I’ve just completed my 2017 income tax return and realized I owe a penalty because I was uninsured for all (or part of) 2017. I still don’t have health insurance and worry I will owe an even bigger tax penalty next year as a result. But I didn’t apply for 2018 coverage during Open Enrollment. Is it too late to do anything?
Possibly. You might still experience a life change (for example, due to a change in family status) that would qualify for a special enrollment opportunity. If so, you would be able to sign up for coverage before the end of this year. If you do have a qualifying event later this year, be sure to sign up for coverage as soon as possible so you won’t owe a penalty for being uninsured for the remaining months of the year. Otherwise, be sure to apply for coverage during the next Open Enrollment period so you won’t also owe a tax penalty next year.