While there is no longer a penalty for not having health insurance, anyone can face an unexpected and potentially devastating financial impact due to a health crisis.
By Christine Stuart, CTNewsJunkie.com
With the economy still struggling, the need for health insurance is growing as the Dec. 15 deadline to purchase a plan through Access Health CT looms.
An estimated 5,632 Connecticut residents, who had never purchased plans through the exchange, signed up for plans through Access Health CT, which opened on November 1. As of November 16, more than 12,000 of the roughly 100,000 customers with plans in 2020 have renewed their plans for 2021.
That leaves more than 80,000 customers needing to renew or purchase a new plan by December 15.
Access Health CEO James Michel said they were seeing a modest increase in enrollments based on last year’s numbers around this time.
âThis year is like any other year, so it’s hard to predict how things will end,â Michel said Monday at a Zoom press conference with Lt. Gov. Susan Bysiewicz.
He said some employers have laid off or laid off employees, but gave them the option of staying on the employer-sponsored insurance plan until the end of the year.
âWe have no idea what impact this is going to have,â said Michel.
The loss of a job would be considered a qualifying event that would allow a person to purchase health insurance on the exchange outside of the typical enrollment period.
Victoria Veltri, Board Member of Access Health CT and Head of the Office of Health Strategy, said Monday that âcoverage is really essential to be able to access care. This is almost a prerequisite in most cases for getting good, solid health care.
But for two years, no sanction has been imposed on people who decide to do without health insurance.
In 2017, after attempting to repeal and replace the Affordable Care Act, which allows states like Connecticut to create their own insurance stock exchanges, Congress reduced the individual term penalty to $ 0 effective. of 2019 as part of the tax reform legislation.
However, even though there is no penalty, Veltri said anyone can face an unexpected health care need, even young people.
Veltri said the state is going through an “unprecedented crisis” and now is the time to take advantage of the enrollment period, which ends December 15 for plans that will cover you in 2021.
âHaving coverage gives people peace of mind so you don’t have to face unnecessary medical bills when you need to access health care,â Veltri said.
There are federal grants, and about 75% of people who register with one of the exchange’s two private carriers will receive financial assistance. And the overall increase in plans is lower than in previous years, so 50% of loyal customers are expected to have no increase or decrease in monthly net premium in 2021.
It is estimated that 55% of customers buy silver plans.
There are several ways to buy a plan. Either through the website, call center, broker, or appointment at one of six in-person registration locations. There is more information on HealthAccessCT.
Republished with permission from CTNewsJunkie.com, all rights reserved.
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