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Your 2014 Cover Oregon Health Insurance Ends December 31st, 2014

Your 2014 Cover Oregon Health Insurance Ends December 31st, 2014

Yep, it does not matter when your health insurance  coverage started. If you bought a Cover Oregon plan in March of 2014 and it started April 1st 2014 it ends December 31st 2014. NO MORE HEALTH INSURANCE COVERAGE unless you re-enroll in a new plan. Don’t worry my staff is certified with the Federal government and we can help you with that.

November 15th Open EnrollmentImportant Health Insurance Dates in 2015

1. November 15th, 2014 is the first day you can review your plan choices and change plans for 2015. If you are getting a tax subsidy to help you pay for your health insurance you must re-enroll using the Federal Health Insurance Marketplace healthcare.gov.  Sandy, Patti, Susan and I are all certified and licensed with the Federal Marketplace we can help you sign up and shop for a new 2015 health insurance plan.

2. December 15th, 2014: You must have your enrollment form done and your plan choices made by December 15th, 2014 if you want your health insurance to start on January 1st, 2015.

3. December 31st, 2014: All 2014 Cover Oregon health insurance plans end. It does not matter when your coverage originally started. In order to keep your tax credits and coverage you must re-enroll using the Federal Marketplace.

4. January 1st, 2015: The earliest date your health insurance coverage can begin.

5. February 15th, 2015: The last day you can sign up for health insurance coverage using the Federal Marketplace healthcare.gov. After this date you can not enroll and get health insurance for the 2015 coverage year unless you qualify for a Special Enrollment Period.

What You Need To Know About Signing Up For Health Insurance in 2015

There are 15 health insurers in the state of Oregon that are participating in the health insurance Federal marketplace. That is good news for anyone looking to buy health insurance. However, having this much choice can seem a little over whelming.  In fact it might cause you to just stay with your current insurance company.

Don’t Be Lazy: I know it might seem easier to just renew your current coverage and not shop, but you really do need to review your options. Here is why?

  • Health insurance rates have either decreased or increased. You might be able to save money by changing plans.
  • You want to continue to see your doctor, use the same pharmacy, clinic, or hospital. Every health insurer re-negotiates their provider contracts annually. What does the mean to you? Your doctor, hospital, pharmacy, clinic, etc may no longer be in your health insurers network. You need to make sure your doctor is still in your plan every year.
  • Out of pocket costs may have changed. Co-pays for drugs, doctor visits, hospital stays, etc. may have changed. You want to know what to expect if you go to the doctor.

I want to reiterate no matter what course of action you take you must re-enroll with the Federal market place in order to continue to get your tax subsidy to help you pay your health insurance premium.

The fee in 2015

If you don’t have coverage in 2015, you’ll pay the higher of these two amounts:

  • 2% of your yearly household income. (Only the amount of income above the tax filing threshold, about $10,000 for an individual, is used to calculate the penalty.) The maximum penalty is the national average premium for a bronze plan.
  • $325 per person for the year ($162.50 per child under 18). The maximum penalty per family using this method is $975.

We Can Help Call Bancorp 800-452-6826 ask for Sandy, Susan, Patti, or Rex.  If you have any questions please do not hesitate to ask.

Have a great day

Rex Lesueur

 

 

 

 

 

 

 

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