Tag Archives: 2015

No health insurance fee

2016 Penalty fee for not having health insurance

Each year you go without coverage, the fees get higher.  The 2016 penalty fee for no health insurance is more than 2015 and 2014 was.  If you don’t have coverage in 2016, you’ll pay the higher of these two amounts:

  • 2.5% of your yearly household income

OR

  • $695 per person ($347.50 per child under 18)
  • In future years, the fee is adjusted for inflation.

How you pay the fee

You’ll pay the fee on the federal income tax return you file for the year you don’t have coverage. Most people will file their 2015 returns in early 2016.

The fees for 2014 and 2015

2015 Texas healthcare open enrollment dates

Texas Healthcare Open Enrollment Dates

Texas are you ready?  It is almost that time of year again, the healthcare Open Enrollment period.  Since the Affordable Health Care Act (ACA) was passed, how you buy health insurance has changed and got lot of people confused.  The open enrollment period for the health insurance is the only time when you can apply for a new policy.  Because of this small window, we have provided some key dates so you don’t miss out on these important deadlines.

Texas Healthcare Open Enrollment 4 Key Dates:

November 15, 2014 — Open Enrollment begins.

You can apply for a new plan at this time, keep your old plan or change your coverage.

December 15, 2014 — Enroll by the 15th for January 1 coverage.

If you want new coverage that begins on January 1, 2015, you have until December 15th to make your choice.  If your plan is changing or you want to change plans, enroll by the 15th to avoid a lapse in coverage.

December 31, 2014 — Coverage ends for 2014 plans.

If you didn’t enroll by December 31st, you can still enroll up until February 15th, however your coverage may not start on January 1st.

February 15, 2015 — Last day to apply for 2015 coverage

If you do not apply by February 15, 2015 — before end of Open Enrollment, you won’t have another opportunity to enroll in an ACA plan unless you qualify for a special enrollment period.  This may result in penalties.

DON’T FORGET:

You do  have to apply during the healthcare open enrollment but you DO NOT have to apply on the marketplace or at healthcare.gov.  You CAN use an agent/agency to help you with the process and it doesn’t cost any extra to get advice from an agent.

You can always call us at 877-740-8683.

We are PPACA certified and premier agents with BCBS, Humana, Cigna, Aetna, Assurant, UHC, and many others.  We are also licensed in 28 states.

Plan Renewal Special Enrollment Period

While the Open Enrollment for Health Insurance has ended for 2014, there are still situations where an person can qualify for a Special Enrollment Period. If you have an Individual Health Insurance Policy that has a non-calendar year Renewal this year, you may qualify for a Special Enrollment Period, or SEP. This could occur if you have a Grandfathered or non-Grandfathered transitional policy. If you receive a renewal notice from your Insurer, please give us a call at 877-740-8683, to discuss your options and find out if it is in your best interest to shop for a new policy. This SEP is in addition to the COBRA Special Enrollment Period , relating to Group Health Insurance, that will last until July 1st. There are also the regular Qualifying Life Events that will trigger an SEP. The Qualifying Life Events, or QLE’s, can include such things as gaining a dependent, through birth, marriage or adoption. If you lose Minimum Essential Coverage, through no fault of your own, this can also qualify for an SEP. This could result from a loss of a job, reduction in hours, divorce, or a permanent move. There are complex deadlines surrounding the triggering events. While most SEP’s have a 60 day day window, there are some with only 30 days. If you thing you might qualify for an SEP, please call 877-740-8683, or visit www.healthreformenrollmentcenter.com , to speak to a licensed Insurance Agent for a person evaluation of your situation. If you can’t qualify for an SEP, there are still options available for Short Term Insurance, and the 2015 Open Enrollment will start November 15th.

Health Insurance Deadline in Texas

We wanted to remind everyone that the last date to purchase Health Insurance for 2014 will be March 31st. After that date, the Open Enrollment will be closed for the rest of the year. A lot of people are under the impression that the deadline only applies to Marteplace, or Exchange, Plans, but the deadline will apply to all Individual Health Insurance. After March 31st, the only Plans that will be available from any carrier will be Short Term Plans. Short Term Plans do not cover pre-existing conditions, are not Guaranteed Issue, and do not qualify as Minimum Essential Coverage. So, if someone is covered by a Short Term Plan, they will still be subject to the Tax Penalty this year. If you or someone you know needs Health Insurance, please call 877-740-8683, as soon as possible, to explore your options. Even if you have a current plan, you will not be able to change to a new plan after the deadline.  So if you think you think you may want to change plans before 2015, please visit www.freedomfreequote.com , to request a personalized quote. Don’t get caught without Health Insurance, or get stuck in a plan you aren’t happy with. You may even qualify for a subsidy to help with costs. You can also visit www.healthreformenrollmentcenter.com for additional resources.

Employer Mandate Delayed in Health Care Reform

The Obama administration announced late today that they are delaying the Employer Mandate until 2015. The reason stated was due to reporting requirements. As we have known all along, there were going to be changes and tweaks in implementing the Affordable Care Act. This could be a significant change. Since employers are not required to report, they will also not be responsible for the shared responsibility payments. While the Treasury Department “strongly encourages” employers to maintain or expand Group coverage, they will not be required to do so until 2015. This could drive more uninsured into the Individual Health Insurance market. If the Individual Mandate were delayed, but other aspects of Health Care Reform were not, such as Guaranteed Issue, this could have serious consequences. We have recently seen both United Health Care and Aetna withdraw from the California Individual market. No matter where you stand on Health Care Reform, with change, there are consequences. This reminds me of one of the earliest “unintended consequences” of Reform. When children could no longer be denied Health Insurance due to pre-existing conditions, many Insurance Companies were forced to either stop offering Child Only policies, or make a limited plan selection available during a limited Open Enrollment. There are more rules and regulations being released on almost a weekly basis at this point. To stay informed, be sure to visit www.freedomfreequote.com