We are coming up on the first regular Renewal and Open Enrollment Period since the Affordable Care Act has been implemented. This is the time to make changes to your plan for the coming year.
If you have health coverage through an employer, check if your employee only premium contribution is greater than 9.5% of your income. If so, you may be eligible for subsidies through Covered California. Please call me to discuss your situation.
If you have an individual health plan but not receiving any Premium Assistance Tax Credits, November 15th is the time to change plans if a different physician network or drug formulary needs to be accessed. Please call me to discuss if your current plan is still suitable for you.
If you have a plan through Covered California, there are a few things to keep in mind:
If you have health coverage through an employer, check if your employee only premium contribution is greater than 9.5% of your income. If so, you may be eligible for subsidies through Covered California. Please call me to discuss your situation.
If you have an individual health plan but not receiving any Premium Assistance Tax Credits, November 15th is the time to change plans if a different physician network or drug formulary needs to be accessed. Please call me to discuss if your current plan is still suitable for you.
If you have a plan through Covered California, there are a few things to keep in mind:
October 13th through December 15th is the Renewal period where existing Covered California members have an opportunity to update their household information, income, carrier, and plan design.
If no action is taken, you will be renewed into your current plan with 2015 prices. An exception is for Health Net members who are having their PPO plans canceled. These members MUST select another plan.
If your Consent for Verification of Income was not given initially, it is important to update this option. Otherwise, the Premium Assistance Tax Credits may stop because Covered California can't verify your income with the IRS.
It is also important to re-estimate your projected 2014 income. If it is substantially (+- 10%) different than originally estimated, then a change to your income should be reported to Covered California. Not reporting accurate income figures may result in potential liability to pay back any advanced subsidies.
If you don't have a health plan yet, or you lost your plan during the year, open enrollment runs from November 15th to February 15th. There are no health condition questions as insurance is now guaranteed issue. Please contact me to discuss the best plan for your situation.
If you have a business with employees and would like to explore the tax advantages of sponsoring a small group health plan, please let me know. Small business plans are tax deductible for both employer and employee and can be set up to reduce FICA and workers comp insurance premiums.
If you have questions about your health insurance, please contact me at jcaris@carisagency.com or 707-935-6294 x103.
If no action is taken, you will be renewed into your current plan with 2015 prices. An exception is for Health Net members who are having their PPO plans canceled. These members MUST select another plan.
If your Consent for Verification of Income was not given initially, it is important to update this option. Otherwise, the Premium Assistance Tax Credits may stop because Covered California can't verify your income with the IRS.
It is also important to re-estimate your projected 2014 income. If it is substantially (+- 10%) different than originally estimated, then a change to your income should be reported to Covered California. Not reporting accurate income figures may result in potential liability to pay back any advanced subsidies.
If you don't have a health plan yet, or you lost your plan during the year, open enrollment runs from November 15th to February 15th. There are no health condition questions as insurance is now guaranteed issue. Please contact me to discuss the best plan for your situation.
If you have a business with employees and would like to explore the tax advantages of sponsoring a small group health plan, please let me know. Small business plans are tax deductible for both employer and employee and can be set up to reduce FICA and workers comp insurance premiums.
If you have questions about your health insurance, please contact me at jcaris@carisagency.com or 707-935-6294 x103.
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