Fact #1 Open Enrollment for 2015 individual health insurance plans begins November 15, 2014. Fact #2: You may apply for coverage outside the dates of Open Enrollment if you have a qualifying event. Fact #3: All individual and small group health insurance plans effective on or after January 1, 2014 must include coverage for 10 essential health benefits — things like preventive care, well visits to the doctor, hospitalization, etc.
What are the differences between grandfathered plans, non-grandfathered plans, and new plans under the Affordable Care Act (ACA)? Here is a helpful chart with some of the key points. Grandfathered Plans (purchased before 3/23/2010 and still active) Non-Grandfathered Plans (purchased 3/23/2010 or later and active prior to 1/1/14) New Plans Effective in 2014 Annual Coverage Limits Annual dollar limits on coverage are ok Not allowed Not allowed Lifetime Coverage Limits
We’ve added a new resource — What Every Business Needs to Know about the Affordable Care Act — on our Resources page. This is a terrific, easy-to-use guide that we think will be very helpful as companies and individuals do their best to learn about the new health care law. Take a few moments to check it out! Better yet, bookmark the page and refer back whenever you need to!
(This post was originally published in May, 2013 and was updated in Nov 2016, Oct 2017, Aug 2018, Nov 2019, May 2020, June 2021, May 2022, and September 2023) A high-deductible health plan (HDHP) is just what the name implies. It is a health insurance plan that has a higher deductible than traditional insurance plans. An HDHP also has lower premiums than traditional coverage. In plain English, when you’re covered
In an earlier post, we discussed the possibility that employers, in the face of increasing insurance premiums, are likely to discontinue offering health insurance coverage for their employees when the next phase of the Affordable Care Act (ACA) goes into effect in January. There are many reasons to believe that this will happen. However, the only absolute certainty when it comes to the future of health insurance in the U.S.