It’s That Time of Year – Open Enrollment for Marketplace Health Coverage

Did you know that Open Enrollment for 2015 coverage through the Healthcare Marketplace runs from Nov. 15, 2014 to Feb. 15, 2015?

Keep in mind, if you don’t enroll in coverage by Feb. 15, 2015, you won’t’ be able to do so until the next Open Enrollment period the following year. And, if you don’t have health coverage during 2015, you may have to pay a fee. The fee in 2015 is higher than it was in 2014. It will be 2% of your income or $325 per adult and $162.50 per child, whichever is more.

If you’re already enrolled in a 2014 Marketplace plan, your benefit year ends December 31, 2014. This is the time if you want to

  • renew your current health plan or
  • choose a new health plan through the Marketplace during the open enrollment period.

And, this year, more insurance companies have more plans from which you can choose.  If you find these plans confusing, give us a call and we can help you sort through your options.

Keep in Mind

During Open Enrollment, if you enroll:

  • Between the 1st and 15th days of the month, your coverage starts the first day of the next month.
  • Between the 16th and the last day of the month, your coverage starts the first day of the second following month. So if you enroll on January 16, your coverage starts on March 1.

You may buy Marketplace insurance outside Open Enrollment only if you qualify for a Special Enrollment Period due to a qualifying life event such as marriage, birth or adoption of a child, or loss of other health coverage. Learn more about how you qualify for a Special Enrollment Period (link to https://www.healthcare.gov/coverage-outside-open-enrollment/special-enrollment-period/).

If you still have questions after reviewing www.healthcare.gov, give us a call and let us help you get the answers you need before making your insurance decisions.