December is coming to a close, which also means that the open enrollment period for marketplace and private healthcare plans is ending in just a few weeks!
So in order to make open enrollment a little bit easier, here are a few things you need to know:
Do I need to have health insurance?
Yes! Health insurance is now required by the government, so you must be enrolled in a state or private plan if the following applies to you:
- You are over 26 and are no longer on your parent’s plan.
- You are not receiving health insurance through your employer or your spouse’s employer.
- You do not have coverage through a government plan like Medicaid or Medicare
The penalty for not having health insurance is 2.5% of your income or $695 per adult and up to $347.50 per child. These numbers may go up in the future to adjust for inflation.
When are deadlines for 2017 health insurance?
- Sign up by January 15th for your coverage to start February 1st
- Sign up by January 31st for your coverage to start March 1st
Please note that these deadlines only apply for private health insurance plans and state health insurance plans. If you purchased health insurance through your employer, then the enrollment periods may be different.
What if I’m already enrolled in another plan?
Whether you just enrolled in a new plan or your plan automatically renewed, you are able to change your plan during open enrollment with no penalties. If you wait until after open enrollment is closed, then you may have to pay a penalty or you may not be able to sign up for coverage until next year.
Is open enrollment the only time that I can sign up for health insurance?
Open enrollment is the only time that you can sign up for health insurance without having to pay a penalty, unless there are special circumstances:
- Birth or adoption of a child
- Loss of your job or getting your hours cut to make you ineligible for your current employee health care plan
- Divorce or death of a spouse
Does open enrollment apply to other types of insurance?
No! Open enrollment only applies to health insurance; however, it is not a bad idea to talk to our agents about your other insurance plans so we can make sure that you have a comprehensive plan that works best for your family and your budget.
Have questions about your health insurance? Talk to our Glendale insurance experts!
Having health care insurance is incredibly important, but it also can be incredibly expensive. This is why you need to make sure that you are getting the best coverage for the best price.
Our agents can talk to you about the different plan options and what is right for you and your family. We have access to a wide range of providers and plans so we can be sure to find the best health insurance plan for you. Make sure to talk to us before open enrollment has expired!