Shorter open enrollment period has begun for ACA

Shorter open enrollment period has begun for ACA
November 02
05:00 2017

No, President Trump and the Republican Congress haven‘t “repealed and replaced” President Obama’s Affordable Care Act (ACA), the federal health care law, yet. But yes, as Open Enrollment began on Nov. 1 this week, there are significant changes than in previous years.

According to an Oct. 30 release from the N.C. Dept. of Insurance Monday, the enrollment period, now underway, ends on Dec. 15 for coverage through the 2018 Federal Health Insurance Exchange to begin Jan. 1, 2018. N.C. Insurance Commissioner Mike Causey says this is the shortest enrollment period (45 days) in recent years, so those without health care coverage elsewhere should act immediately.

And in order to qualify for federal tax subsidies to offset the rising cost of health insurance premiums, those seeking to apply should go online to

The average ACA health insurance premium is calculated at $662 per month, but after the APT subsidy tax credit kicks in, comes down to just $129 per month, and in some cases, as low as $87 a month.

Reportedly, 549,158 North Carolinians signed up for the ACA last year for 2017 coverage, a decrease of over 64,000 more who signed up the year before.

Failure in having health insurance in 2018 will result in a sizable tax penalty, officials warn. For the past two years, that fee has been $695.00 per uninsured adult, and $347.00 per uninsured child, or 2.5 percent of household income, whichever is higher.

Also keep in mind, per new rules that are now in effect, insurance companies can now deny you coverage if you owe them money on current coverage. You must settle any outstanding balances before you will be re-enrolled.

And you can also be denied the premium tax credit to lower your bill in 2018 if you’re behind in your taxes. To correct this, fill out the federal tax reconciliation IRS form 8962 to determine your 2016 taxable income.

For more information, call the N.C. Dept. of insurance to speak to a consumer specialist at 1-855-408-1212.

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Cash Michaels

Cash Michaels

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