Blog Site: December 2015

The deadlines for Health Insurance are approaching fast. Get your plan by December 15th 2015 so that it is effective January 1st 2016. This will ensure you avoid paying any government penalties for not having health insurance in SC, NC and FL.

Important Deadline Dates

November 1st 2015 - Annual Enrollment Period begins
December 15th 2015 - Enroll by this date to get a plan effective January 1st 2016
January 1st 2016 - Coverage can begin

Penalty for Missing the Deadline

The penalty for missing the deadline and not having health insurance in 2016 is calculated 2 ways. You will pay the higher of:

Percentage of Income

2.5% of household income
Maximum of the average cost of a Bronze Plan

Per Person

$695 per adult
$347.50 per child under age 18
Maximum of $2085

Get a new health insurance plan in under 15 minutes at www.MyHealthInsuranceUSA.com .

Consumers Choice Health Plan Closing
You may have heard via the Charleston Business Regional Business Journal that the health insurance company Consumers Choice is closing.

Get a new health insurance plan in under 15 minutes at www.MyHealthInsuranceUSA.com .

***CHOOSE A NEW PLAN BY DECEMBER 15TH, 2015 TO REPLACE CONSUMERS CHOICE SO THAT IT IS EFFECTIVE JANUARY 1ST 2016***

Health Insurance for Self-Employed *If you are self-employed in SC, NC or FL, then you may already be comparing ACA Obamacare Health Insurance Plans. Mortgage Brokers and Real Estate Agents are a massive population of the self employed, as are Lawyers, CPAs and other Independent Consultants. All self-employed individuals are required by the Affordable Care Act (ACA) to purchase individual health insurance, unless covered by a group health insurance plan.

If you or your company has an Individual or Group Health Insurance Plan with Consumers Choice Health, get in touch with us today.

* Remember, if you need health insurance urgently, and miss the Obamacare Annual Enrollment Period (AEP) which runs from November 1st to January 31st, you may still be eligible to purchase health insurance between February 1st and October 31st. The government calls this a Special Enrollment Period. Get in touch to see if you qualify.

**If you miss the Obamacare Annual Enrollment Period (AEP), which runs from November 1st to January 31st, you may have to pay a government penalty / fee.

The information in this article is not intended as tax or legal advice, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek tax or legal advice from an independent professional advisor. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Hedges Wealth Management.

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