State extends enrollment deadline to ensure more people have the insurance coverage they need
Those living in New York will have more time to purchase health insurance coverage through the state’s exchange in order to ensure that they are covered on January 1, 2016. The New York State of Health is eager to see more consumers enroll for coverage and avoid facing a federal fine associated with being uninsured. With the enrollment activity that the state’s insurance exchange has been experiencing this month, state officials are hoping that the extended enrollment deadline will ensure more people who are still looking for insurance will be able to find the policies they want before being hit by federal fines.
Uninsured consumers will be hit with a penalty from the federal government
The federal government will be issuing a fine against those without health insurance coverage. This fine is associated with the Affordable Care Act and, per the health care law, is set to become more financially strenuous next year. Those with insurance coverage will avoid the fine, of course, but the uninsured may be able to acquire waivers that allow them to do the same. State and federal officials suggest, however, that consumers do not go without insurance coverage.
State’s insurance exchange has been experiencing greater enrollment activity
The extended deadline for enrollment will provide more consumers with enough time to find coverage through the state’s health insurance exchange. Many consumers have been flocking to the exchange to find policies, with exchange officials noting that they have answered more than 170,000 calls from consumers last week. The exchange website saw more than 43 million unique page views from November 1 through December 10.
Consumers must have active health insurance coverage by January 1 to avoid fines
The open enrollment period for insurance exchanges is set to end on January 31, 2016. Consumers must have active health insurance coverage on January 1, however, to avoid federal penalties. The fine for being uninsured will be issued to consumers when they file their 2017 tax returns, when they must inform the Internal Revenue Service whether or not they have health insurance coverage.