The Biden Administration is doing all it can to encourage Americans to sign up for health insurance, including extending enrollment periods and subsidies. And now, because the Covid Special Enrollment Period that ended in August was so successful (3 million Americans signed up for health insurance during that time!) President Biden has decided to extend the fall Affordable Care Act (ACA) Open Enrollment Period (OEP) by 30 days. The OEP will now run from November 1- January 15, 2022, meaning you will have 75 days to purchase health insurance this year instead of the usual 45 days (the OEP usually ends on December 15). And not only will the OEP be extended, but the Administration is also offering more ways to make health insurance affordable for millions more people.
OEP Extended
The Biden Administration has made getting as many Americans insured as possible a top priority, which is why they are issuing this extension.
“Health care is a basic human right, and the Biden-Harris Administration is committed to making health coverage more accessible than ever. With the Affordable Care Act and the American Rescue Plan, the President has brought affordable health coverage to millions—many of whom now have insurance for the first time,” said Center for Medicare and Medicaid Services (CMS) Administrator Chiquita Brooks-LaSure. “Today’s action to extend the Open Enrollment Period by a month, to continue our investment in local health care Navigators, and to establish a special enrollment period for many low-income people further demonstrates our commitment to connect families to coverage.”
Low-Income Health Insurance SEP
In addition to extending the OEP and premium tax credits for millions of Americans under the American Rescue Plan, the Biden Administration is also planning to to help low-income households sign up for health insurance by establishing a monthly Special Enrollment Period for low-income households with incomes no greater than 150% of the federal poverty line. This will make it easier for low-income people to enroll in marketplace coverage all year long, and will help the millions of people who are expected to lose Medicaid coverage at the end of the declared public health emergency successfully transition to exchange coverage.
The new low-income SEP will make it easier for low-income people to enroll in marketplace coverage all year long.
Those wanting to take advantage of the low-income SEP will only be able to purchase plans through the marketplace exchanges, and state-based exchanges can choose to implement, or not implement, the SEP. Buyers will be able to purchase any metal-tier plan, but those wanting to switch their coverage will be limited to purchasing Silver plans.
“We’re continuing to answer the clear call from the American public for affordable, accessible care,” said Health and Human Services Secretary Xavier Becerra. “The Biden-Harris Administration has already made historic investments to help connect communities to coverage. By continuing to build a policy framework that can support this momentum, we’re also building back better for communities in need.”
Nobody should have to go without health insurance, especially during these difficult times. So to help provide health insurance to more Americans, the Biden Administration is making changes to the health insurance system in this country, allowing everyone more time to get coverage and more opportunities to find an affordable plan. If you would like to review your options in your area, contact a local licensed EZ agent. Our agents are highly trained and work with the top-rated insurance companies in the nation, making comparing plans fast and easy. To get free quotes, simply enter your zip code in the bar above, or to speak with a licensed agent, call 888-350-1890.
It’s here! Open Enrollment for your group health insurance plan has come around again, running from November 1 – December 15. Now is the time when you can choose new benefits, or review and change existing health insurance benefits for your employees, and we get it: this time of year can be hectic and stressful, with all of the questions that employees (and you!) might have. Not only that, but you’ve got the weight on your shoulders of knowing that this is your one chance to get this done until next year! But don’t worry, we’ve got you – first, check out our tips below for a smooth Open Enrollment, and then speak to an EZ agent who can help you find the perfect plan for you and your employees.
To qualify for group health insurance, your business must have at least 1 full time employee other than yourself or your spouse.
Does Your Small Business Qualify for Group Health Insurance?
Let’s start with the basics. If you’re new to offering group health insurance to your employees, you might be wondering how you qualify to offer it. Well, it’s actually pretty simple, and more likely than not, your business will qualify! You need to:
Have at least one full-time employee who is not the business owner, or the spouse of the business owner
Be legally registered as a business entity in your state (regulation for this varies from state to state)
Contribute at least 50% to your employees’ monthly premiums
Why Take Advantage of Open Enrollment?
Ok, so your business qualifies to offer group health insurance, but should you? And if you’ve already got a plan in place, why review it during Open Enrollment? Well, there are a few very good reasons to do both:
You and your employees can save money – Enrolling in a group health insurance plan is often cheaper than enrolling in an individual plan. Not only that, but the more employees you can get to sign up, the cheaper the plan could be.
Changes in life circumstances mean changes in insurance needs – If you do already offer group health, you definitely need to take advantage of Open Enrollment and use this time to reassess your and your employees’ needs. Has anything major changed, like births, deaths, or marriages? If so, you might be able to find a plan that offers better or more tailored coverage for a better price.
Group health can mean tax advantages – Who doesn’t love to save on their taxes? Take this time to look into ways you could be saving, like checking if you qualify for the small business health care tax credit, or by choosing to offer tax-advantaged healthcare options, like HSAs, FSAs, or HRAs.
What Should You Be Thinking About When Choosing a Plan?
Another important basic step in the process: knowing what you should be thinking about when exploring your options. Here are 4 essential factors that should go into your decision-making process:
Costs associated with the plan – You’ll want to consider how much employees want to pay in premiums, while also remembering that you have to contribute at least 50% of the amount each month. Also keep in mind things like deductibles, copays, and coinsurance that can all add up, depending on how often your employees access medical services.
The metal tiers of available plans – Familiarize yourself with the so-called metal tiers of plans: Platinum, Gold, Silver, and Bronze. These terms have nothing to do with quality of care, rather they indicate what percentage of costs a plan will pay for covered benefits. For example, popular Silver plans will usually cover around 70% of costs, with the insured paying the remaining 30%.
The type of plan you want – In addition to choosing a metal tier, you’ll also have to consider what type of plan you want to offer to your employees. For example, you can choose from HMO, PPO, POS, and EPO plans; each of these types of plan will offer different price points, since some are more flexible about things like network coverage.
Insurance companies – Check out which insurance companies offer plans in your area, and what their networks look like; you want to be sure that they offer affordable care in locations that are convenient for your employees.
What Should Employees Consider?
So you know what you need to be thinking about, but are you ready to answer your employees’ questions, or take on their concerns? You can help guide them in choosing or changing their plan by telling them to take the following factors into consideration:
The price of the plan – Let your employees know exactly how much the plan will cost them per paycheck.
Their dependents – Your employees should think about who they will need to have covered by their plan, especially if they plan on adding on family members in the coming year, or if they have added any new household members since last year. You’ll also need to make clear your policy on contributing to dependent coverage.
Any changes in coverage – Make sure your employees know what is covered under the plan, especially if there is anything new being added, like dental or vision coverage.
Any added benefits – In addition, if your plan is going to have any new benefits, like telemedicine or wellness programs, let your employees know.
Top Tips for Employers
Group health insurance can seem a bit overwhelming, especially since studies show that 35% of employees have little to no understanding of their healthcare coverage! Not only that, but 22% of employees are confused during open enrollment, 20% are anxious, and 21% are stressed, so it can be tough to know how to approach this subject. But there are some ways to make the process go a little more smoothly. For example, you can:
Go digital – You don’t have to print out reams of paper, or have endless meetings with employees about benefits (which might be tough with all of the work-from-home going on right now)! Save paper, toner, and your and your employees’ sanity by offering everything in PDF form, and by considering holding a virtual benefits fair, which employees will be able to access when it works for them from the comfort of their home.
Keep it simple – When emailing employees about their benefits, be as concise as possible, with price per paycheck and benefits clearly laid out, using language that is easy to understand. You can also include any FAQ sheets you get from your insurer or agent, as well as a glossary of terms and acronyms.
Send out a survey – While you do have to be careful about privacy when it comes to employees’ health, there is no reason why you can’t send out an anonymous survey to find out what your employees are most interested in when it comes to their insurance plan, so you can either make a choice to change the plan you’re offering, or can recommend the right plan to them.
Be creative with your communication – Email is great, but you have tons of options when it comes to follow-up communication and reminders about enrollment, including:
Text messages
Posters
A dedicated intranet webpage
Videos on screens in common spaces
Notices on paychecks (both hard checks and online)
A chat channel, through a platform like Slack
A Twitter chat, complete with hashtags that other employees can search
Yes, it’s Open Enrollment time again, what some might consider the most confusing time of the year. But you know? You got this, and we’ve got your back if you need help choosing, reviewing, or changing your employees’ healthcare plan. Come to EZ.Insure for a dedicated agent who can answer all of your questions, every step of the way, as well as find you fast, accurate quotes and sign you up for a great plan – all for free! No hassle, no obligation. To get started with us today, simply enter your zip code in the bar above or to speak to an agent, call 888-350-1890.
The Health Insurance Open Enrollment Period, or ACA Open Enrollment Period, begins on November 1st and runs through December 15 in most states, or through January in a select number of states. You can change your healthcare plan during this time, or if you don’t have health insurance, this is the time of year to enroll. In fact, this is the only time you can enroll in an ACA plan, unless you experience what’s known as a “qualifying event” (like getting married or having a child), which would open up a Special Enrollment Period for you. Before you enroll in a plan, though, it’s important to first find out what kind of information you will need to complete your application.
Finding A Plan
The best way to find a plan is to compare each plan in detail, and the easiest way to do this is by working with an EZ agent.
Before we get into what you will need to enroll in a plan, let’s review how to find the best plan for your needs. The only way to make sure you’re getting the best plan for your needs is by comparing every available plan in your area, but this can be overwhelming and time-consuming, so make things easier on yourself by working with a licensed agent, who will have access to info on every plan’s coverage and price. An EZ agent can compare plans in minutes for you for free, saving you time and money, while finding the best plan for your medical and financial needs.
Be Prepared
While searching for a plan, you will need some important information to not only find the right plan, but to save you as much money as possible. To make the process go more smoothly, be prepared with:
Your name, address, email address, social security number, and birth date.
Your household size and income, with proof in the form of your pay stub, W2, or tax return. You’ll need this info for any plan you want to enroll in, but you’ll definitely want to use your financial info to check if you qualify for any premium subsidies or cost-sharing reductions, which could save you hundreds of dollars.
All of your doctors’ names and locations so you can make sure that the plan you’re considering covers them. If your doctors are not in the plan’s network, you could end up with some surprise medical bills.
Any medications you are taking. Each plan has its own drug formulary, meaning each plan places medications in one of 4 tiers, which affects how much the drug costs. It is important to make sure that your medications are covered, and that they will not be too expensive for you.
Payment information, preferably a credit or debit card.
The OEP normally ends December 15, but it is important to check within the state you live in, as some have extended the deadline.
When Your Plan Will Go Into Effect
Once you’ve given all of this information to your agent, and you are all set with an affordable plan, your next question might be “When will my plan go into effect?” In states where the ACA Open Enrollment Period ends December 15, coverage will take effect on January 1st. If you already have a plan, and are switching to a new plan, your current plan will end December 31st, and the new one will begin January 1. If you are in one of the states that has an extended Open Enrollment Period through the month of January (California, Colorado, Massachusetts, Nevada, New Jersey, New York, Pennsylvania, Rhode Island, Washington, and Washington D.C.), your new plan’s coverage will begin February 1st.
Need Help?
It is possible to find affordable plans, and with President Biden’s American Rescue Plan Act (ARPA), which expanded premium subsidies to more Americans, you could save anywhere from $50 to $1,000 a month. Finding an affordable plan can be time-consuming and confusing if you’re doing it on your own, but it’s so much easier with an EZ agent; with help from one of our agents, you can cut down on time and stress, and save as much money as possible. Our highly trained agents work with the top-rated insurance companies in the country, and can compare plans for you in mere minutes; not only that, but our services are completely free. To get free instant quotes and guidance, simply enter your zip code in the bar above, or to speak to one of our local licensed agents, call 888-350-1890.
The Open Enrollment Period for purchasing health insurance on the Affordable Care Act (ACA) Marketplace is usually only from November 1 – December 15, unless you experience a qualifying life event. But this year, in the midst of the Covid-19 pandemic, the Biden Administration opened up a Special Enrollment Period so Americans would have the opportunity to purchase a health insurance plan without a qualifying life event. This Special Enrollment Period began on February 15, 2021, and has been extended until August 15, 2021, allowing millions of Americans to sign up for health insurance coverage. In fact, according to a report released by the Centers for Medicare and Medicaid Services (CMS), as of July 14, more than 2 million Americans have signed up for an insurance plan! But the deadline to get a plan is coming up, so now is the time to look at your options, with the help of an EZ agent.
Get More Savings
The American Rescue Plan has helped millions of Americans save more money by expanding premium subsidies to everyone.
Not only did the Biden Administration create this Special Enrollment Period, but they have also passed the American Rescue Plan (ARP), which has expanded subsidies for health insurance premiums, making them available to millions of Americans, and making plans far more affordable. Premium subsidies have been expanded for people at every income level, including those with incomes more than 4 times the federal poverty level.
Before the ARP was passed, individuals and families with incomes above 400% of the federal poverty line were not eligible for premium subsidies, but the new law has made premium tax credits available to them. It also caps premium payments at 8.5% of household income, based on the cost of a benchmark plan – this means that, as long as the cost of a benchmark plan is equal to or more than the 8.5% of your household income, you will receive tax credits.
These expanded subsidies also mean that people making up to 150% of the federal poverty level can now get Silver plans on the Marketplace for $0 a month, with reduced deductibles. The report released by the CMS also showed that, of the new and returning consumers who have selected a plan since April 1, 1.2 million consumers (34%) have selected a plan that costs $10 or less per month after the American Rescue Plan’s (ARP) premium reductions.
The Special Enrollment Period will be ending August 15!
Find A Plan Before It’s Over
“The American Rescue Plan has made health coverage more affordable and accessible than ever – and people are signing up. Health coverage provides the peace of mind that every American deserves,” said CMS Administrator Chiquita Brooks-LaSure. “Through August 15, the American people have an opportunity to select a quality health care plan that works for them, with costs that are at an all-time low. CMS is dedicated to ensuring people in our communities have the coverage they need.”
The opening of the Special Enrollment Period and the expansion of premium subsidies has been a lifesaver for many people, especially for the millions of Americans who have been struggling financially during the pandemic. But this Special Enrollment Period is coming to an end, which means that, while you can still qualify for the subsidies until the end of the year, you will have to wait until the Open Enrollment Period begins November 1 to enroll, unless you experience a qualifying event.
You only have fewer than 3 weeks to find a plan – don’t wait until it’s too late to get insured and have the peace of mind that comes with being covered. EZ.Insure’s agents work with the top-rated insurance companies in the country, and we can compare plans in your area in minutes, helping you find a plan that meets your medical needs, while saving you as much money as possible. No obligation, just free quotes! To get free instant quotes, simply enter your zip code in the bar above, or to speak to a license agent, call 888-350-1890.
It’s tax time again! In addition to the federal and state taxes you are required to pay, this year you might find yourself getting hit with a tax penalty for not having health insurance. But how? After all, after multiple court battles, the health insurance mandate penalty, also known as the individual mandate penalty, was done away with as of January 1, 2019. Or was it? Well, although it is no longer a federal law, states can have their own individual mandate, and some do. If you live in a state that has an individual mandate, and are not insured, get ready to pay a fine.
Which States Have An Individual Mandate?
Currently there are 5 states and the District of Columbia that require you to have health insurance or pay an individual mandate penalty if you do not. If you live in the following states, prepare for a tax penalty for not being insured last year:
California- The penalty in this state for not having a health insurance policy is 2.5% of household income, or $696 per adult and $375.50 per child, whichever is greater.
Washington D.C. – The penalty here is either 2.5% of gross household income, or $695 per individual and $347.50 per child.
Massachusetts- In this state, the penalty varies by income, age and family size; it can be up to 50% of the minimum monthly premium payment the person would have qualified for through Health Connector, the Massachusetts health insurance exchange.
New Jersey- The penalty here is based on household income (which includes the income of any dependents), as well as family size.
Rhode Island- Similar to other states, the penalty here is the same as it would’ve been under the federal individual mandate: a family penalty of $695 for each uninsured adult and $347.50 for each uninsured child, or 2.5% of the household income, whichever amount is greater.
Vermont- While Vermont does have a mandate, the penalty for being uninsured in Vermont was $0 as of last year, but that is subject to change.
Why A Mandate?
The individual mandate was created to encourage more people to sign up for health insurance. Because health insurance operates on a risk sharing model, the more people who are signed up, the cheaper premiums will be, especially if healthier individuals sign up. And even though there is no national mandate, some states decided to pass their own mandates to ensure that more people could get affordable healthcare.
Avoiding The Penalty
You have the opportunity to avoid the penalty next year by signing up during the Covid Special Enrollment Period!
Whether you live in a state with an individual mandate or not, you can get coverage during this Special Enrollment Period that meets your financial and medical needs. EZ.Insure can find you a comprehensive, affordable plan, because our agents work with the top-rated insurance companies in the nation. We can help find any available subsidies to save you money, as well as plans with extra perks, such as gym memberships, and more. We will assess your needs and compare all available plans in your area in minutes, for free! No obligation.
To get free instant quotes, simply enter your zip code in the bar above, or to speak directly to a licensed agent in your area, call 888-350-1890.
The coronavirus pandemic has not only created hardship for many Americans, but it has also created a greater need for access to affordable healthcare. The governor of New York, Andrew Cuomo, is showing that he sympathizes, announcing on January 21 that the Open Enrollment Period for applying for health insurance in the state’s Marketplace has been extended. All New Yorkers will now have the ability to purchase a health insurance plan until March 31.
In order to help battle the coronavirus, the governor of NY is extending the Open Enrollment Period until the end of March.
“Ensuring all New Yorkers have access to health insurance is essential, not only as we continue to fight the war against COVID, but to foster healthier, more resilient and more equitable communities as we rebuild post-pandemic,” Governor Cuomo said. “By extending this deadline until March, New Yorkers who need health coverage will have additional time to enroll and find the plan that works best for themselves and their families.”
Superintendent of Financial Services Linda A. Lacewell said, “Under Governor Cuomo’s leadership, New York is extending the health enrollment period, providing uninsured New Yorkers another opportunity to sign up for high-quality and affordable health insurance. This opportunity to access New York’s health insurance marketplace is critically important during an ongoing public health emergency and during vaccination efforts. The state encourages uninsured New Yorkers to visit NY State of Health and sign up today.”
When Coverage Begins
When you sign up will determine when your coverage starts. Up until March 15th, coverage begins April 1, after the 15th and coverage begins May 1.
Coverage start dates will vary depending on when you sign up for a plan. If you:
Enroll by February 15, your coverage will begin March 1
Enroll by March 15, your coverage will begin April 1
Enroll by March 31, your coverage will begin May 1
New York State of Health Executive Director, Donna Frescatore, said, “The COVID-19 pandemic is far from over and thanks to Governor Cuomo’s leadership, this extension of the Open Enrollment Period will give New Yorkers the extra time they need to enroll in coverage. As vaccine distribution continues throughout the state, having access to quality, affordable health coverage is crucial to staying healthy in 2021.”
Find An Affordable Plan
If you are a New York resident, it is important to take advantage of this extended Open Enrollment Period, and look into all of your options before it is over. The end of March is right around the corner, so speak to an EZ.Insure agent today. We can help make the process easy, and explain all of the added healthcare options that many plans are now offering. Our mission is to help you find an affordable health plan that provides all the coverage you need without breaking the bank, so our services are always free. We will provide you with your own agent who will go over all available plans in your area, answer any questions you have regarding coverage and save you money. To get free instant quotes, simply enter your zip code in the bar above, or to speak directly with one of our agents, call 888-350-1890.
