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Health Care Reform Guide
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2015 Health Insurance Open Enrollment begins November 15, 2014 and ends February 15, 2015

2014 Individual Health Care Mandate

Penalty: Failure to purchase individual health insurance with result $95 penalty or 1% of an individual’s income.

  • In 2015, for an uninsured person there will be a $325 penalty or 2% of a household income.
  • In 2016 and beyond, for an uninsured person there will be a $695 penalty or a 2.5% of a household income.

***Consumers who can afford health insurance but decide not to buy it will owe penalties to the IRS when they file their taxes in the spring of 2015.

Exceptions to this Mandate Include:

  • If you have an income below the federal income tax.
  • If you were uninsured for short coverage gaps of less than three months.
  • If you cannot afford coverage based on the formulas contained in the law.
  • If you are a member of an Indian tribe.
  • If you have a hardship waiver from the Secretary, or any residence outside of the United States, or a bona fide residents of any possession of the United States.
  • Individuals who have a religious exemption, those not lawfully present in the United States, and incarcerated individuals are exempt from the minimum essential coverage requirement.

McLeod Insurance Agency, LLC, since 1971

McLeod Insurance Agency, LLC is an independent authorized producer/agency licensed to sell and promote products from Blue Cross and Blue Shield of North Carolina® (BCBSNC®). The content contained in this site is maintained by McLeod Insurance Agency, LLC. Blue Cross and Blue Shield of North Carolina® is an independent licensee of the Blue Cross and Blue Shield® Association. ® Registered mark of the Blue Cross and Blue Shield Association (SM) Service mark of the Blue Cross and Blue Shield Association®