The first annual enrollment for health insurance will come to an end on March 31, 2014. Applying before March 15, 2014 will allow you to have an April 1 effective date, and applying between March 16 and March 31 you will have a May 1, 2014 effective date.
After March 31, 2014, the next time you can apply for health insurance is during the 2015 annual enrollment period of November 15, 2014 to February 15, 2015, unless you experience a qualifying life event. Between April 1, 2014 and December 31, 2014, you will only be able to apply for individual or family health insurance if you experience a qualifying event. Here is the list of qualifying events:
– Gaining a dependent due to marriage
– Gaining a depended due to birth, adoption, or placement for adoption
– No longer eligible as a dependent under prior health insurance due to reaching maximum age, legal separation, divorce, or death of a policyholder
– No longer eligible for prior health insurance due to employment termination, reduction in employment hours, loss of employer contribution toward premiums, or exhausting COBRA benefits
– Gaining access to new health plan options because of a permanent residence move
– Newly ineligible for payments of the advance premium tax credit (subsidy)
– No longer residing or living in my prior health insurance plan’s HMO service area
– Error occurred in my previous health plan enrollment
– Having adequately demonstrated that my previous health plan or issuer substantially violated a material provision of its contract with me
– You and/or your dependent(s) lost minimum essential coverage (due to reasons other than non-payment of premium or rescission)
As dictated by the Affordable Care Act, short-term or temporary health insurance plans do not meet the minimum essential coverage requirement to avoid the IRS tax penalty. Depending on your family size, you may be subject to an IRS tax penalty for not carrying health insurance during 2014.
If you have specific questions about your situation, please contact me anytime at 708-646-9280 or firstname.lastname@example.org. Everyone’s situation is different and I am here to help you navigate the new laws.
If you think you qualify for a government subsidy, I am still able to help you select a plan and assist with the application process.