For many of you, the renewal letters may be in the mail today. The following is some general guidelines on how to renew these existing plans as published by BCBSNC on their blog.
- A GRANDFATHERED HEALTH PLAN (one that was purchased before 3/23/2010, you can keep this plan but must renew the plan with no plan design changes. You can alternatively select a new plan for 1/1/2015 which will be written/priced in accordance to the rules of the Affordable Care Act.
- A NON GRANDFATHERED PLAN PURCHASED BEFORE SEPTEMBER 2013, you can renew for 2015 without any plan design changes. You can alternatively select a new plan for 1/1/2015 which will be written/priced in accordance to the rules of the Affordable Care Act.
- A HEALTHCARE.GOV AFFORDABLE HEALTHCARE PLAN that you purchased after 1/1/2014, you will be receiving a letter from your carrier that will give you your current plans new rate/ plan design. You can talk to your carrier directly to change plans within the same company. If you want to change companies, you need to call your agent.
- IF YOU ARE CURRENTLY NOT ENROLLED FOR HEALTH COVERAGE OR WILL BE LOOSING YOUR GROUP HEALTH COVERAGE AS OF 12/31/2014 you can enroll for coverage between 11/15/2014 to 2/15/2015. Please note that to have coverage by 1/1/2015, you must be signed up by 12/15/2014.
- IF YOU ARE NOT BUYING HEALTH INSURANCE either because the price is to expensive or you don’t want it, be aware that once 2/15/2015 passes you cannot get health insurance unless you have a special qualifying event – marriage, birth, loss of group health coverage.
- Individual Mandate Penalty: In addition, as of 4/15/2016, you will pay an individual penalty for not having qualified health coverage of 2% of your income or $325 whichever is greater. ( Please be aware that you don’t have to pay the individual penalty if you can not afford health care because of the financial hardship. You will need to submit a 2014 individual hardship waiver with your 2014 taxes.)
As always, we are here to help if you have any questions. Health Plans Raleigh (919) 977-1272