Do I need to sign up for ACA for a few weeks to avoid penalty?
March 28, 2014 11:15 AM Subscribe
ACA penalty question. There is a 99% likelihood that I am about to be hired by a company that will provide me health coverage beginning on April 7th. I have not been given a formal offer, but I have been given verbal assurance, and I have every reason to believe I will receive an offer next week. The ACA deadline is March 31st. Do I need to sign up for ACA to cover the week between March 31 and April 7 in order to avoid paying a penalty?
posted by scarylarry to Work & Money (5 answers total) 4 users marked this as a favorite
I am currently working as a contractor, with no benefits, for a company that is about to make me permanent, with benefits. I have not received a formal offer, but I had an interview yesterday at which I received verbal assurance that I would be hired, starting around April 7th.
I am currently uninsured and in good health. As there is a 99% likelihood that I'll have health coverage provided through my company starting in a week or two, I am reluctant to sign up for ACA. However, I want to avoid a penalty at the end of the year.
Do I need to sign up for ACA coverage to avoid the penalty, or will it be sufficient that I am insured from April 7th forward? I admit to being pretty confused about the requirements and regulations.
Thanks so much for your help.