As part of the Affordable Care Act (ACA), starting January 1, 2014, most taxpayers will be required to maintain medical plan coverage or pay a tax penalty on their personal income tax filing. The tax penalty for failure to maintain coverage (referred to as an individual shared mandate) is the greater of a flat dollar amount or a percentage of your household income. This means that you need to elect medical coverage by January 2014 in order to avoid paying the tax penalty.
The following documents will help you understand and comply with ACA requirements - which require that individuals maintain health insurance, or pay a tax penalty.
Visit www.colorado.gov/health for more information.
Employee Resources
- What does the Affordable Care Act mean for State Employees
- State of Colorado ACA Cover Letter
- Summary of Exchange Notice
- Health Insurance Marketplace Coverage Options
- Exchange Notice FAQs
- More Information About ACA