Did you know that the deadline to sign up for health insurance in the new Marketplace is fast approaching? Those who do not select a plan by March 31 may end up being subject to a penalty if they do not have qualifying insurance from another source. According to a recent survey, only about 45 percent of those surveyed correctly identified March 31st as the cut-off date for purchasing insurance in 2014.
Just like people who have insurance through their employer, the Marketplace has what’s called an “open enrollment period” when people can purchase an insurance plan. Those who miss the March 31 deadline must wait until the next open enrollment period (November 15, 2014, through January 15, 2015) to purchase a health insurance plan. The only exception to this rule is if someone has a “qualifying event,” like a marriage, divorce, death, birth, or some other event that causes them to lose their health insurance, or would require a change.
So, visit healthcare.gov today to review the health insurance plans available in your area and see whether you’re eligible for financial assistance. Time is running out!