The Affordable Care Act (ACA), also known as “Obamacare,” was signed into law on March 23, 2010 and the first enrollments were effective January 1st, 2014. In 2019, over 11 million people enrolled in the ACA for 2020. The law established minimum standards for health insurance and covers pre-existing conditions- which helps those who were formerly unable to obtain health insurance.
Normally, Open Enrollment takes place from November to mid-December of each year and takes place on the Health Insurance Marketplace. Some states may use their own specific website. Most states, including North Carolina, use the federal marketplace. As a local insurance agent in Wilmington, NC, I would be happy to help you find a plan that fits your needs and budget. Call today for a free consultation 910-775-0700.
Characteristics of ACA:
- If you are eligible, coverage is guaranteed
- There are no health questions
- Pre-existing conditions are covered
- Quick approval process
- Potential tax credits (a.k.a. subsidies)
- Plans vary by geographic location
LOST YOUR HEALTH INSURANCE DUE TO A LAYOFF? WE CAN HELP!
If you have lost your health insurance due to a job loss, you may be eligible for health insurance under the Affordable Care Act (Obamacare) through the Marketplace.
Losing your health insurance as a result of a job loss is considered a “Life Event” but you only have 60 days to apply from the day that you lose your health insurance.
As a NC licensed and certified insurance agent, I can help you obtain a BC/BS health insurance plan through the Marketplace.
Please share with your friends and anyone who may have lost their job/insurance.
Call 910-775-0700 today to find out if you qualify!
OPEN ENROLLMENT
Typically, the Open Enrollment period extends from November 1st thru December 15th of each year. Exceptions can be made if you qualify for a Special Enrollment Period (SEP). [See next section]
Once are enrolled, you do not have to re-enroll every year BUT it is recommended as some plans do change. If your current plan changes from one year to the next and you chose to automatically be re-enrolled, you will be mapped to the plan that takes the place of your current plan.
Plus it’s very important to update any changes in family size and household income.
SPECIAL ENROLLMENT PERIOD (SEP)*
One may qualify for a “Special Enrollment Period” if they experience a qualifying event. Some examples include:
- Losing health insurance coverage due to:
- Job loss**
- COBRA running out
- Divorce or annulment
- Death
- Losing Medicare eligibility
- Losing Medicaid or CHIP
- Needing health insurance coverage due to:
- Moving to an area with different health plans
- Getting married
- Having a baby, adopting a baby, or placing a child in foster care
- Gaining citizenship or lawful presence in the U.S.
- Being released from incarceration (detention, prison, or jail)
TAX CREDITS MAY BE AVAILABLE!
Based on your household income and size, you may qualify for a premium tax credit which can be applied to lower your monthly premiums. If your falls income below a certain level, you may be eligible for additional Cost Sharing Reductions (CSR) such as a lower co-payments and co-insurance.
If you have questions or would like free assistance in obtaining ACA coverage, please call me at 910-775-0700. We’ll be happy to provide you with a free quote!
*IMPORTANT: You may not be eligible for a SEP if you voluntarily dropped your individual coverage or neglected to pay the premium. Also, you would be ineligible for a SEP if you lost your Marketplace coverage because you failed to submit required documentation that the Marketplace requested.
**NOTE: You only have 60 days before or 60 days after the qualifying event to enroll in a plan. If you miss your SEP, you must wait until Open Enrollment in November to apply.