- Posted by Canopy
- On April 16, 2015
- 0 Comments
- ACA Special enrollment period, canopy, obamacare
After the first full year under the ACA (“Obamacare”), some people still do not have coverage. If you ask the uninsured why they don’t have coverage, you’ll get a number of reasons. Some point to cost, some say they don’t need it because they are healthy and yet others chose to be willfully blind to the law, thinking it would be repealed. Unfortunately when they get their taxes done they found out Obamacare is real and they are charging the uninsured up to 1% of their annual income for not having coverage in 2014. The second annual open enrollment is now over and in the year 2015 the penalty increase to 2% of annual household income or up to $975 per family, $325 per adult and $162.50 for each child under the age of 18 years, whichever is higher. Now what can you do?
Luckily for you, there is an ACA special enrollment period. If you did not have coverage during the year 2014 and had to pay a penalty on your taxes, you can enroll in a plan. This special enrollment period is from March 15th through April 30th. After April 30th, you will not be able to get individual healthcare without a life change event. Whether you enroll to avoid the penalties or the need to get health care coverage to protect your personal finances and have access to doctors and hospitals, it is not too late to enroll. You can follow the nearly 11.7 million consumers have already signed up for health insurance coverage. According to Health and Human Services, more than half (55%) paid monthly premiums of $100 or less after tax credits, totaling $1,200 a year or less for coverage. The key is getting help navigating the maze of plans on the government website, by using a licensed insurance professional. Don’t go it alone – get help! In the meantime, please download our Health Insurance Buyers Checklist!