy. It will be determined based on your household income and family size. You easily check if you qualify for a tax subsidy by using the health care calculator from TurboTax. The subsidy can go directly to your health insurance provider when you purchase insurance if you are qualified. If you qualified you will pay a lower monthly health insurance premium.

Penalties:

In 2014 the amount of one-time penalty is $95 per adult, or 1% of your total income depending on your income. For uninsured children in your household, the penalty is $47.50 per child with a maximum family penalty of $285.

Visit HealthCare.gov to apply for health insurance, you can also compare plans, and enroll online. You can also apply by phone or get in-person help with your application.

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Jimmy Kimmel Take on ObamaCare (Affordable Care Act)

Jimmy Kimmel live opening monologue is about ObamaCare, he ridiculed the young people who are supporting the Law since they will be the one to be disadvantaged. Check out the video clip above.

Accenture is now the lead contractor for Obamacare website HealthCare.gov

Reuters recently reported that the Obama government awarded Accenture as the lead contractor for the Obamacare enrollment website. They will be replacing CGI Federal, which encountered  a lot of failures and bugs when they launched the website HealthCare.gov in October for millions of Americans shopping for health insurance. This was announced by the U.S. Centers for Medicare and Medicaid Services on Saturday.

When CGI build the website HealthCare.gov it was riddled with errors, slow speeds, and glitches that gave President Barack Obama a lot of problems and gave Republican another reason to repeal Obamacare.

CGI Federal announced last Friday that its contract that was awarded in 2011, will end on February 28, and would not be renewed.

Accenture said the contract was worth $45 million for the initial phase of the project, and the final value of the one-year contract would be about $90 million.

March 31 is the deadline for signing up for a 2014 health insurance under the Affordable Care Act, Accenture will need to be ready and take on the surge of last-minute sign-ups.

US Government Extends insurance Enrollment deadline by 24 hours

The deadline for registration for health insurance coverage on healthcare.gov has been extended by the Obama Government by 1 day. The deadline used be 11:59 p.m. last Monday.

Times said that on Monday there's a huge traffic on Healthcare.gov and the Whitehouse wants to be sure that people who wants coverage can have one.

Monday, December 23 had been the deadline for selecting a plan, it will take effect on the 1st day of the new year 2014.

Penalty: Under the Affordable Care Act or Obamacare, you will have to pay $95 penalty or 1% of income in 2014 if you don't have health insurance coverage. It is set to rise to $695 or 2% of income by 2016.

To avoid the penalty, you will need to enroll in a plan by February 15 or qualify for an exemption from the penalty.

Infographics on Why Others Can't Keep Their Old Insurance Plans

Check out the Infographics done by NYTimes, which explains why some people can't keep their insurance plans. It is very detailed and easy to comprehend. President Barrack Obama promised that people can keep their old insurance plan under the Obamacare, however the truth is most need to buy a new plan.

Thousand of Users are Visiting Online insurance Exchanges

FRANKFORT, KY. - More than 160,000 users have visited the kynect.ky.gov to check and review information about health insurance coverage. The online visitors also have viewed more than 2.6 million web pages on kynect since Kentucky launched the health benefit exchange last Tuesday.

Gov. Steve Beshear's office said in a news release Monday that more than 6,080 individuals and/or families are now enrolled in new affordable health care coverage that will go into effect on Jan. 1.

As of 4pm Monday, 142,242 people had completed the pre-screening process to determine if they qualify for subsidies and discounts for insurance policies or to determine if they qualify for Medicaid.

About 19,372 applications for health care coverage have been started and 12,955 are now completed.