Tuesday, March 3, 2015

Open Enrollment is over...what's next?

The Health Insurance Exchange open enrollment has ended but there are still ways to get coverage if you qualify.

First, you need to know if you qualify for a special enrollment period. You could qualify if you've had a life change like, marriage, had a baby, moving outside of your plan's coverage area, or you've lost other coverage.

Medicaid and CHIP does not have a set enrollment period. If you qualify, you can get coverage immediately, any time of year.

In some areas, insurance companies sell private insurance plans outside of open enrollment. These plans should meet minimum essential coverage and other requirements by law. If you have one of these plans, you would not be subject to the penalty for not having health coverage. If you buy a plan outside of the marketplace you would not be eligible for premium tax credits or any other savings.

Don't forget, if you choose to forgo coverage, you will be subject to penalties and fees for not having coverage. In 2015, you'll pay a penalty of either 2% of your income or $325 per adult, whichever is more.

If you are looking for coverage outside of the exchange, contact us and we can help!

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