SOURCE: Liberty Tax, Inc.

Liberty Tax, Inc.

December 16, 2014 08:30 ET

Survey Reveals Affordable Care Not So Affordable

Liberty Tax Service Can Help Consumers Weigh Health Insurance Options

VIRGINIA BEACH, VA--(Marketwired - Dec 16, 2014) - Liberty Tax, Inc. (NASDAQ: TAX)

Do you have health insurance? Liberty Tax Service posed that question in a mobile survey of adults, 18 and older. Surprisingly, in this time of mandated health insurance, 54 percent said, "no." Liberty Tax Service has the tools to help those individuals weigh health coverage options or apply for coverage exemptions, should they be eligible.

"Inaction is not the best response when it comes to health insurance," said Chuck Lovelace, Vice President of the Affordable Care Act for Liberty Tax Service. "At the very least, individuals need to look at what's out there, consider the options, and make an informed decision."

The Liberty Tax survey was conducted in November via Thumb Pro. It included 500 mobile respondents. Those who offered comment cited cost as a factor in their decision not to have coverage. Even those respondents who did have coverage indicated a dissatisfaction with insurance costs.

Liberty Tax is equipped to help those individuals weigh insurance costs and make wise decisions about coverage. At many Liberty Tax locations, health insurance agents can help individuals research insurance plans, apply for tax credits to subsidize costs and apply for coverage exemptions, whichever option best suits the customer.

Liberty can also help individuals get a head start on their taxes by examining any health care penalty they may be assessed when they file their 2014 income taxes. For 2014, individuals who did not have coverage or a coverage exemption will pay 1% of annual taxable household income or $95 per adult and $47.50 per child, whichever is greater. In 2015, the penalty will increase to 2% of annual taxable household income or $325 per adult and $162.50 per child, whichever is greater.

"The higher penalty makes it even more important that folks sit down with a tax professional and really consider the best choice for themselves and their families," said Lovelace. "That's what we can do for people when they come to Liberty. We can help them look at the whole picture -- including the tax picture -- and choose wisely."

About Liberty Tax, Inc.
Founded in 1997 by CEO John T. Hewitt, Liberty Tax, Inc. (NASDAQ: TAX) is the parent company of Liberty Tax Service. Liberty Tax is one of the fastest-growing tax preparation franchises and has prepared almost 18 million individual income tax returns in more than 4,400 offices and online. Liberty Tax's online services are available through eSmart Tax, Liberty Online and DIY Tax, and are all backed by the tax professionals at Liberty Tax locations and its nationwide network of approximately 35,000 seasonal tax preparers. Liberty Tax also supports local communities with fundraising endeavors and contributes as a national sponsor for many charitable causes. For a more in-depth look, visit Liberty Tax Service and interact with Liberty Tax on Twitter and Facebook

Contact Information

  • MEDIA CONTACT:
    Martha O'Gorman
    Chief Marketing Officer
    Liberty Tax Service
    (757) 301-8022
    Email Contact