Monthly Archives: January 2014

Here are the latest individual mandate dates!!

Affordable Care Act- Date reminders!!

You need to sign up for individual/family coverage on or before March 31, 2014 which is the deadline to sign up for coverage which, of course, is the last day of open enrollment.

It was uncertain if Americans would have to be covered by March 31, or just sign up by March 31 2014.

The deadline was confirmed by the Department of Health and Human Services earlier this week — people who buy coverage at any point during the open enrollment period will not pay a penalty.

Important Dates for Individual Mandate

Here are the key dates for open enrollment, getting coverage, and avoiding the individual mandate penalty:

  • October 1, 2013: Online health insurance exchanges opened for plan shopping and enrollment.
  • January 1, 2014: Earliest coverage date for new qualified health plans.
  • !!March 31, 2014: Open enrollment for qualified health plans ends. If you miss this date, you will have to wait until fall 2014 to enroll, unless you have a qualifying event. Then you can enroll in a special enrollment period. .
  • October 15, 2014 – December 7, 2014: Open enrollment period for 2015 coverage.

How Much is the Individual Mandate Penalty?

The individual mandate penalty is phased-in over three years:

  • In 2014, the penalty is $95 per person up to a maximum of three times that amount for a family ($285) or 1% of household income if greater.
  • In 2015, the penalty will be $325 per person up to a maximum of three times that amount for a family ($975) or 2% of household income if greater.
  • In 2016, the penalty will be $695 per person per year up to a maximum of three times that amount for a family ($2,085) or 2.5% of household income if greater.
  • Beginning in 2017, the penalties will be increased by the cost-of-living adjustment.


What Types of Health Coverage Counts?

However, if you have existing health insurance coverage, such as the following,  you have satisfied the mandate:

*Coverage under government sponsored programs (e.g. Medicare and Medicare)

*Coverage under an “eligible employer-sponsored plan” (e.g. health insurance your job provides).

8Coverage under a plan offered in the individual market within a State (e.g. an individual plan purchased through the exchanges or through a broker).

*Coverage under a grandfathered health plan.

 A “grandfathered plan” is a group health plan was in existence on the date of enactment of Health Care Reform, March 23, 2010. 

*Other coverage, such as coverage under a State risk pool, that the Secretary of Health and Human Services (HHS) chooses to recognize as minimum essential health coverage.

Eric’s Insurance web page:

Look forward to meeting you!

Any questions????

Have questions about ACA,  the site, how do you get health insurance quotes, do I quality for a tax credit,etc???? or may be -how do I save my wage check if I’m sick or injured.

Self employed and concerned about health insurance, life insurance,etc?

I would be delighted to meet you and answer any questions you may have.

If you would like to discuss any aspect of ACA or health insurance in general OR particular.

I shall be at the CVS store, 9230 E Broadway, Mesa, AZ 85205 from 1-4pm on Wednesday the 15th January, 2014!

I look forward to meeting you.


Eric Walters Insurance Services.

Cell: 620-616-1660/Office Phone: 480-657-8595/Fax:480-657-8591


Eric’s Insurance web site:


Some type of indemnity health plans to to approved?

It is reported that HHS will write regulations that will get many of the fixed indemnity insurance products out of having to comply with the new Patient Protection and Affordable Care Act (ACA) major medical insurance rules.

The new regulations will help individual indemnity products that pay a fixed amount of cash to a consumer who has a heart attack, suffers from a stroke, enters the hospital, or experiences some other event,etc.

ACA now requires major medical issuers to comply with a long list of underwriting and benefit design rules. The issuers have to meet minimum medical loss ratio rules, eliminate annual and lifetime benefits, and cover a basic package of preventive health services without imposing co-payments or deductibles on the patient.

Federal agencies will classify a group plan as an indemnity product only if the plan pays a fixed amount of cash each day, each week or for some other period of time.

Some individual indemnity products pay fixed amounts of cash per time period, but others pay a lump sum when a consumer has an accident, gets sick or gets medical care.

HHS will let event-based indemnity escape from ACA if an insurer:

  1. Sells the products only to people who have major medical insurance;
  2. Makes no efforts to coordinate the benefits with a customer’s major medical coverage;
  3. Pays a fixed amount regardless of the amount of expenses incurred and regardless of the amount of benefits paid by any other health coverage;
  4. Warns the customer that the products are not major medical coverage and will not help the customer meet PPACA coverage requirements.

HHS will already start to apply those guidelines in states in which HHS has direct enforcement authority In other states, HHS will encourage the states to treat a product that meets the guidelines as a product that falls outside the scope of ACA.

Eric’s insurance web page: