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Get Covered: Understand Health Insurance Plans

January 20th, 2014

HHS_HealthCare_MOBILE_BILLBOARDAre you covered by health insurance?

Health insurance is a good idea – it’s good for your finances and for your health. It is also now a legal requirement for most Americans, and help with paying for health is now available to most people with moderate incomes.

You’re already covered if you have Medicare, Medicaid, CHIP (HAWK-I), any job-based plan, any comprehensive plan you bought yourself, COBRA, retiree coverage, TRICARE, VA health coverage, or some other kinds of health coverage.

The Health Insurance Marketplace helps uninsured people find health coverage. Applying and enrolling through the Marketplace (at www.healthcare.gov) lets you:

  • Find out if you’re eligible for free coverage through Medicaid and the Children’s Health Insurance Program (HAWK-I in Iowa)
  • Find out if you can use the Premium Tax Credit to help you pay the health insurance premiums for a plan purchased in the Marketplace.
  • Find and compare good-quality private health insurance plans available in your state. In the Marketplace it’s easy to compare different policies side-by-side so you can choose the one that best fits your needs.

All plans in the Marketplace cover essential health benefits, pre-existing conditions, and preventive care. You can use the Marketplace to buy insurance even if you are not eligible for the Premium Tax Credit.

Get covered!  Most people must have health coverage in 2014 or pay a fee. If you don’t have coverage in 2014, you’ll have to pay a penalty of $95 per adult, $47.50 per child, or 1% of your income (whichever is higher). The fee increases every year. Some people may qualify for an exemption to this fee. If you enroll by March 31, 2014, you won’t have to pay the fee for any month before your coverage began.

Marketplace open enrollment for 2014 ends March 31, 2014. The proposed open enrollment period for 2015 is from November 15, 2014 to January 15, 2015.

Questions? Call 24/7 hours a day, 1-800-318-2596 (TTY: 1-855-889-4325) www.healthcare.gov

~Susan

Insurance, Saving, Smart shopping

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