There is a ton of misinformation out there about the Affordable Care Act and the OPEN ENROLLMENT for the NEW HEALTH INSURANCE PLANS. And I don't blame you guys there hasn't been much mass information being distributed to help with keeping informed and up to date. I have been doing workshops specifically on this subject since the law passed in 2010. But there's still so much more work to be done to educate the community about their options under the new law. I will try to be brief and break it down to you as simple as possible:
1. As of January 1st 2014 it will be the LAW to carry Health insurance, if you don't have any a penalty may apply to you when you file taxes (there are exceptions such as hardship etc.)
2. The penalty will be based on your income... $95 OR 1% of your income whichever is greater. Again whichever is GREATER
3. Covered California will open enrollment on October 1, 2013 (with coverage beginning January 1, 2014) to meet the March 31, 2014 deadline for Californians to obtain insurance or face IRS penalties for the 2014 tax year. For individuals who do not enroll during this period, they will have to wait until October 1, 2014 to purchase coverage
4. NO you cannot outsmart the system and try to get insurance coverage once an illness has occurred. Let me repeat that again...since I have heard many people say this including Licensed insurance agents that are misinformed in this very important aspect of the law- whether you purchase health insurance through Covered California meaning the exchange or outside the exchange and get your own private health insurance plan you CANNOT enroll whenever you want to!! As of tomorrow there will be ONE ANNUAL OPEN ENROLLMENT PERIOD which this year will run from Oct. 1st 2013 until March 31st 2014- going forward it will be from Oct. 1st through Dec. 7th.
5. You must purchase health insurance during this open-enrollment period in order to obtain coverage in 2014. If you do not enroll during this period, you will not be assured a health plan will cover you – either through Covered California or in the private market. If you have a life-changing event such as the loss of a job, death of a spouse or birth of a child, you are eligible for special enrollment within 60 days of the event. The next open-enrollment period begins in October 2014 for coverage in 2015.
I hope this helps ease up some of the confusion....please read the next post above in regards to who is Covered California and what plans are offered there..
First Link Insurance Agency
9220 Haven Ave Suite 110
Rancho Cucamonga Ca 91730
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