Many uninsured Americans who owe a tax penalty under the Patient Protection and Affordable Care Act are opting to pay the penalty and not get insurance, according to The Wall Street Journal.
Although the most recent open enrollment period ended Feb. 15, people may still sign up for coverage through April.
According to the report, people who owe a fee for not having coverage for one or more months in 2014 and face a penalty in 2015 must pay any penalty they owe for not having coverage but can obtain coverage during the special enrollment period and not generate any more fines.
So far, though, a lot of people aren't taking advantage of the special enrollment period, major tax-preparation firms told The Wall Street Journal. And, according to the report, research suggests that many uninsured people will chalk up the penalty and not get covered this year. The report specifically cites a survey of 3,000 adults polled through Feb. 24 by McKinsey & Co.'s Center for U.S. Health System Reform, which shows only 12 percent of uninsured people would buy policies if they knew about the penalty.
The U.S. government previously estimated that up to six million households may have to pay a penalty because they did not have health insurance coverage last year. But the government hasn't indicated how many people are expected to sign up for health insurance while the special enrollment period is going on.
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