Lindeneau Insurance Services & Investments, LLC is licensed in TEXAS to Sell Life & Health Insurance Products. Located in the Houston area, our agency specializes in Healthcare products, such as Medicare Health Plans, Individual & Group Health Plans, and Prescription Drug Plans. We also have products for Long Term Care, Life, Dental and Disability. We are independent brokers, representing a large number of insurance carriers and plans, to ensure the best fit for every client.

Friday, March 13, 2015

New Health Insurance Special Enrollment Period for Tax Season

The Centers for Medicare and Medicaid Services (CMS) announced a new Individual Health Insurance Marketplace Special Enrollment Opportunity beginning on March 15 through April 30. This Special Enrollment Opportunity is for individuals and families who did not have health coverage in 2014 and are subject to the fee or "shared responsibility payment" when they file their 2014 taxes in a Federally Facilitated Marketplace (FFM) states.

Who is Eligible
Clients who live in a FFM state are eligible for this Special Enrollment Opportunity if they:
  • Are not currently enrolled in health coverage through the FFM for 2015,
  • Attest that they paid the fee for not having health coverage in 2014, and
  • Attest that they first became aware of, or understood the implications of, the penalty or shared responsibility payment after Feb. 15, 2015, when Open Enrollment ended, in connection with preparing their 2014 taxes.
State-based Exchanges (SBE) have the flexibility to determine whether they will establish a similar special enrollment period. Check specific SBE websites for additional information. 

What This Means
Eligible clients will have the opportunity to purchase an On-Exchange Individual Health Plan from March 15 through April 30.
  • Enrollments made by the 15th of the month will have coverage effective on the 1stday of the following month.
  • Enrollments made after the 15th of the month will have coverage effective on the 1st day of the second month.
The fee for not having health insurance increases to $325 per adult or 2% of income for 2015. Individuals taking advantage of this special enrollment period will still owe a fee for the months they were uninsured and did not receive an exemption in 2014 and 2015. This special enrollment period is designed to allow such individuals the opportunity to get covered for the remainder of the year and avoid additional fees for 2015.Our office will be open Sunday, March 15th for anyone who pre-schedules an appointment, to enroll for coverage.  The reason for this is because March 15th is the cutoff for an April 1 effective date.  Anyone who waits until April 16th or after, will have an effective date of either May 1 or June 1 (depending on the exact date of enrollment).  For anyone desiring an April 1 effective date, it is imperative to enroll no later than this Sunday, March 15th.