The health care coverage you choose is one of the most important decisions you will ever make, making the Affordable Care Act’s (ACA) open enrollment period important for those who are uninsured.
And since you won’t be able to buy ACA coverage for 2018 on your state’s health care marketplace until late 2017, you should be ensuring you are purchasing your healthcare plan immediately. The window on enrollment for ACA health insurance plans is closing fast, on January 31st, 2017.
Avoid Facing The Penalty
If you don’t have sufficient health coverage, you may find yourself facing fines for being uninsured, which can be significant, with the penalty for 2017 remaining at 2.5% of the total household adjusted gross income.
However, the flat fees, which are currently $695 for adults and $347.50 per child, capped at $2,085 per family, will be adjusted for inflation next year.
Do You Qualify For Special Circumstances?
There is are special circumstances in which you are still able to obtain health insurance. If you experience a special circumstance, such as a job loss or a divorce, you may qualify for coverage of up to 60 days after. And if you have children, you may enroll in the Children’s Health Insurance Program or Medicaid at any time.
Tips For Choosing A Plan
You will want a plan with the lowest copays, deductibles and coinsurance, if possible. However, it is important that you review each plan carefully, paying particular attention to the insurer’s available medical providers, making sure your physician is covered.
If you need help exploring your health insurance options, contact Brazelton Insurance Group today!