There is a lot of talk right now about healthcare coverage. With last year’s implementation of the Affordable Care Act, most of us know that all Americans are now required to have health insurance, except for some minor exemptions.
However, so many questions remain in the minds of many individuals. Most recently, we’ve heard questions about the upcoming deadlines and what they really mean.
One of the changes that came with the Affordable Care Act was an established open enrollment period for all private health insurance plans. This means that each year there is a specific time period when you and your family can get individual health insurance or make changes to a current plan. This doesn’t apply to group plans through your work, as group plans will have their own policies regarding enrollment and changes.
This year’s “Open Enrollment” period runs from November 15, 2014 – February 15, 2015. If you enrolled in a new plan or renewed your current plan by December 15, 2014, then your coverage will be effective starting January 1, 2015. If you missed this deadline, you still have options.
Here’s how it works. If you enroll or renew your plan by:
- December 16 – January 15, your coverage begins on February 1, 2015.
- January 16 – February 15, your coverage begins on March 1, 2015.
What If I Don’t Get Insurance?
Not having health insurance can be a dangerous gamble both with your health and your bank account. The penalties for not acquiring coverage for 2015 will increase this year to $325 or 2% of your income per adult in the household. Lesser charges apply for children under the age of 18, but these costs will quickly add up.
We can help you choose a health plan that is right for you and your family. Let us guide you through the process, answer all of your questions and find coverage that fits with your budget and your needs.
You can complete our contact form or call us directly at (800) 524-6390 for more information.