H&R Block helps customers sign up for health insurance

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Andrew Grumke | KCBJ

H&R Block has teamed up with GoHealth to offer free health insurance enrollment services to help clients avoid tax penalties under the Affordable Care Act.

James Dornbrook

Reporter- Kansas City Business Journal

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H&R Block Inc. has teamed up with GoHealth to offer free health insurance enrollment services to help clients avoid tax penalties under the Affordable Care Act.

The ACA requires most people to have health insurance or face a tax penalty that will increase substantially in 2015. Penalties will increase from $95 a person to $325 in 2015, or from 1 percent of household income above the filing threshold to 2 percent, whichever is greater. So a married couple with no children earning $65,000 could see a penalty of almost $900.

Recognizing the tax implication of the ACA, H&R Block CEO Bill Cobb has made it clear through numerous statements in the past year that guiding customers through the enrollment process would be a key focus for the company (NYSE: HRB) for the next few years.

H&R Block's enrollment services offer personalized advice and enable clients to compare plans offered on and off the federal and state marketplaces.

"Not all plans are created equal," Mark Ciaramitaro, H&R Block's vice president of enrollment services, said in a release. "Knowing the true cost of the plan and all potential out-of-pocket expenses are as important as the monthly premium. Consumers will want to make their insurance work for them instead of them working for their insurance."

The enrollment period for the ACA Marketplace is open from Nov. 15 to Feb. 15.

James reports about banking, financial services, manufacturing and sports business.