Do Your Friends and Family Know about the Health Insurance Tax Penalty?
We are in full Open Enrollment swing right now, each day helping Orange County residents sign up or change their health insurance plans. Remember that Open Enrollment is the only time of year that you can make changes to your insurance plan without having a qualifying event, like having a baby, getting married, or changing jobs. So if you still need to get your insurance for 2020 squared away, give us a call at (888) 411-1095 or contact us today to schedule an appointment!
What if you don’t have health insurance in 2020? As the LA Times recently reported, a new state law is making health insurance coverage mandatory for Californians in 2020. If you don’t, you will be liable for a penalty come 2020 tax season. And that penalty could be a hefty one.
This new state mandate and the accompanying tax penalty is not news. We’ve known about it for a while and have been working hard to educate our customers so that they understand the risks – both medically and financially – of going without coverage next year. But in a world where it’s easy to get overwhelmed by the sheer number of news stories making the rounds on a daily basis, it’s easy to overlook or miss the message. So do your friends and family a favor by making sure they know what’s at stake if they don’t have insurance, and encourage them to take the proper steps to protect themselves and their families.