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Small Business Employee Benefits and HR Blog

Do You Know the Individual Mandate Penalty Deadline? [Poll]

Do you know the deadline to sign up for individual health insurance coverage to avoid the individual mandate tax penalty in 2014? Would you expect the general public to know this deadline?

A recent poll by Bankrate.com found that fewer than half (45%) of all respondents correctly identified the March 31 cutoff to purchase individual health insurance and avoid the individual mandate tax penalty in 2014. However, this rate was higher than what some experts predicted. Most Americans are covered by job-based health insurance and are not shopping for new health insurance coverage through the health insurance exchanges.

Here's a look at the results of the poll, conducted January 16-19, 2004 with 1,006 adults living across the continental U.S.

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What is the deadline for enrolling in an individual health plan to avoid the individual mandate?

According to the poll, 45% answered correctly - March 31, 2014.

  • 43% of young adults between the ages of 18 and 29 knew the correct deadline

  • 48% of individuals earning $75,000 or more knew the right answer, compared with 40% of those earning less than $30,000

  • 54% of college graduates chose the correct deadline, compared to 40% with a high school education or less

Will the deadline change? 

According to the poll, 62% thought the deadline for signing up for coverage would be delayed with 29% saying the deadline would stick.

Feb2014HIP2
  • 36% of individuals earning less than $30,000 a year said the government would stick to the deadline, compared with only 24% of those earning $75,000 or more.

  • 49% of respondents identifying as Democrats said the government would push back the deadline, while 72% of Republicans felt that way.

Click here to read the poll results at Bankrate.com.

For a complete list of important deadlines for avoiding the individual mandate penalty, as well as for information about special enrollment periods and exemptions to the individual mandate, see this article.

What do you think? Leave a comment or question below.