US Health Insurance for 2020: Important Dates and Dates
Open enrollment for 2020 Health Plans begins on November 1, November 2019.
Remember important dates recommends Health agents:
26 October 2019: published insurance plans and information about benefits - time to plan the purchase of insurance.
November 1 2019 of the year: open registration begins - on the first day you can register (for the first time or repeatedly) or change the plan of insurance of the 2020 of the year to the Health Insurance Marketplace. Insurance coverage may come into effect on January 1 of 2020.
December 15 2019: The last day to register or change coverage plans that start on January 1 on January 2020.
Do you still need 2019 year coverage, and is the deadline ending?
You can still get health insurance if you are entitled to a special registration period in connection with the relevant life event - for example, marriage, loss of other coverage, or the birth of a child. The special registration period is the medical insurance period, which lasts most of the year (from 1 January to 31 October) and requires supporting documentation for an important event.
If you qualify for SEP, you usually have up to 60 days after the event to register for the plan. If you skip this window, you will have to wait until the next open registration period to apply.
Short term coverage
Apply for a short-term plan for the remainder of the year, or start on 1 January. These plans are cheaper than many individual plans, but they do not cover some of the main benefits, such as motherhood. Such insurance plans are the best option if you are not eligible for a special registration period.
Changes in the insurance market in 2019 year
Health Insurance Benefits
An individual mandate was canceled in 2019: this means that Americans who do not have health insurance in 2019 can avoid a tax penalty. The new rule provides for exceptions for residents in districts where no health insurance company provides insurance coverage, or only one insurer offers it.
Check tax exemptions
Another rule is introduced in an attempt to improve the Advanced Premium Tax Credits (APTC) program. To do this, they will introduce “more stringent inspections”, within the framework of which tougher measures will be taken to make sure that those who apply for extended tax benefits really receive the income they claim. The new measure will disqualify any applicant who is unable to file taxes or negotiate previous APTCs.
The Medical Loss Ratio (MLR) has been enacted in accordance with the Affordable Care Act. MLR is estimated from 0% to 100% and measures the amount of money from contributions of participants spent by insurers on the requirements of participants, and not on overhead costs. For example, if a medical insurance company allocates 0,90 dollars for every dollar to cover medical requirements, and the remaining 0,10 dollars go to cover overhead costs, the MLR for this insurer will be 90%.
Obamacare had the so-called 80 / 20 rule, which meant that health insurance companies should have an MLR of at least 80%. For health insurance companies offering coverage of large groups (usually up to 50 or more people), this minimum figure jumped to 85%. The innovation will weaken the Obama-era MLR rules, helping to “ease the burden” for health insurance companies. This would allow more companies to enter the market and create more competition in an attempt to lower costs.
Under the Affordable Care Act, insurance companies were required to justify any increase in premiums by 10% or more, but that number would increase to 15% in 2019. In addition, the new rule will involve state regulators in the rate review process and free students' health insurance plans from federal tariff review requirements.
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