Open Enrollment Coming to a Close

The Open Enrollment period for health insurance ends on January 31, and unless you have a special qualifying life event, you won’t be able to make changes to your health insurance policy (or enroll in a new plan) until Open Enrollment begins again this fall.

If you obtained health insurance through Covered California in 2015, you need to make sure that your information is up to date.  Doing this will ensure that your subsidy, if you receive one, is calculated correctly. You should also compare various plans as you might be able to find a policy that better suits your needs and budget this year.

If you don’t already have health insurance, you have just a few more days to enroll. You probably know that going without health insurance puts you at risk of a major financial disaster if you have a serious illness or accident, but in addition, the IRS will be dishing out financial penalties for anyone without healthcare coverage.  The penalty for failing to maintain health insurance coverage during 2016 will be 695 dollars per uninsured person in your household OR 2.5 percent of your taxable income, whichever is more.  This could add up quickly for some families.

We understand that comparing plans and enrolling online may seem difficult or time-consuming.  We’re here to help!  Amante and Associates provides free assistance for families, individuals, and business owners who need to make important health insurance decisions.  We’ll explain plans, coverages, deductibles, co-pays, and all other aspects of your policy so that you can get a policy that fully meets your needs.  This is NOT a decision that you need to make without proper guidance and you do not need to tackle it on your own.

We are certified to help you not only with plans offered through Covered California and the health care exchanges, but also with plans that are available in the open market.  We’ll help you to evaluate all options.

For most people, Open Enrollment is the only opportunity to enroll in a health insurance plan, or make changes to their current coverage. Some exceptions do exist, including:

  • Birth or adoption of a new child, or taking a child into foster care
  • Loss of health insurance coverage (for example, if you lose your job)
  • Significant changes in income, which make you newly eligible or ineligible for a subsidy or Medicaid
  • Turning 26 years old (you must leave your parents’ plan and enroll in your own)
  • A new marriage or domestic partnership
  • You are a member of an Alaskan Native or American Indian tribe, recognized by the federal government
  • You experience another extreme situation which warrants a special enrollment period (these cases are decided on an individual basis by Covered California, and are rare exceptions to the rule)

If you don’t experience one of the above qualifying events, you won’t be able to enroll in a health insurance plan until Open Enrollment begins in the fall.

Give us a call today and address your health insurance needs before Open Enrollment ends on January 31, 2016.

Filed under: Health Insurance