If you’re uninsured, there’s still time to sign up for health insurance on the Health Insurance Marketplace and avoid the penalty. Under the Affordable Care Act, 2015 is the first year Americans must prove they had qualifying health insurance (or an approved exemption) for the previous year (when filing 2014 taxes), or face a tax penalty.
For 2015, if you don’t obtain insurance by February 15, 2015, the last day to of the Open Enrollment period, the penalty will be applied to your annual taxable income for each full month you don’t have health insurance in 2015. The penalty fee is $325 per adult, $162.50 per child – up to $975/family or 2% of family income, whichever is higher. And, without insurance, you will be financially responsible for all of your medical costs.
The good news is based on household income and dependents, some individuals may qualify for financial assistance from the government – or subsidies – towards the cost of the premium and other financial obligations like co-pays or deductibles.
“This is where BRMC can help the uninsured in our community,” said Chip Camp, CEO of BRMC. “With many people lacking access to a computer or just needing help maneuvering through the enrollment website, our application counselors can help. We can assist individuals and their families evaluate the available health plans and determine if they’re eligible for Medicaid or other insurance options.
Medicaid
In all states, Medicaid provides health coverage for some low-income people, families and children, pregnant women, the elderly, and people with disabilities. In some states, the program covers all low-income adults below a certain income level.
“Even though Texas has chosen not to expand Medicaid, there are still many individuals in our community who qualify for Medicaid coverage,” explained BRMC CEO Camp. We can help screen these individuals and if they qualify, we can enroll them at any time, with health coverage beginning immediately.”
“Let us help take the frustration out of the enrollment process. Call us at (325) 649-3331 before February 15 to help you get a healthy start to the New Year,” said Camp.
BRMC and its employed physicians proudly accept Marketplace health plans from Blue Cross Blue Shield of Texas and Assurant (Aetna Network).
2015 open enrollment continues through February 15, 2015. To make an appointment for enrollment help for the Health Insurance Marketplace or Medicaid, call 234-649-3331.
Top reasons to sign up for health insurance coverage:
8. If you don’t have health insurance and experience a serious illness or medical emergency, you will be responsible for all of your medical costs.
7. Some colleges, universities and international programs require proof of insurance to enroll.
6. You cannot be denied coverage because of a pre-existing condition such as diabetes or a previous diagnosis of cancer.
5. Marketplace health insurance plans must cover essential health benefits, such as emergency and ambulatory services; hospitalization (such as surgery); pregnancy, maternity, and newborn care; prescription drugs; lab services; pediatric services and many more.
4. Marketplace health insurance plans must cover a set of preventative services like screenings, tests and vaccinations to keep adults and children healthy.
3. Depending on household income and family size, you may qualify for financial assistance from the government – or subsidies – toward the costs of premium and other financial obligations like copays or deductibles.
2. Some individuals and families may qualify for low cost coverage through Medicaid.
1. If you can afford health insurance coverage in 2015, but don’t sign up, you may have to pay a penalty.
