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ACA enrollment extension granted to some individuals

While the official deadline for enrollment in Qualified Health Plans (QHP) under the Affordable Care Act remains Monday, March 31st, some individuals may be granted an extension.  HHS and the Centers for Medicare & Medicaid Services (CMS), who oversee the federal exchange at healthcare.gov, will allow individuals who start their application by March 31st but are unable to finish, to complete their enrollment in the first weeks of April.  Beyond that, only individuals who qualify for a Special Enrollment Period may enroll in a qualified health plan between April 1st and November 15th.  You can read a more detailed article on the ACA enrollment extension, here.

Questions about whether this affects you, and what your options might be if you miss the deadline?  Call SASid and speak with a licensed insurance agent: 877-267-3752

Open Enrollment Deadline Nearing: March 31st, 2014

The Open Enrollment period for Qualified Health Plans comes to a close on March 31st, 2014. What exactly does that mean for you?  If you haven’t enrolled in a qualified health plan by March 31st you may be subject to tax penalties of $95 per adult/$47.50 per child (maximum of $285 per household) or 1% of your household income, whichever is the greater of the two. If you miss the deadline, you will have to wait until November 15th (unless you qualify for a Special Enrollment Period), the proposed date when open enrollment begins for 2015.

REALTORS® Insurance Marketplace provides NAR members with the ability to quickly compare and apply for Qualified Health Plans through the private Members Health Insurance Exchange. With this private exchange there is no need to navigate through the potentially cumbersome sign-up process of the public exchanges. Our private exchange is easy to use and there are licensed benefit specialists available to help you.

Click here to get your qualified health insurance quote:  Members Health Insurance Exchange

Or you can call SASid to speak to a licensed insurance agent: 877-267-3752.

HHS Releases Final Rule on Health Insurance Market, Rate Review

News Alert: February 25, 2013

HHS Releases Final Rule on Health Insurance Market, Rate Review

The U.S. Department of Health and Human Services released a final rule on Feb. 22, 2013 that implements key provisions of the Affordable Care Act (ACA), including the requirement to cover people with pre-existing conditions.

The final rule further implements five provisions of ACA that are applicable to non-grandfathered health plans:

  • Guaranteed Availability
    Individual and small group policies will be guaranteed available subject to open and special enrollment periods in the individual market.
  • Health Insurance Premiums
    Health insurance companies offering coverage to individuals and small employers can vary premiums based on age, tobacco use, family size and geography. The rule implements the age rating at no greater than 3:1 and tobacco use rating at 1.5:1.
  • Guaranteed Renewability
    Health insurance companies must renew coverage subject to certain exceptions such as non-payment of premium.
  • Single Risk Pool
    Insurers are required to maintain a single statewide risk pool for claims experience in the individual market and single statewide risk pool for the small group market.
  • Catastrophic Plans
    Young adults and people for whom coverage would otherwise be unaffordable will have access to a catastrophic plan in the individual market.