How to get amnesty from health care penalty

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How to get amnesty from health care penalty
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TRANSCRIPT: If you go to do your federal tax return and there is an oops there that you owe a big penalty for not having gotten a healthcare plan last year, well i want to tell you there is a special amnesty provision under way right now. Instead of you having to pay the penalty for last year, you can enroll late for healthcare coverage this year and the government will waive the penalty you owe from Obamacare from 2014.

So here is how it plays. You go to do your tax return and it says you’re going to owe a penalty for not having health coverage. You then can go to healthcare.gov and right here you see if you qualify. You click the button. They will sell you a plan for this year and then that will exempt you out of the penalty for last year and the even bigger penalty you would owe for not having health coverage this year when you do your return next year. So it’s a double benefit to your wallet if you sign up in overtime. I’m Clark Howard.

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