- Posted by Canopy KC
- On November 8, 2017
- 0 Comments
Health insurance continues to be a hot topic in today’s headlines and while it appears that any major changes are a long time coming, there are a few dates and deadlines that have changed.
2018 Open Enrollment for Health Insurance Coverage:
Dates and Deadlines
**The dates and deadlines for open enrollment have changed**
BEGINS: November 1st 2017
ENDS: December 15th 2017
Coverage will begin on January 1, 2018
The time period to enroll, renew or make changes to your health insurance coverage. You can also choose a new health insurance plan through private insurance or through the Marketplace in your state. 2018 open enrollment dates and deadlines may differ if you are buying health insurance coverage through your workplace or your employer or if you have experienced a “qualifying life event,” such as marriage, birth, adoption or a change in employment.
What Hasn’t Changed:
- Every person is required to have health insurance coverage.
- If you are over the age of 26, you can no longer be on your parent’s health insurance plan.
- You will face a standardized tax penalty of 2.5% of your annual income per adult or $695, whichever is greater and $347.50 per child without coverage.
- You may quality for tax credits or financial assistance to help you pay for health insurance through the Marketplace.
- If you miss the open enrollment deadline through the Health Insurance Marketplace, you may have to wait an additional year to apply or you may be able to obtain a limited short term insurance plan. Short term plans have modified benefits including prescription drug coverage, hospital stays, and limited covered providers. You will also still be responsible to pay the federally mandated tax penalty.
It is important to not delay completing any open enrollment changes to your individual, family or Marketplace health insurance coverage. While the 2018 open enrollment dates and deadlines have changed, We have not. At Canopy, we are here to help you stay on top of dates and deadlines to stay covered, change coverage, or become covered.