VIRGINIA BEACH, VA -- (Marketwired) -- 02/10/15 --
Liberty Tax, Inc. (NASDAQ: TAX)
Sunday is the last day for individuals to enroll in health insurance in the Marketplace. Liberty Tax recognizes the encroaching deadline and has made several valuable resources available that consumers can access to assist in making their health insurance decisions. These resources include an easy-to-read e-book on the Affordable Care Act (ACA) and its requirements; an online site that includes tools such as an exemptions guide and a subsidy calculator, and health insurance agents onsite at participating locations.
Because health insurance and taxes have intersected under the ACA, Liberty Tax is working hard to ensure that consumers are equipped with the information they need about health insurance and the realization that the February 15 deadline for enrollment comes much sooner than the April 15 deadline to file their taxes.
"Liberty Tax is the source for consumers still trying to make informed health insurance decisions," said Chuck Lovelace, Vice President of the Affordable Care Act at Liberty Tax. "If they don't have the answers, we can provide them, and we can get people enrolled by the deadline."
U.S. citizens and legal residents who do not enroll by the February 15 deadline will not be able to obtain Marketplace coverage for 2015 unless they face a qualifying life event, such as a change in income or family size. Those without insurance or a coverage exemption will pay the greater of these two penalties:
- 2% of annual taxable household income, with a cap at the national average premium for a bronze plan in the health insurance Marketplace;
- $325 per person and $162.50 per child under 18, with a cap of $975 per family.
To make the health care law more accessible to consumers, Liberty Tax created "The Ultimate Guide to Health Insurance & Taxes." The book can be downloaded at www.LibertyTax.com. It explains tax credits and subsidies that are available to help lower insurance premiums, details the differences between the Obamacare "metal" plans, and lays out the consequences for the uninsured who do not qualify for exemptions.
At its website www.LibertyTax.com, Liberty Tax provides a subsidy calculator, where consumers can input their information and receive an estimate on government assistance they may receive to help pay health insurance premiums. Those who believe they may not be required to have coverage can use the Exemptions Guide, which is also available at the website.
With these health insurance tools, Liberty Tax puts relevant information at consumers' fingertips. Liberty Tax also makes it easy for consumers to find a health insurance agent to discuss coverage and enroll in a plan. Since November, Liberty Tax has made health insurance agents available onsite at participating offices. These services will continue to be available to consumers through the February 15 deadline for open enrollment.
Along with health insurance, Liberty Tax is ready to assist clients with tax preparation services. Early filers can have their taxes prepared and obtain health insurance coverage before the February 15 enrollment deadline. Liberty Tax makes the merger of health insurance information and income tax preparation a seamless process for consumers.
About Liberty Tax, Inc.
Founded in 1997 by CEO John T. Hewitt, Liberty Tax, Inc. (NASDAQ: TAX) is the parent company of Liberty Tax Service. Liberty Tax is one of the fastest-growing tax preparation franchises and has prepared almost 18 million individual income tax returns in more than 4,400 offices and online. Liberty Tax's online services are available through eSmart Tax, Liberty Online and DIY Tax, and are all backed by the tax professionals at Liberty Tax locations and its nationwide network of approximately 35,000 seasonal tax preparers. Liberty Tax also supports local communities with fundraising endeavors and contributes as a national sponsor for many charitable causes. For a more in-depth look, visit Liberty Tax Service and interact with Liberty Tax on Twitter and Facebook.
Chief Marketing Officer
Liberty Tax Service
Source: Liberty Tax, Inc.