AFFORDABLE HEALTHCARE ACT OPEN ENROLLMENT
PERIOD
November 1, 2015 – January 31, 2016
It’s that time again…
It’s the Annual Open Enrollment period for Individual
Medical Insurance. It is the time of
year when you can enroll into a Medical Insurance plan without having a
qualifying event. It last from Nov. 1 until Jan. 31. You cannot be refused coverage because of a
preexisting condition. Since Medical
insurance is mandatory it is the time of year when you can become a law abiding
citizen.
In
2016 the
penalty for not having Medical Insurance is $695 per adult and $347.50 per
child (up to $2,085 for a family) OR 2.5% of your income, whichever is more
So you can see that it will become expensive to not have
coverage and let’s face it you should have coverage, every second of everyday something could happen to you. With
medical insurance you’re basically putting money into a bucket when you don’t
need it so there is money it the bucket when you do. It is
expensive to be ill or injured, and it always happens when you don’t expect
it. But you’d be crazy if you expected
it, which it is why you need to be prepared,.
You probably know there are 2 venues used to get Medical Insurance, there is the Exchange, in Washington, we use WaHealthPlanFinder.org and there is direct using companies like Premera Blue Cross, Regence Blue Shield, Group Health, and others.
Now if your income is below 400% of the Federal Poverty
Level (FPL) then you should go thru the Exchange. You can receive a premium reduction that will
save you money. However, you may have heard that
the Exchange can be a challenge. So you
should call me. I can help you keep your hair. I know answers to your questions and
information about the plans. There is no
additional cost; you just get to keep your sanity.
Persons in family/household* Poverty
Guideline
(400%
FPL)
1 $ 47,080
2 $ 63,720
3 $ 80,360
4 $ 97,000
5 $113,640
6 $130,280
6 $130,280
7 $146,920
8 $160,360
If your income is more than 400% of the Federal Poverty
Level, you will not receive a premium reduction. For you I recommend enrolling direct, and the
best way to do that is ALLSTARFinancialInsurance.com. There you can get instant quotes, enroll
online, and more. You can also find information about Dental,
Vision or Life Insurance and it is easy to use.
If you are already enrolled direct, there is not much to do to renew your coverage. Unless
you want to change your plan or company, you will automatically be renewed.
But if you are on the Exchange, renewal is a little more
involved because you have to restate your income for 2016. So you need to log into WaHealthplanfinder.org
and click where it says Complete a New Application. Your application will already be filled out but
you need to go thru it and make changes as appropriate. When you submit you’re application your premium
reduction will be recalculated and you will be able to select the same plan or
a different plan.
I know this is a lot to take in, that’s why I’m here, to answer your questions and provide additional assistance. If you have friends, relatives or neighbors
that need help, please feel free to share my name or website.
One more thing, I also help small businesses. Give me a call if you are or know a business
that is looking for a better insurance plan.
I have some excellent choices a couple that will even refund premiums if
claims are low.
206-227-6677
