Enroll in the Affordable Care Act Before January 31, 2016

Affordable Care Act Culver City CA

Make sure to sign up for your health insurance under the Affordable Care Act by January 31, 2016!

Under the Affordable Care Act, all U.S. citizens are required to obtain health insurance. Signing up through open enrollment is crucial to make sure you’re covered for the upcoming year. Failure to sign up for insurance may lead to some hefty tax penalties. Make sure to enroll by January 31, 2016 and check out these tips to demystify your health insurance coverage.

Mandated Coverage.

There are ten essential health benefits that must be covered by certain plans. They ensure that you receive the coverage you need under an affordable health plan.

Four Types of Policies.

  • Bronze — This is your most basic policy. It covers 60 percent of your doctor bills, while you are responsible for the other 40 percent of your coverage.
  • Silver — This policy covers 70 percent of your medical costs, while you pay 30 percent.
  • Gold — This policy will pay 80 percent of your medical bills, while you pay 20 percent.
  • Platinum — This is the most coverage a policy can provide. It offers 90 percent coverage though the insurance company while you pay the remaining 10 percent.

Premiums and Deductibles.

When choosing a policy, remember that while you may opt for a less expensive monthly premium, you may have a higher deductible in the event that you need medical attention. Consider which policy best suits your lifestyle needs and budget.

Premium Tax Credits.

Depending on your financial situation, you may be eligible for a discount on your monthly premium through a tax credit. If you earn a certain income, the government will provide you with a premium tax credit to lower your monthly premium.

For assistance finding the right health insurance, be sure to contact the professionals at ISU Wissink Insurance. Located in Culver City, California, we serve all your personal and commercial insurance needs.