Health Insurance Application Similar to Taxes
Health Insurance Application Similar to Taxes

Health Insurance Application Similar to Taxes

The new draft health insurance application for the Affordable Care Act has been released, and in many way the new health insurance application is similar to a tax return.  Of course, a tax return doesn’t ask if you are pregnant or if you were ever in foster care.  A tax return does ask you for your wages, self employment income and other income.  So will the health insurance application.

In its current form, the standard health insurance application for Affordable Care Act insurance is 21 pages long, but could be longer or shorter depending on how many individuals will be on your family plan.  Things you will need to have in order to complete the application include your income information, proof of citizenship, and details on the health insurance provided by your employer.

While the Affordable Care Act’s health insurance application asks for a lot of concrete information, not all the questions are black-and-white.  For example, the application asks “Do you think your employer’s coverage is affordable?” We think that’s a little like asking “Do you enjoy paying taxes?” But we digress.

Much of the information that is required for this form can be found with your tax information, and we will be equipped to help people complete the form when the time comes.  However, be prepared to answer some very personal questions and to have all of your personal identifying and financial documents ready.  And–surprise, surprise–just like a tax return, there is a penalty for non-compliance.  Starting in 2014 there will be a penalty assessed on your taxes if you do not purchase health insurance or obtain coverage through your employer.  The penalty is known as the “individual mandate,” ruled constitutional by the Supreme Court last year. Expect the information gathered in this application process to be tied in to your tax return when you file in 2015.

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