Obamacare open enrollment ends this month. Here’s what you need to know if you haven’t signed up.

Don’t be caught off guard about the consequences of missing the deadline. After March 31, consumers looking to purchase plans through the marketplace won’t be able to do so until open enrollment begins again in October. If you miss the deadline, you can purchase insurance outside of the marketplace at any time – but be aware that you won’t receive any premium subsidies (think “discounts”), and you will likely be subject to a penalty for the time you were uninsured.

If you are without coverage come March 31, you may face a penalty on your 2014 tax return. The fine will be $95 per adult and $47.50 per child or 1 percent of your household income, whichever is greater. In 2015, that will increase to $325 per adult or 2 percent of income.