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Open Enrollment in Health Insurance Marketplace Nearing End

Liberty Tax Service Poised to Assist Those Facing February 15 Deadline

VIRGINIA BEACH, VA -- (Marketwired) -- 01/29/15 -- Liberty Tax, Inc. (NASDAQ: TAX)

In less than three weeks, open enrollment in the Health Insurance Marketplace will end. Those who have not enrolled by February 15, will be unable to obtain Marketplace coverage for 2015 unless they face a qualifying life event, such as a change in income or family size. With health insurance agents at many of its offices, Liberty Tax is poised to assist those who have questions about coverage and cost and those who need to meet the February 15 deadline.

Already, millions of Americans and legal residents have applied for and received health insurance coverage. Still many are without coverage, and some may have chosen to forgo it because of cost. Those taxpayers may be surprised to learn that they are eligible for help in paying insurance premiums. During the first two months of open enrollment, from October 15 to December 15, 2014, more than 3.4 million people signed up for coverage in the Marketplace, according to the Department of Health and Human Services. Nearly 90 percent qualified for financial assistance for health insurance.

"Many of the people who typically file taxes early are among those eligible for insurance subsidies. Some still may be unaware of the health insurance law," said Chuck Lovelace, Vice President of the Affordable Care Act at Liberty Tax. "When they come in to have their taxes done, we will talk with them about the law and tax credits, and help them enroll, if needed."

Individuals who do not have insurance in 2015 and do not have 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.

Liberty Tax's income tax preparers can also help those who may qualify for exemptions to the health insurance law. Some taxpayers will be able to claim the exemption when they file their tax return. For those who cannot, Liberty Tax will be able to assist them in applying through the Marketplace.

Liberty Tax has made it easy for taxpayers to enroll in health care coverage by adding health insurance agents at many of its offices. Early filers can have their taxes prepared and get their health insurance coverage before the February 15 deadline.

Liberty Tax has made 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.

MEDIA CONTACT:
Martha O'Gorman
Chief Marketing Officer
Liberty Tax Service
(757) 301-8022
Email Contact

Source: Liberty Tax, Inc.