Many of the new rules will go into effect in 2016 and ignorance is starting to get expensive! Some important dates include:
PROBLEM:
Penalties are the greater of 2.5% of household income or $695/person!
- 11/1/2015: Open enrollment starts through the marketplace exchange for a 1/1/2016 start date.
- 12/15/2015: Last day to enroll for a 1/1/2016 start date.
- 1/15/2016: Last day to enroll for a 2/1/2016 start date.
- 1/31/2016: Last day to enroll for a 3/1/2016 start date and avoid paying a penalty. The last date to enroll for coverage until 2017 unless one qualifies for the SEP (special enrollment period).
The SEP only comes into play if there’s a change in life or a change in status like getting married or losing coverage etc.
SOLUTION: Contact us at 917-359-3985 or on our contact sheet. We can clear up confusion and have access to non-traditional boutique plans that don’t have these deadlines and are priced reasonably.