You must obtain and maintain minimum essential coverage throughout the year, get an exemption, or face a tax penalty for each month you go without coverage. In the individual and family market major medical coverage that counts as minimum essential coverage can only be purchased during open enrollment. Open enrollment for 2015 is Nov 15, 2014 through Feb 15, 2014.
In most cases if you already have health insurance you like, you can keep it (although some plans are being phased out by 2017, see grandfathered health plans). For many low to middle income Americans, insurance is more affordable due to cost assistance and Medicaid Expansion. However, those making above 400% of the federal poverty line may find themselves paying more for coverage and may want to see private health plan options out-side of the marketplace. Regardless of what you pay we all enjoy the new benefits, rights, and protections offered by Obamacare.
To comply with the law for 2014 you needed to get coverage that started by May 1st, 2014 to avoid the fee. Open enrollment for 2015 starts November 15th, 2014 and ends February 15th, 2014.
If you miss the annual open enrollment period, you may still have options. Individuals may qualify for special enrollment period outside of open enrollment if they experience certain qualifying life events. Learn what to do if you missed the ObamaCare deadline.
In most cases if you already have health insurance you like, you can keep it (although some plans are being phased out by 2017, see grandfathered health plans). For many low to middle income Americans, insurance is more affordable due to cost assistance and Medicaid Expansion. However, those making above 400% of the federal poverty line may find themselves paying more for coverage and may want to see private health plan options out-side of the marketplace. Regardless of what you pay we all enjoy the new benefits, rights, and protections offered by Obamacare.
Open Enrollment Under the Affordable Care Act
Under the Affordable Care Act most private insurance must be obtained during the marketplaces annual open enrollment period. Open enrollment periods protect insurers from folks simply waiting until they get sick to be covered and helps enforce the mandate and keep premium costs down. You won’t be able to get most types of private coverage outside of open enrollment without qualifying for a special enrollment period. Other insurance types like Medicaid and CHIP (which is 365) have unique open enrollment periods.To comply with the law for 2014 you needed to get coverage that started by May 1st, 2014 to avoid the fee. Open enrollment for 2015 starts November 15th, 2014 and ends February 15th, 2014.
If you miss the annual open enrollment period, you may still have options. Individuals may qualify for special enrollment period outside of open enrollment if they experience certain qualifying life events. Learn what to do if you missed the ObamaCare deadline.