March 31st is the deadline to enroll in a health plan through Covered California, the state’s health insurance exchange. Those who do not enroll in coverage on or before March 31 will face a penalty on their 2015 tax return of $95, or one percent of their income. The original enrollment deadline of January 1st was extended because of technical problems with the Covered California website; the extension will allow more individuals to sign up.
Several health insurance carriers will be offering coverage through the exchange, including well-known names like Anthem Blue Cross. Which companies offer coverage in any given region varies, however—there are a total of 19 designated regions throughout California.
Tiered System Offers Consumers More Choice
Plans through the exchange are set up in a tiered system that allows consumers to choose how much coverage they want. The system includes bronze, silver, gold and platinum-level policies, with each plan becoming progressively more expensive, but covering more. For example, a bronze-level plan has the lowest premium, but covers just 60 percent of expenses, while the platinum-level plan has the highest premium, but covers 90 percent of expenses.
Get Help Paying for Coverage
Many consumers will qualify for tax breaks to help cover premium costs, subsidies to help cover medical expenses, or both. Whether a person qualifies for financial assistance depends on income, not employment status. So, if a person is not working but earns income from rental properties, for example, they would include that income when determining eligibility for tax breaks/subsidies.
Find Out Whether You Qualify for Financial Assistance and Enroll Today
To learn whether you qualify for a subsidy or tax break to help pay for coverage, and to enroll in a plan, contact the exchange-certified agents at Benefit Packages. Our agents are fully trained to answer all of your questions about Covered California, and we are in a unique position to help you find affordable coverage through the health insurance marketplace or through a private plan.