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Obamacare in 2015

Affordable Care Act 2015 Statistics

This section outlines Obamacare rules for 2015 including open enrollment dates, Federal Poverty Line Obamacare_affordable_care_act_statisticslevels, and the individual and employer shared responsibility fees.

Open Enrollment for 2015

Under Obamacare, there are now annual open enrollment periods for guaranteed-issue individual health insurance. There are two types of enrollment periods: (1) annual open enrollment periods; and (2) special enrollment periods.

As the chart below shows, the annual enrollment period for coverage in 2015 begins November 15, 2014 and extends through February 15, 2015. During this time, anyone can purchase any health plan available on the individual market, or change plans.

If you fail to purchase health insurance coverage during the annual enrollment period, you will be unable to purchase coverage until the following year unless you qualify for a special enrollment period.

COVERAGE YEAR

ANNUAL OPEN ENROLLMENT PERIOD

2015

November 15, 2014 – February 15, 2015

2016

November 1, 2015 - January 31, 2016

2017

October 15, 2016 - December 7, 2016

2018

October 15, 2017 - December 7, 2017

2019

October 15, 2018 - December 7, 2018

2020

October 15, 2019 - December 7, 2019

Note: These dates are current as of March 2015. Dates are subject to change.

Federal Poverty Line for 2015

The Federal Poverty Line (FPL) is a standard measurement of household income, used to determine eligibility in Medicaid, CHIP, and the premium tax credits. The most current FPL levels are for 2014. The FPL is adjusted annually for inflation.

The following FPL charts show the FPL levels for the 48 contiguous states and DC, as well as for Hawaii and Alaska.

FPL (2014) for 48 Contiguous States and DC

 

Annual Household Income & Percent of FPL (2014)

 Family Size

100%

138%

150%

200%

300%

400%

1

$11,670

$16,105

$17,505

$23,340

$35,010

$46,680

2

$15,730

$21,707

$23,595

$31,460

$47,190

$62,920

3

$19,790

$27,310

$29,685

$39,580

$59,370

$79,160

4

$23,850

$32,913

$35,775

$47,700

$71,550

$95,400

5

$27,910

$38,516

$41,865

$55,820

$83,730

$111,640

6

$31,970

$44,119

$47,955

$63,940

$95,910

$127,880

7

$36,030

$49,721

$54,045

$72,060

$108,090

$144,120

8

$40,090

$55,324

$60,135

$80,180

$120,270

$160,360

FPL (2014) for Hawaii

 

Annual Household Income & Percent of FPL (2014)

Family Size

100%

138%

150%

200%

300%

400%

1

$13,420

$18,520

$20,130

$26,840

$40,260

$53,680

2

$18,090

$24,964

$27,135

$36,180

$54,270

$72,360

3

$22,760

$31,409

$34,140

$45,520

$68,280

$91,040

4

$27,430

$37,853

$41,145

$54,860

$82,290

$109,720

5

$32,100

$44,298

$48,150

$64,200

$96,300

$128,400

6

$36,770

$50,743

$55,155

$73,540

$110,310

$147,080

7

$41,440

$57,187

$62,160

$82,880

$124,320

$165,760

8

$46,110

$63,632

$69,165

$92,220

$138,330

$184,440

FPL (2014) for Alaska

 

Annual Household Income & Percent of FPL (2014)

Family Size

100%

138%

150%

200%

300%

400%

1

$14,580

$20,120

$21,870

$29,160

$43,740

$58,320

2

$19,660

$27,131

$29,490

$39,320

$58,980

$78,640

3

$24,740

$34,141

$37,110

$49,480

$74,220

$98,960

4

$29,820

$41,152

$44,730

$59,640

$89,460

$119,280

5

$34,900

$48,162

$52,350

$69,800

$104,700

$139,600

6

$39,980

$55,172

$59,970

$79,960

$119,940

$159,920

7

$45,060

$62,183

$67,590

$90,120

$135,180

$180,240

8

$50,140

$69,193

$75,210

$100,280

$150,420

$200,560

Individual Shared Responsibility Fee in 2015

Obamacare requires certain individuals to purchase health insurance or else pay a fee at tax time. This is called the "Individual Shared Responsibility Fee" or "Individual Mandate".

What is the Individual Shared Responsibility Fee?

The Individual Shared Responsibility provision requires you and each member of your family to either:

  • Have minimum essential coverage, or

  • Have an exemption from the responsibility to have minimum essential coverage, or

  • Make a shared responsibility payment when you file your 2014 federal income tax return in 2015.  

You are required to report minimum essential coverage, report exemptions, or make any Individual Shared Responsibility payments when you file your federal income tax return.

How Much is the Individual Shared Responsibility Fee in 2015?

If you don’t have coverage in 2015, you’ll have to pay the higher of these two amounts when you file your 2015 taxes (in 2016):

  • 2% of your yearly household income. (Only the amount of income above the tax filing threshold is used to calculate the penalty. For 2015, the federal tax filing threshold is $10,150 for a person who files as a single, $20,300 for somebody who files jointly.) The maximum penalty is the national average premium for a bronze plan.

  • $325 per person for the year ($162.50 per child under 18). The maximum penalty per family using this method is $975.

The fee increases each year.

Read more about the Individual Mandate here.

Employer Shared Responsibility Fee in 2015

The Affordable Care Act requires certain large employers to either offer employees health insurance, or be subject to a penalty. This is called the "Employer Mandate" or "Employer Shared Responsibility" fees.

Employer Shared Responsibility Fee Rules for 2015

The administration has offered transitional relief in 2015 for the Employer Shared Responsibility fee. Here are the rules for 2015.

For 2015, if an employer with at least 50 full-time employees (including full-time equivalents) does not offer "minimum essential" and "affordable" coverage -- or offers coverage to fewer than 70% of its full-time employees (and their dependents) -- the employer will owe an Employer Shared Responsibility fee IF one of their employees purchases a health plan through the exchanges and receives a federal tax credit or subsidy.

To summarize for 2015:

  • The employer shared responsibility fee only applies to employers with 50+ FTE employees.

  • The employer is subject to the fee if they do not offer minimum essential, affordable coverage to at least 70% of full-time employees.

  • The Employer Shared Responsibility fee is equal to the number of full-time employees the employer employed for the month (minus 80) multiplied by 1/12 of $2,000, provided that at least one full-time employee receives a premium tax credit/subsidy for that month.

     

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