The last chance for some Americans to get health coverage for 2015 will come in a Special Enrollment Period that begins Sunday, March 15 and runs through April 30.
The SEP is for those who did not have healthcare last year and are now realizing that they will be fined if they don’t have it this year. While last year’s fine was $95 per adult and $47.50 per child or 1 percent of the gross household income, this year’s fine will more than double.
Adults will be fined a minimum of $325 and $167.50 per child or 2 percent of the gross adjusted annual income – whichever is greater.
Many who chose to accept the fine this year are thinking twice about 2015, with the fine increasing. It increases even more for 2016.
The approach is similar to fines for not having auto insurance, which is even more in Nevada than the fine for not having healthcare. The thought is the same. Uninsured individuals drive up the cost for those who have health insurance.
The number of uninsured in Nevada has declined significantly since the Affordable Care Act went into effect with as many as 72,000 now signed up for healthcare in the state.
The Special Enrollment Period will be in effect on both the Nevada Health Link and Covered California. Also, some companies – such as Aetna – have announced that they will accept policies for those whose income does not make them eligible for a subsidy on the Federal Marketplace.
Affordable Healthcare Pros, based in Carson City at 2307 N. Carson St., can help individuals on and off the exchange. We also help those with Qualifying Life Events, such as loss of creditable coverage and other factors such as change in income, those who move in or out of state or have a change in family situation due to divorce, marriage, birth or death.
Calls us at 775-450-6769, 775-450-6867, 775-450-7754 or call me personally at 775-224-7169, if you need help.
Ron Bliss is a former sports writer who has been selling health insurance the last five years. He is certified both on the Nevada Health Link and for Covered California.