Have You Already Signed Up For Health Insurance?

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Open Enrollment Basics

If you have not already signed up for health insurance for 2015 through open enrollment, there is still time. Open enrollment does not end until February 15th, so you have a little less than a month to sign up for the right amount of coverage.

Using the health insurance marketplace is the best and easiest way to enroll in the right health insurance policy for your needs. When you sign up for health insurance through the marketplace, you will be able to find out if you qualify for:

  • Savings based on your income – typically, most people who apply for premium tax credits to help lower the overall cost of their coverage will qualify for them. All health insurance plans that are available through the marketplace provide coverage for pre-existing conditions, essential health benefits, and preventative care.
  • Children’s Health Insurance Program (CHIP) and Medicaid – Medicaid and CHIP provide low cost or free health insurance coverage to families who have a limited income. There are no deadlines to apply for CHIP or Medicaid and you can apply at any time throughout the year.

If you do not sign up for health insurance before the February 15th deadline, you will not have any coverage for the entire year and will have to face heavy fines. The penalty for not having health insurance in 2015 is $325 per adult and $162.50 per child in your household or 2 percent of your total income whichever amount is higher. The only way that you can sign up for health care outside of the open enrollment period is if you have a qualifying life event, such as getting married or moving to a different state.

Contact the insurance experts at Prutting Insurance Group in Scottsdale, Arizona for all of your health insurance needs. As an independent insurance company, we will work with you to ensure that you have the right amount of protection, all at the right price.