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Rhodes-Warden Insurance Blog

All You Ever Wanted to Know About Insurance

Health Insurance Open-Enrollment

By now, most of us are familiar with Obamacare and the changes it has made in our country’s health care laws.  One of the most far-reaching changes is the Individual Mandate that requires most Americans to have health insurance coverage or pay a financial penalty when they file their taxes.  If you already have health insurance coverage through your employer or are enrolled in Medicare/Medicaid, then you satisfy the requirement. 

The penalty for not having health insurance is referred to as the “Shared Responsibility Payment”.  For 2015 it is the higher of 2% of household income or $325.00 per adult, $162.50 per child under 18 years old with a maximum of $975.00.  For 2016 the penalty increases to the greater of 2.5% of household income or $695.00 per adult, $347.50 per child under 18 years old with a maximum of $2,085.00.  There are some Exemptions that can be found here on the website.  

When it comes to purchasing health insurance coverage, an important time of year is the annual Open Enrollment Period.  This year, the Open Enrollment Period runs from November 1, 2015 through January 31, 2016.  If you plan on purchasing health insurance coverage and want a January 1, 2016 effective date, you will need to have your enrollment completed before December 15, 2015.  You can still apply for coverage after that but you may have a later effective date. 

We’re Here to Help 

Here at Rhodes-Warden Insurance we know that choosing the right health insurance policy for you and your family, at a price you can afford can be challenging.  That’s why one of our certified licensed agents will work with you to make the best choice and help you through the enrollment process.  We can either help you apply through our federal marketplace, to see if you qualify for a premium subsidy to help you pay for your insurance or apply directly through one of the many insurance companies we represent. 

We are currently making appointment times during our office hours Monday through Friday. Appointments can be made subject to availability starting daily at 8:30 a.m. with the last appointment scheduled at 4:00 p.m. each day.  We encourage you to call us early at (541) 258-2131 as available appointment times are filling quickly.  

Here are some helpful links to help you get started: 

While every attempt has been made to ensure the accuracy of all information as of the publication date, the information provided is subject to change. Federal and state rules and interpretations of the Affordable Care Act (ACA) also known as Obamacare continue to evolve, and every individual’s circumstances are unique. Please consult with your own legal and tax advisors for advice.