Your Guide To Getting Coverage

If you missed the deadline for open enrollment, you will have to get creative about how you secure coverage for the coming year. That is because according to the Affordable Care Act (ACA), you are only able to secure health insurance coverage during the open enrollment period. That period ended on February 15th. If you are one of the Americans who did not secure coverage during that time, you have a few options.

  • Option #1: Qualify For A Special Enrollment Period—If you encountered a major life change during the last open enrollment period, you may qualify for an extension. This special enrollment period is available to you if you moved states, got married, got divorced, had a baby, lost coverage through your workplace, or experienced another significant event. A special enrollment period can give you sixty extra days to secure marketplace coverage.
  • Option #2: Get Medicaid—If you qualify for Medicaid, the enrollment deadlines do not apply to you as there is no open enrollment period for Medicaid.
  • Option #3: Pay Your Dues & Get Short Term Coverage—If you do not qualify for special enrollment or Medicaid, your only recourse is to pay your tax penalty fee for not carrying coverage. In 2015, this is $325 ($162.50 for children) or 2 percent of your household income, whichever is greater. You can still secure health care coverage, but it will have to be a short term policy and will not protect you from facing these tax penalty fees.

If you would like expert guidance to help you navigate the changing face of health care in America, contact HR Solutions & Brokerage in Lakewood, Colorado. For the professional guidance you deserve, call us today.

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