10 Things you need to know about Open Enrollment (Obamacare)

  1. Open enrollment starts 11/15/2014 with earliest effective date 1/1/2015 and will end 2/15/15.
  2. You can use a broker at no extra cost by applying through insurance carriers or Healthcare Marketplace.
  3. Subsidies are available to families up to 400% of the Federal Poverty Level (family of 4 =$94,200) and reduce monthly premiums.
  4. You have to purchase health insurance through a Healthcare Marketplace to receive subsidies.
  5. HSAs plans will still be offered in the Health Insurance Exchange.
  6. If your health premiums exceed 8 % of your income you are exempt from any penalties.
  7. Indian tribe members and Christian Sharing programs are exempt from any penalties under the law
  8. There will be no underwriting or preX exclusions on health plans within exchanges.
  9. Non-group plans or “individual health plans” are now guaranteed issued.
  10. If you have access to a group health plan that includes “essential benefits” you will NOT be eligible for subsidies unless your employee only rate exceeds 9.5% of your household income.

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