**VERY IMPORTANT** All ACA (Affordable Care Act) compliant policies will have an effective date of January 1, 2015, regardless of when prior coverage was effective in 2014. You DO NOT want to miss the open enrollment period. Open Enrollment for purchasing health insurance for 2015 is November 15-February 15. If you would like to make changes in your health insurance coverage, you must do so during this period.  Carriers have indicated that they will be auto-renewing policies effective January 1, 2015 if no changes are made.  Also, if you do not currently have coverage, you MUST purchase coverage during this enrollment period.  IF YOU DO NOT PURCHASE HEALTH INSURANCE DURING OPEN ENROLLMENT, YOU WILL BE UNABLE TO GET COVERAGE AGAIN UNTIL JANUARY 2016 unless you have a qualifying event (birth, marriage, divorce, loss of coverage).
If you are receiving a tax credit for your health insurance plan, it’s time for a midyear checkup. If your income, family size, or job status has changed, the IRS is urging people to report it to avoid any confusion come tax time. How you are receiving your tax credit and any income fluctuations may require you to do some reconciliation on your 2014 taxes. Please note that if you do not have coverage in place in 2015 you may be subject to IRS penalties. You can read about IRS penalty calculations HERE. Please contact our office for more information at healthsales@rss-insurance.com or 303-429-3561 ext. 113.