The Special Enrollment Period the federal Marketplace granted for those individuals who did not meet the February 15th deadline for Open Enrollment is ending April 30th.  This could be your last chance to enroll in a health insurance policy until January, 2016.  This Special Enrollment Period is not for everyone, but if it applies to you, you could have one last opportunity to get insured.

In an effort to enroll as many Americans as possible, the federal government installed this Special Enrollment Period for people who meet the following three criteria:  1) you were not insured in 2014; 2) you had to pay a tax penalty when you filed your 2014 taxes; 3) you will attest to the fact that you were unaware of the tax penalty or did not fully understand the implications of that penalty.  If these criteria apply to you, you have 6 more days to complete an application for health insurance with the federal Marketplace.  Keep in mind, your application must be completed and submitted by midnight April 30th, meaning you have selected a health plan and your application has been sent to Blue Cross Blue Shield of NC.  Depending on your effective date, however, you may still have a period of time before you will need to make your first premium payment.

Once this Special Enrollment Period ends, your opportunity to enroll in health insurance becomes much more limited.  Under the rules of the Affordable Care Act, for the remainder of 2015 you will need to have a Qualifying Life Event in order to purchase health insurance.  If you do not have a Qualifying Life Event, you will have to wait until Open Enrollment 2016 begins in November and you will not have health coverage until January 2016.  Also, don’t forget that the tax penalty, sometimes called the “individual mandate,” for being uninsured is increasing in 2015 and instead of paying $95 per person or 1% of your household income (whichever is greater), next year you will pay $325 per person or 2% of your household income (whichever is greater).  The tax penalty will increase again for 2016.

The bottom line is it doesn’t pay to be uninsured.  Not only are you running the risk of incurring potentially devastating health care bills, you are also not able to maintain your health and wellness through regular preventive care physicals and health maintenance.  If you are one of the many Americans who are still able to enroll in health coverage under the Special Enrollment Period ending April 30th, take advantage of this opportunity to get insured!  Instead of throwing money away on tax penalties, make an investment in your wellness and peace of mind.  Blue Cross Blue Shield of North Carolina is pleased to provide the residents of NC with quality health coverage at a competitive price.  Don’t wait another minute!

For more information on Blue Cross Blue Shield of North Carolina health insurance coverage, the Marketplace and healthcare gov  to apply for your subsidy, please visit our website at www.nchealthplans.com or call our toll free number 888-765-5400 and speak with one of our experienced and professional agents.  Let us help you navigate through the Health Care Reform changes in accordance with the new regulations of The Affordable Care Act, also known as Obama care.

For individuals and families who did not have health coverage in 2014 and are subject to the tax penalty when they file 2014 taxes, a special enrollment period (SEP) has been announced.  This SEP has been created for those individuals who were unaware of the tax penalty or failed to fully understand the implications of the penalty for not enrolling in coverage during 2014.  From March 15th to April 30th, CMS is providing consumers with another opportunity to purchase health insurance; however, if consumers do not purchase during this enrollment period, they may have to pay the penalty when they file their 2015 income taxes.

The special enrollment period will begin on March 15, 2015 and will end at midnight Eastern Standard Time on April 30, 2015.  If a consumer enrolls in coverage before the 15th of April, coverage will begin on May 1st and if a consumer enrolls between April 16th and April 30th, coverage will begin on June 1st.

Because this year’s tax season is the first time individuals and families are required to provide information about their health coverage on their tax returns, CMS recognizes that there may be an adjustment period.  Administrator Marilyn Tavenner stated regarding this special enrollment period, “Our priority is to… provide those who were not aware or did not understand the requirement with an opportunity to enroll in affordable health coverage this year.” Further, those who could not afford coverage or met other certain conditions may be eligible to receive an exemption from the tax penalty.

The majority of taxpayers will only be required to indicate on their tax return that they had health coverage in 2014, either through an employer, Medicare, Medicaid, or other health coverage that meets the requirements of minimal essential coverage.  Other taxpayers will be granted an exemption from the tax penalty and still other taxpayers will pay a penalty for choosing to remain uninsured.  Americans who do not qualify for an exemption and who are required to pay the penalty will be paying a fine of $95 per adult or 1% of their income, whichever is greater.  This special enrollment period is designed to allow such individuals one final opportunity to get coverage and avoid having to pay other penalties in 2015.

Those eligible for this special enrollment period must meet ALL of the following requirements:

• Live in states with a Federally-facilitated Marketplace
• Attest that when they filed their 2014 tax return they paid the tax penalty for not having coverage
• Attest that they first became aware of, or understood the implications of, the Federal Tax Penalty after the end of Open Enrollment

For more information on Blue Cross Blue Shield of North Carolina health insurance coverage, the Marketplace and healthcare gov  to apply for your subsidy, please visit our website at www.nchealthplans.com or call our toll free number 888-765-5400 and speak with one of our experienced and professional agents.  Let us help you navigate through the Health Care Reform changes in accordance with the new regulations of The Affordable Care Act, also known as Obama care.

All information contained herein is subject to change, from time to time, if the Federal Government or Blue Cross Blue Shield of North Carolina implement any new updates and/or changes that can impact information provided in this blog.

Open Enrollment 2018 has officially ended and the Special Enrollment Period has begun.  Contrary to what so many people believe, this does not mean that no Americans are able to purchase health insurance.  It simply means that those purchasing or making changes to existing health insurance plans are subject to a different set of rules that apply to the Special Enrollment Period.

The most distinguishing factor of Special Enrollment is that in order to purchase or change a health insurance plan you must have what is called a Qualifying Life Event.  This means you must have a special circumstance in your life that would qualify you to purchase or change insurance outside of Open Enrollment.  People often experience Qualifying Life Events without even realizing the opportunities presented as it relates to health insurance.

The following is a list of common Qualifying Life Events:

• Loss of minimum coverage (through an employer, government plans, Medicaid, etc.)
• Adding a dependent through birth, adoption or marriage
• Gaining United States citizenship
• Enrollment/non-enrollment errors by the federal Marketplace or the United States Department of Health and Human Services
• Newly eligible for a subsidy or a change in the amount of subsidy for which you are eligible
• Move to North Carolina or a new county within North Carolina
• Other exceptional circumstances

Although this is a list of a few qualifying life events, this list is not exhaustive.  Ultimately, the only way to really determine if you are eligible to change or purchase health insurance during Special Enrollment is to complete an application.  Keep in mind that you can apply for health insurance without any obligation to purchase and the application itself will help you determine subsidy eligibility.

For more information on Blue Cross Blue Shield of North Carolina health insurance coverage, please visit our website at www.nchealthplans.com or call our toll free number 888-765-5400 and speak with one of our experienced and professional agents.  Let us help you navigate through the Health Care Reform changes in accordance with the existing regulations of The Affordable Care Act, also known as Obama care.

All information contained herein is subject to change, from time to time, if the Federal Government or Blue Cross Blue Shield of North Carolina implement any new updates and/or changes that can impact information provided in this blog.