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Facts You Need to Know for a Successful Open Enrollment, Part 9

Open Enrollment, a key part of the Affordable Care Act, begins November 15th! That’s less than 3 days away. Understanding the basics can help you take advantage of this important time period.  Brought to you by REALTORS® Insurance Marketplace, this nine part series will help you learn important facts about this year’s Open Enrollment.

9.       Supplemental insurance policies paired with qualified health plans can help lower total costs of health care.
Although you are required to have a qualified health plan or pay the penalty, there are ways to get the most out of your money. Consider purchasing a QHP with a lower monthly premium and a higher deductible and pairing it with a supplemental health insurance policy such as REALTORS® Core Health Insurance. You can decrease your total monthly premium and reduce your out-of-pocket expenses related to health care.

 

That’s it. Now you have all 9 Facts You Need to Know for a Successful Open Enrollment. Ready to shop, compare, and enroll? Beginning Saturday, the REALTORS® Insurance Marketplace is able to quote and enroll NAR Members in qualified health plans. Dental and supplemental health plans are available at any time. Click here to get started.

Facts You Need to Know for a Successful Open Enrollment, Part 8

Open Enrollment, a key part of the Affordable Care Act, begins November 15th! That’s 10 days away. Understanding the basics can help you take advantage of this important time period.  Brought to you by REALTORS® Insurance Marketplace, this nine part series will help you learn important facts about this year’s Open Enrollment.

 

8.     Subsidies are available, but there are requirements to receive them.

The Affordable Care Act provides financial assistance for those who meet certain income requirements. The chart below shows income range and household sizes potentially eligible for subsidies. Exact subsidy amounts vary by income and the average cost of health plans in a specific geographical area. If you think you may qualify for a subsidy give us a call; we can help you navigate the public exchange for your area.

 

Income Range Household Size
$11,490 to $45,960 Individuals
$15,510 to $62,040 Family of 2
$19,530 to $78,120 Family of 3
$23,550 to $94,200 Family of 4
$27,570 to $110,280 Family of 5
$31,590 to $126,360 Family of 6
$35,610 to $142,440 Family of 7
$39,630 to $158,520 Family of 8


 

For more information please watch for our next part in this nine part series, posted weekly.

(Pssst…If you can’t wait to see all 9, click here.)

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