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The Obama Administration announced on February 27th, that they would be extending the health insurance sign up period for 2015 policies. This announcement is targeted to the following persons:
- A person cannot be currently enrolled in a market place health insurance plan.
- A person must have already filed and paid their 2014 penalty fee for non-compliance of the law on their 2014 tax return.
- A person must attest to not knowing the open enrollment dates for health insurance and the necessity of getting health insurance for 2015.
The extra enrollment period will go from March 15th to April 30th. The purpose of this enrollment period is to give persons who have not applied for health insurance and owe a fee on their 2014 returns extra time to enroll to avoid a fine on their 2015 filings. The 2015 fine will be $325/adult and $165/child not to exceed $925/family or 2% of their family income, whichever is greater based on them having insurance 9 of 12 months during the year. As an example, if one has health insurance 8 of 12 months during the year, the fine will be applied to four months of non coverage. If one does not have insurance for 9 of 12 months during the year, that person will not be charged a fine. At the same time, persons are allowed to get health insurance throughout the year if they have “Life Qualifying Events”. Some of these events include:
- A persons is no longer eligible as a dependent under their prior health insurance due to reaching the maximum age, legal separation, divorce or death of the policy holder.
- A person is no longer residing or living in their prior health insurance plan’s HMO service area.
- A person has gained a dependent due to marriage.
- A person has adequately demonstrated that their previous health plan or issuer substantially violated a material provision of its contract to them.
To receive a full list of “Life Qualifying Events”, go to http://insurance4dallas.com/obamacare-texas/
There is still good news for people who have missed the signup date, do not qualify for an extension and need health insurance. They may qualify for a short term or temporary policy that will cover them for the balance of the year until the next sign up period running from October 1st to December 15th. Short Term or Temporary Policies are good for catastrophic events with no preexisting conditions. Unlike ACA plans, preexisting conditions matter with Temporary Plans along with having lifetime limitations values on coverage.
Insurance4Dallas, (I4D) helps insure all of Texas and provides consumers with detailed information and the ability to apply for insurance online. I4D provides a full spectrum of health, dental, vision, life and other ancillary insurance products providing a diverse selection of price and benefit options complemented by personable customer service. Available via phone, email or fax, Insurance4Dallas answers consumer questions throughout the purchasing process and utilization of the health insurance policy.
Release ID: 76365