Obamacare: Your 2015 Coverage

The second enrollment period under the Affordable Care Act, or Obamacare, has begun. In New York state, nearly 900,000 individuals signed up for health insurance during the first enrollment period, with 525,000 of them qualifying for Medicaid.

The deadline to enroll in health care coverage for 2015 through NY State of Health, the state’s exclusive online marketplace, is February 15, 2015. Most individuals will be required to purchase coverage by this date or pay a penalty of $325 or two percent of their taxable income, whichever is greater. Here are a few other dates to keep in mind:

• December 20, 2014: Last day to sign up for coverage starting on January 1, 2015.
• December 31, 2014: All 2014 marketplace coverage ends, no matter when it started.
• January 1, 2015: First date 2015 coverage can begin if your application is completed by December 15, 2014.
• February 15, 2015: Final day to sign up for 2015 coverage. If you miss this deadline, you can’t enroll in coverage during 2015 unless you qualify for a special enrollment period.

When it comes to choosing family health insurance plans or individual plans, nothing is more empowering than having the answers you need, when you need them, so you can make the most informed decisions. CDPHP® is working diligently to provide you with affordable health insurance options to save you time and hassle and help ensure you and your family have the coverage you need to stay healthy.

If you’re still not sure how the Affordable Care Act affects you, check out the lighthearted video (below) created by the Kaiser Family Foundation. Entitled Health Insurance Explained: The YouToons Have it Covered, the five-minute cartoon explains basic insurance concepts, such as premiums, deductibles, and copayments, and is a fun way to understand some complicated topics.

Have more questions? Need additional guidance? There are several CDPHP resources to help you sort through the enrollment process and make the right decision.

“Health Insurance Explained: The YouToons Have it Covered,” The Henry J. Kaiser Family Foundation, accessed December 1, 2014, https://www.youtube.com/watch?v=-58VD3z7ZiQ.

Photo: CC0 Public Domain / FAQ