What You Need to KnowAbout Healthcare Open Enrollment
Enrollment occurs on in the New York State of Health which is moderated by New York State. The enrollment period runs from November 15th to February 15th, although some life events may qualify an individual to enroll under Special Enrollment Periods.
When you fill out your application you will find out if you qualify for:
- Private health insurance plans
- Lower costs based on your household income and size
- Medicaid coverage
- The Children's Health Insurance Program
You can start your application by visiting https://nystateofhealth.ny.gov/ or feel free to call Melissa Lozano at 646-744-0995 if you would like further assistance. Once you have received your application results it will be time to analyze your options. Check out this extensive resource with tips on how to compare health plans.
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The Bottom Line
To help encourage the importance of enrolling in health insurance, there has also been a financial penalty put in place for those who are required to have health insurance.
This year the penalty for lack of health insurance is either 1% of your income, or $95 per adult ($47.50 per child), whichever is higher. Additionally, the penalty increases every year. In 2015 it’s 2% of income or $325 per person. In 2016 and later years it’s 2.5% of income or $695 per person. After that it's adjusted for inflation.
Don't let yourself get hit with these fees, and more importantly, don't ever let yourself go without insurance as there are much more drastic consequences that can occur! Health insurance is one of the most important things in managing anyone's wellbeing and as such it is worth putting in the time to make sure you are enrolled on time and have the right coverages.
Need a reminder? Download this flyer or print it out to help you save the date and stay on task!