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January 27, 2014 at 11:25 AM
Yet another survey is out underscoring the ongoing confusion many are experiencing over the Patient Protection and Affordable Care Act while stressing the challenges the administration has in getting Americans signed up for coverage under the law.
More than half of Americans (55 percent) still don’t know that the deadline to sign up for health insurance under PPACA is March 31, according to a Bankrate.com report released Monday. Confusion over the deadline was highest among the 18-to-29 age group, those who make less than $30,000 annually, and those without college degrees.
About one in four Americans (24 percent) incorrectly think the deadline already passed on Jan. 1. And 11 percent think they have until Dec. 31 to sign up, a full nine months after the deadline.
Though it’s no secret Americans have been confused by the law’s details, it’s surprising so many aren’t sure of the deadline when those who miss it will pay a tax penalty under the law and be forced to wait until next year’s open enrollment to get insurance – unless they experience a qualifying event such as marriage in the interim.
In 2014, the penalty is $95, or 1 percent of a person’s income, whichever is higher. The penalty escalates in subsequent years.
