10 Dec Your Health Insurance Has Deadlines!
Want your health insurance to start January 1st 2016 then you need to signup for coverage no later then Tuesday December 15th. Yes open enrollment goes through the end of January 2016. But if you delay your coverage period will also be delayed. Here how it works
Sign up for health insurance by December 15, 2015 your coverage starts January 1st 2016.
Sign up for health insurance after December 15, 2015 your coverage will start February 1st 2016.
Sign up for health insurance before January 15th 2016 your health insurance will start February 1st 2016.
Sign up for health insurance by January 31st 2016 and your health insurance will start March 1st 2016.
After January 31st you cannot buy health insurance unless you fall into a special enrollment period. Special enrollment periods are triggered by life changes, like you lose your health insurance coverage through your employer, or you move to another state and your current health insurer does not provide coverage in your new location.
What Happens If I Do Not Buy Health Insurance?
Now is the time to buy health insurance during open enrollment. If you miss the January 31st 2016 deadline you will have to wait another year and may need to pay the penalty on your 2016 taxes. The penalty for not having health insurance is 2.5% of your families annual household income, or $695 per adult, plus $347.50 per child up to the age of 18, which ever it greater! No one wants to settle up with the IRS at tax time.
Give Cheri, Patti, or Valerie a call 800-452-6826. They will be happy to help you and your family sign up for health insurance.
Have a great day