It is that time of year again. Time to plan for the health care coverage that can protect you next year; for the coverage that will be there when your family needs it. Do you have all the information you need to pick the right plan for your family? No worries… we are here to help you with everything you need to get a quote for health insurance and apply for the right Obamacare plan for your family’s needs.

How long is the Open Enrollment period?

In California, the Open Enrollment period is October 15, 2019 through January 31, 2020. However, coverage purchased after December 15, 2019 won’t begin until February 1, 2020 at the earliest. Outside California, the federal open enrollment ends December 15, 2019.

While the individual mandate was eliminated at the federal level, there are many states that have implemented some form of an individual mandate at the state level. California is one of those states. California passed legislation that requires all of its residents to obtain qualified health insurance or face a tax penalty. The new mandate, effective January 1, 2020, would require California residents, and any spouse or dependent, to enroll in qualified insurance coverage for each month of the year, with exemptions for individuals on the basis of financial hardship or religious beliefs as determined by the state’s healthcare exchange, Covered California. It includes the plan to offer subsidies to individuals and families with income at or below 600% of the federal poverty level in an effort to address health insurance affordability issues, as well as other affordability measures, such as additional premium assistance subsidies.

What happens during Open Enrollment?

The Open Enrollment period lets individuals:

• renew current individual or family health care plan;
• choose a new plan through the health exchange; or,
• purchase a qualified individual/family plan through a private insurer.

What if someone misses the Open Enrollment period?

Open enrollment is generally the only time that people can sign up for a plan, or switch to a different plan, unless they experience one of several qualifying events. A qualifying event triggers a special enrollment period to purchase health insurance outside of the regular annual open enrollment period.

California Changes You Should Know About

There are two major changes coming to California health insurance in 2020:

• there will be a new state subsidy program that is expected to help 235,000 Californians who previously did not qualify for federal assistance
• the individual mandate tax penalty will be reinstated which means Californians who choose not to buy qualified health insurance, will face a penalty of either $695 per adult ($347.50 per child) or 2.5% of their annual income

Are premium subsidies still available?

Premium subsidies increase to keep pace with the cost of the benchmark plan each year and that will continue in 2020. If you buy health insurance from CoveredCalifornia exchange, whether you qualify for a premium tax credit is determined by your income relative to the Federal Poverty Level (FPL). You don’t qualify for a premium tax credit if your income is above 400% of FPL.

Let us know how we can assist you and your family. Help for individuals through KeenanDirect is free and you can request a no-cost comparison of ACA plans in California.