2018 Open Enrollment - 10 Key Facts
The 2018 Open Enrollment season is yet again upon us. For open enrollment Wilmington NC will need to know at least ten essential facts, and they include the following:
The Open Enrollment Deadlines are Different This Year
The first important thing we need to tell you is that the deadlines are different this year. For open enrollment Wilmington NC residents will need to have their paperwork filed by no later than December 15, 2017. The Open Enrollment window actually started at the beginning of this month.
Signing Up is Mandatory If You Don't Have Health Insurance Elsewhere
If you do not have health insurance through your employer or your spouse's employer; you lack Medicare, Medicaid, or other government-sponsored coverage; you're over 26 and not on a parent's plan; or you qualify for tax credit then signing up is mandatory for your situation.
During Open Enrollment, You Can Make Changes to Your Current Plan
Your individual or family health insurance is easily renewed during this time. Also, you can easily choose a new marketplace health insurance plan or one through private insurance as well.
Only Health Insurance Applies to Open Insurance
Open enrollment does not apply to auto, homeowners, long-term care, life or any other type of insurance besides health insurance.
If You Miss the Deadline, You May Have to Wait a Year to Purchase Insurance
Unless you qualify for a SPECIAL ENROLLMENT period such as divorce, death of a spouse, or the birth/adoption of a child, you have better make that deadline!
You Should Be Aware of the Penalties for Not Having Health Insurance as Well
If you did not have health insurance in 2017 then the penalty is 2.5 percent of your income or $695 for adult (whichever is the greater amount) and $347.50 per child. These rates will remain the same for 2018.
There are Four Levels of Health Insurance to Choose From
These would include bronze, with the highest out-of-pocket expenses, to platinum, with the lowest out-of-pocket expenses. Obviously, the premiums will be higher for platinum than they would be for bronze.
Health Plans Must Cover 10 Essential Categories
These would include outpatient care, emergency services, hospital stays, infant and prenatal care, mental health, prescriptions, rehabilitation, lab tests, preventative services, and dental and vision for minors.
The Size of Your Family Can Determine Eligibility for Tax Credits
Simply put, to qualify for a tax credit, your family must be at 100 to 400 percent of the Federal Poverty Level (FPL)
If You Suffered a Hardship, You Might Not Have to Buy Insurance
This would include filing bankruptcy, being a victim of a natural disaster or domestic violence, being evicted from your home or many other qualifying hardships. We can determine for you if your hardship meets the criteria.
Contact Schnitzer-Slate Insurance Agency Now
If you need health insurance, contact Schnitzer-Slate Insurance Agency today to ensure you get signed up before the open enrollment period is over. We can help you choose the best health insurance plan for you and your family’s needs.
The Open Enrollment Deadlines are Different This Year
The first important thing we need to tell you is that the deadlines are different this year. For open enrollment Wilmington NC residents will need to have their paperwork filed by no later than December 15, 2017. The Open Enrollment window actually started at the beginning of this month.
Signing Up is Mandatory If You Don't Have Health Insurance Elsewhere
If you do not have health insurance through your employer or your spouse's employer; you lack Medicare, Medicaid, or other government-sponsored coverage; you're over 26 and not on a parent's plan; or you qualify for tax credit then signing up is mandatory for your situation.
During Open Enrollment, You Can Make Changes to Your Current Plan
Your individual or family health insurance is easily renewed during this time. Also, you can easily choose a new marketplace health insurance plan or one through private insurance as well.
Only Health Insurance Applies to Open Insurance
Open enrollment does not apply to auto, homeowners, long-term care, life or any other type of insurance besides health insurance.
If You Miss the Deadline, You May Have to Wait a Year to Purchase Insurance
Unless you qualify for a SPECIAL ENROLLMENT period such as divorce, death of a spouse, or the birth/adoption of a child, you have better make that deadline!
You Should Be Aware of the Penalties for Not Having Health Insurance as Well
If you did not have health insurance in 2017 then the penalty is 2.5 percent of your income or $695 for adult (whichever is the greater amount) and $347.50 per child. These rates will remain the same for 2018.
There are Four Levels of Health Insurance to Choose From
These would include bronze, with the highest out-of-pocket expenses, to platinum, with the lowest out-of-pocket expenses. Obviously, the premiums will be higher for platinum than they would be for bronze.
Health Plans Must Cover 10 Essential Categories
These would include outpatient care, emergency services, hospital stays, infant and prenatal care, mental health, prescriptions, rehabilitation, lab tests, preventative services, and dental and vision for minors.
The Size of Your Family Can Determine Eligibility for Tax Credits
Simply put, to qualify for a tax credit, your family must be at 100 to 400 percent of the Federal Poverty Level (FPL)
If You Suffered a Hardship, You Might Not Have to Buy Insurance
This would include filing bankruptcy, being a victim of a natural disaster or domestic violence, being evicted from your home or many other qualifying hardships. We can determine for you if your hardship meets the criteria.
Contact Schnitzer-Slate Insurance Agency Now
If you need health insurance, contact Schnitzer-Slate Insurance Agency today to ensure you get signed up before the open enrollment period is over. We can help you choose the best health insurance plan for you and your family’s needs.