10 things to know about the health insurance enrollment deadline - KMSP-TV

10 things to know about the health insurance enrollment deadline

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ST. PAUL, Minn. (KMSP) -

The Minnesota Department of Commerce is reminding Minnesotans that open enrollment for health insurance is one week away.

The Affordable Care Act dictates those that don't have health insurance by March 31 could face monetary penalties – the larger of either $95 or 1 percent of household income.

10 THINGS YOU NEED TO KNOW

1. Open enrollment ends March 31, 2014

2. The next open enrollment period begins November 15, 2014

3. The penalty increases each year you aren't covered

4. If you have health insurance coverage, you do not need to buy a new plan

5. "Minimum essential coverage" means:

      - Government-program coverage like Medicare, Medicaid/Medical Assistance, the Children's Health Insurance Program (CHIP), veteran's coverage and TRICARE

      - Employer-sponsored coverage or individually purchased coverage someone already has

      -It does not include plans that have limited benefits, like vision or dental plans, disability policies, or worker's compensation plans.

      -In 2015, beginning in 2015, high risk pool coverage and certain self-insured student plans will no longer qualify as "minimum essential coverage."

6. Companies cannot turn you down for coverage if you have a pre-existing condition during open enrollment.

7. You can purchase directly through a health insurance company during open enrollment.

8. You can buy coverage outside of open enrollment during "special enrollment periods" that occur after a "qualifying life event," like getting married or divorced, having a new baby, losing coverage through your job, or moving to a new state.

9. A broker or agent can help you or your small business decide on a plan.

10. A navigator can only provide you with application and enrollment help if you buy your coverage through MNsure. They cannot recommend a specific health plan.

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