Open enrollment for 2017 will begin on November 1, 2016 and end on January 31, 2017.
During open enrollment, you have the ability to:
- Compare plans- See the top carriers, new plans and premium rates for 2017
- Compare benefits- See co-pays, cost sharing and out-of-pocket maximums for all networks
- Compare networks- Insure you have access to the provider(s) you prefer
- Determine and decide if there is a better plan for you in 2017
Many individuals and families qualify for subsidies which lower the cost of monthly premiums. These subsidies are in the form of tax credits and are dependent upon the yearly household salary of an individual and/or family. Since policies go into effect as early as January 1st 2017, this will be a projection of the household income which can be updated throughout the year via the Marketplace. These subsidies are optional, though many individuals/families take advantage of these valuable subsidies. Below is a table that illustrates the federal poverty guidelines for the 48 contiguous states and the District of Columbia according to the Department of Health and Human Services.
|2016 POVERTY GUIDELINES FOR THE 48 CONTIGUOUS STATES AND THE DISTRICT OF COLUMBIA|
|PERSONS IN FAMILY/HOUSEHOLD||POVERTY GUIDELINE|
|For families/households with more than 8 persons, add $4,160 for each additional person.|
The process of signing up for a suitable policy during open enrollment is a quick and seamless process through Ratcliff Insurance. Feel free to contact us for all of your insurance needs.