Those who get covered before the Sunday deadline will have insurance coverage beginning Tuesday, March 1.
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This year, the penalty for skippingthe ACA mandate to have insurance is $695 per adult and $347.50 per child under age 18 – or 2.5 percent of annual income, whichever is higher.
People do not need to worry about signing up under the Marketplace if they have Medicare Part A or Part C, Medicaid, Florida KidCare, any job-based plan, individual health plan, COBRA retiree coverage, TRICARE, VA health coverage or some other kinds of coverage, according to a fact sheet from HHS.
“Although the health insurance exchanges are still in their early stages, it’s clear they are here to stay”, said Darrin Silveria, Chief Sales Office of Freeway Insurance. “Our experienced and trained navigators are available up to the last minute to help anyone in our region get access to a plan that meets their healthcare needs and their budget”.
Outside of a few special enrollment circumstances (e.g. a period for residents from nations under the Compact of Free Association, which include the Federated States of Micronesia, the Republic of the Marshall Islands and the Republic of Palau), individuals who miss Sunday’s deadline will be unable to get health insurance through the marketplace until January 1, 2017. Eight out of ten people who sign up for coverage at HealthCare.gov qualify for financial help to lower the cost of their monthly premiums. Freeway offers a wide range of plans, from the most basic to premium plans in auto, health, truck, commercial vehicle, fire, flood, homeowners, renters, small commercial, motorcycle, recreational vehicles and watercraft, life, and AD&D insurance products. “The Kaiser Family Foundation did some polling and found that the number who knew about the tax penalty was still in the single digits”.
Since insurance companies were also collecting the money this year, people signing up for health insurance seemed to have less trouble signing up.
Oscar insurance products strive to be more transparent and simple in their cost structure, eliminating things like co-pays and co-insurance, Schlosser said.
“The clock is ticking with just four days left before January 31, the final enrollment deadline for 2016 health coverage”, said Secretary for Health and Human Services, Sylvia Burwell.
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Take advantage of this opportunity to protect your family’s health and financial security. If you would like in-person assistance with shopping, you can find a registered navigator or licensed insurance agent.
