March 31, 2014 deadline to enroll in health insurance could be delayed.

2014

Given the enrollment problems during the rollout of Obamacare, resulting confusion and the lower than expected enrollment to date, it’s my opinion that the enrollment deadline of March 31, 2014 may well be extended.

It would be better for the Administration to face criticism over another delay than election year flack over unfair penalties imposed on people and Americans who want coverage left with no insurance. In addition, an extended enrollment period would give insurers a chance to increase their customer base. However, if you need coverage, better not take any chances.

If you need coverage and especially if you are eligible for tax credits based on your income, don’t wait until the last minute on March 31 to enroll. There is likely to be another last minute crunch on enrollment systems.

Generally, if you enroll by the 15th of the month and pay your premium, your coverage is effective the first of the following month. However, if you enroll on the 16th or after, your coverage won’t be effective until the first of the second month. In this case that’s May 1, 2014.

Penalties for not having coverage will apply to any individual (with certain exceptions) without insurance for more than three months in a year.