If you haven’t signed up for an individual health insurance plan by March 31, you will be generally unable to do so in 2014.
One of the new realities ushered in by the Affordable Care Act (Obamaare) is that individuals will only be able to enroll in compliant health insurance policies during a defined “open enrollment” period each year. That will typically take place between mid-October and mid-December, with enrollments becoming active January 1. During this initial open enrollment period, the deadline was extended until March 31.
But, barring further action by the government, once it closes it is closed and you will not be able to buy a traditional individual health insurance plan. The earliest date you could have coverage effective will be January 1, 2015.
Please note: Health insurance plans that are not on the government’s exchange (the “federally facilitated marketplace” at healthcare.gov) are choosing to enforce the open enrollment period as well. If you want to have a traditional health insurance plan effective this year, you will have to buy it this month.
A couple other things to keep in mind:
* The law does make allowances for special circumstances. If you have what is called a “qualifying even” you will be given a window during which you can purchase a plan. Qualifying events include things like marriage, divorce, birth or adoption, and losing group coverage.
* You will still be able to buy a short-term health insurance plan, which will give you a good safety net for the remainder of the year at a significantly lower price than an Obamacare-compliant policy. A short-term plan provides solid catastrophic protection, though it will not get you out of a fine for not having a “compliant” health insurance plan.
If you have questions or would help getting enrolled in a health insurance plan, we invite you to contact us today.
