The Health Insurance Marketplace
Open enrollment to sign up for health insurance coverage for 2018 under the Affordable Care Act is currently open and continues through December 15, 2017. Those intending to enroll are encouraged to start the process early this year as the enrollment website will be off line every Sunday from 12:00am to 12:00pm and navigating the site may be more difficult than past years due to budget cuts. With these deadlines nearing, we share a quick guide from the HealthCare.gov website to help you learn more about enrollment, potential savings, picking a plan and more.
1. Open Enrollment for 2018 coverage is November 1, 2017 through December 15, 2017
- After December 15, you can enroll in 2018 health insurance only if you qualify for a Special Enrollment Period.
- 2018 coverage will begin on January 1, 2018, if the premium is paid.
2. What you pay for insurance depends on your income — and you’ll probably save
- Your savings depend on your expected household income for the year. Over 8 in 10 people who apply are eligible to save, and most can find plans for between $50 and $100 per month (after accounting for their premium tax credit).
- Get a quick idea if you’ll save. Based on your income estimate, we’ll tell you if you qualify for a health insurance plan with savings, Medicaid, or the Children’s Health Insurance Program (CHIP).
3. You can apply for coverage 4 ways
- Apply any way that works for you: Online, by phone, with in-person help, or with a paper application.
4. The Marketplace is for people without health coverage
- The Marketplace is primarily for people who don’t have health insurance through a job, Medicare, Medicaid, the Children’s Health Insurance Program (CHIP), or another source of qualifying coverage.
- If you have job-based insurance: You can buy a Marketplace plan, but you’ll pay full price unless your job-based insurance doesn’t meet certain standards. Most job-based plans do.
- If you have Medicare: You can’t switch to Marketplace insurance, use a Marketplace plan as a supplement, or buy a Marketplace dental plan. Learn about Medicare and the Marketplace.
5. If you don’t have health insurance, you may have to pay a fee
- Most people must have qualifying health coverage or pay a penalty.
- For 2017, the penalty is either: 2.5% of your household income or $695 per adult ($347.50 per child), whichever is higher. Learn about the fee.
- Some people qualify for an exemption from the health insurance requirement.
The above information and more can be found at www.HealthCare.gov.