Between October 1, 2013 and February 28, 2014 more than 241,000 consumers in LA County enrolled in subsidized and unsubsidized health plans through the state’s health insurance exchange, Covered California. The announcement was published recently on the Covered California website along with a reminder that enrollment ends on March 31st. Enrollment increased by 22% between January 31st and February 28th alone, and far exceeded the anticipated enrollment projection of approximately 177,000 in LA County for the 5-month period between October 1, 2013 and February 28, 2014.
Most Californians Must Have a Health Plan to Avoid a Penalty
The healthcare mandate established under the Affordable Care Act requires that most people have health insurance in 2014. Those who don’t will face an individual responsibility payment in 2015 of $95 or 1% of their income, whichever is greater. As long as a person is enrolled in a health plan by March 31st, they will not have to pay an individual responsibility payment in 2015. Coverage will begin on June 1st for those who enroll in a plan between March 15th and March 31st.
Choose from Familiar Plans and Find Out Whether You Qualify for Financial Assistance
The plans offered through Covered California are similar to the PPO, HMO and EPO familiar to most people. There are four tiers of coverage, including bronze, silver, gold and platinum-level policies, which offer progressively more coverage but at progressively higher premiums. Many individuals and families will qualify for cost-sharing subsidies to help pay for medical expenses, or tax breaks to help cover the cost of premium.
Call the exchange-certified insurance agents at Benefit Packages, to find out if you qualify for cost-sharing subsidies or tax breaks, and for help enrolling in plan. There are just days left to enroll—call us today!