Open enrollment opened on November 15th, which allowed you to start signing up for health coverage for the 2015 year. If you have already signed up, your new coverage will begin on January 1, 2015. If you have not already signed up for a policy, you have until February 15, 2015. If you signed up for coverage in the 2014 Marketplace, your coverage will end on December 31, 2014.
When you sign up for health insurance during open enrollment it will determine when your coverage will start. If you sign up between the 1st and the 15th of the month, your coverage will start on the first day of the following month. If you sign up between the 16th and the last day of the month, your coverage will start on the first day of the second following month. For example, if you sign up on December 16th, your coverage will start on February 1, 2015.
If you do not sign up for the minimum essential coverage during the open enrollment period, you will have to pay heavy fines and be left without health coverage for the upcoming year. All health plans that are offered in the Marketplace meet the minimum essential coverage. Most plans that are offered by private insurers also meet the standards, but make sure that you ask before you sign up for a policy. Keep in mind that you will also need to maintain the minimum essential coverage throughout the year to comply with the Affordable Care Act Mandate.
For help finding the right health insurance policy that will best benefit you and your family, contact Sackett & Associates Insurance Services in Santa Rosa, California. We will work with you to ensure that you have the right amount of coverage for your specific needs.