If you don’t have health insurance or haven’t renewed your Affordable Care Act policy, it’s a date you need to put on your calendar.
December 15 is the final day to renew a health insurance policy and have coverage on the first of the year. If you don’t renew, your plan will expire like champagne bubbles on New Year’s Eve.
No health insurance? Enrolling by the 15th gets you covered on New Year’s Day, too!
Remember, there’s a federal tax penalty for not having health insurance that is taken out of your taxes. The 2016 penalty is double what it was in 2015.
“There are a number of dates we have to get used to with health insurance enrollment,” Matt Leonard, Blue Cross and Blue Shield of Nebraska director of sales said. “If you renew or purchase after January 1, your coverage will start February 1. If you wait until the January 31 deadline, your coverage starts March 1.”
Leonard suggests if you’re unsure of what to consider, find a trusted resource to help.
The majority of Blue Cross customers have taken advantage of the tax credits offered through the Affordable Care Act. The average tax credit in Nebraska last year was $257 per month.