In January, about 70 percent of uninsured consumers who used TurboTax filed tax exemptions from the Affordable Care Act tax penalty, according to TheStreet.
Here are five takeaways:
1. The ACA requires all consumers to purchase health insurance or pay a penalty of $325 or 2 percent of their household income.
2. The uninsured consumers blamed the costliness of coverage through their employer or geographic region as barriers to purchasing coverage.
3. Those consumers who experienced financial difficulties may be exempt and aren't required to pay the tax penalty. That is, if the coverage costs more than 8.05 percent of consumers' income, they do not need to pay the fine.
4. Between 2013 and 2015, the average monthly health insurance premium for single coverage increased 45 percent to $286.
5. Some consumers are turning to short-term health insurance plans, which cost 62 percent less than major medical plans. Short-term health plans don't include preventive care and don't qualify under the ACA.