2015 Healthcare Enrollment

Enrollment Periods

 

11/15/14-12/15/14 for 1/15/15

12/16/14-1/15/15 for 2/1/15

1/16/15-2/15/15 for 3/15/15

 

ENROLL AFTER 2/15/15 ONLY with Special Circumstances

 

How to report your household size

 

Include:

 

Yourself, Your Spouse

 

Your Children who live with you, even if they make enough money to file a tax return themselves.

 

Anyone you include on your tax return as a dependent, even if they don’t live with you.

 

Your unmarried partner, ONLY if one or both of these apply; they are your dependent for tax purposes. They are the parent of your child.

 

Who is Eligible for Financial Assistance on 2015 Health Insurance Plans?

 

Average Household Income

• Family of 4 = $95,400
• Couple = $62,000
• Individual = $46,680

Important

If you’re married, you must file a joint tax return for 2015 in order to get lower costs on coverage based on your income tax in 2015.

 

2015 Health Care Plan Types

Basic (Catastrophic) plan, for those under 30 or those with certain hardship situations, have high deductibles. The plan includes copays for doctor visits; otherwise the member has 100% coverage after they meet their deductible. The advance tax credit is not available with this plan, but the premium will be lower.

 

Bronze plan will be the lowest-priced plan where the Advanced Premium Tax Credit can be used. Appeals to those looking to just, “comply with the insurance mandate.”

 

Silver is the only plan where those who qualify can apply a cost share reduction subsidy and the advanced premium tax credit

 

Gold and Platinum plans have higher premiums, but much lower deductibles, copays and maximum out of pocket.

 

• The Law Makes Healthcare More Affordable
• The Law Increases Your Access to Affordable Care
• The Law Allows Coverage for Pre-Existing Conditions

 

Application Checklist

• Home and/or mailing addresses for everyone applying for coverage.
• Social Security Numbers
• Employer and income information for every member of your household, paystubs or W-2’s
• Your best estimate of your household income for 2015
• Policy Numbers for any current health insurance plans covering members of your household
• Notices from your current plan that include your plan ID, if you have or had health coverage in 2014
• A completed “Employer Coverage Tool” for every job-based plan or someone in your household is eligible for. Your agent, Stetson Videon, will assist you with this.

 

Employer coverage is considered affordable – as it relates to the premium tax credit – if the employee’s share of the annual premium for the lowest priced self-only plan is no greater than 9.5% of annual household income. People offered employer-sponsored coverage that’s affordable and provides minimum value isn’t eligible for a premium tax credit.

Which Income Sources to Include

• Wages
• Salaries
• Tips
• Unemployment compensation
• Social Security payments including Disability payments- but not SSI
• Alimony
• Retirement Income
• Investment Income
• Pension Income
• Rental Income
• Any other taxable income

Do not include as Income

• Child Support
• Gifts
• Veteran’s disability income
• Workers compensation
• Proceeds from loans
• Pre-tax deductions on your pay stub, such as retirement contributions, child care.

2015 Uninsured Tax Penalties

 

$325 per Adult and $162.50 per Child (up to a family maximum of $975)… Or 2% of your household income, whichever is GREATER.

 

T. Stetson Videon III

 

Stetson has been providing health and life insurance products to businesses and individuals in Augusta and surrounding areas since moving to  Augusta in 1984. He is a graduate of Georgia State University and Atlanta Law School.  He also holds the Professional Designation of Chartered Life underwriter.

Call today for an appointment. 706-733-6888 or tsv1@dtcinsurance.com or send in  contact request below.