Tag Archives: health

Health Insurance Special Enrollment Period For New Yorkers Facing Tax Penalties

Did you file your taxes for 2014 and realize you were penalized for not having health insurance? If you were, you now have a second chance to avoid a penalty for 2015. If you did not enroll for health insurance during this year’s open enrollment, and were fined a federal penalty for not having health insurance you still have the opportunity to enroll for health coverage through the Special Enrollment Period starting March 1 and ending April 30, 2015.

Read the following article on the Special Enrollment Period extended beyond Open Enrollment Period to accommodate those individuals and families penalized:

Press Release: NY State of Health Announces Special Enrollment Period for Uninsured New Yorkers Facing Tax Penalties

You are welcome to contact us if you have any questions or concerns. Our Life and Health Department can assist you with this any of your Health Insurance needs. Life and Health Account Executive, Narima Prashad, can be reached by phone or email: (718) 386-5050 x 7069 | NPrashad@jpins.com.

Does Your Health Insurance Pay For Your Gym Membership?

Personal_Training_at_a_Gym_-_Cable_CrossoverThe number one New Year’s resolution around the world is to get fit, lose weight, and overall be healthier. Sometimes we just need a little more push to make the extra effort to achieve that goal. What if we informed you that your health insurance may actually pay for your annual gym membership?!

Yes, you did read that correctly! There are a number of health insurance providers who will reimburse you for the entire year’s membership. You will feel better and may even save yourself some money as you live that healthier lifestyle.

Contact your insurance provider today to find out if they offer this service. And, if they do, find out what the process is to receiving that reimbursement. More and more insurance companies are beginning to see the value in taking care of their members.

This could be the news you have been waiting for!

And check out these simple tips on how to keep your New Year’s resolution going all year long:

1) Be realistic. Give yourself an attainable goal. It’s good to set the bar high, but take it one step at a time.

2) Make a plan before you start. Create a work-out calendar that works best for your schedule to keep you feeling successful.

3) Talk about it with your family and friends. It will make them aware of your goals which they can support you in.

4) Understand that Challenges do occur. Don’t beat yourself up if you do miss a day or two . So stay positive and remind yourself that tomorrow is another day.

5) Keep track of your progress. Keeping a journal will help you acknowledge your smaller accomplishments which will lead to your ultimate goal.

6) Treat yourself. Have your favorite food every once in a while as a reward for your hard work. Or treat yourself to some new clothes to work out in if you want to stay away from food reward until you meet your ultimate goal.

YOU CAN DO IT ! GOOD LUCK !

Resource: http://life.gaiam.com/article/10-tips-help-you-keep-your-new-year-s-resolution

Health Insurance Open Enrollment for 2015 begins November 15th

If you do not have health insurance at this time, November 15th is the quickly approaching date for you to take advantage of the opportunity to be eligible to purchase a policy.  Did you know that as of January 1st 2015, any adult without health insurance earning above the Affordable Care Act (ACA)  income threshold, is responsible to pay a penalty of $95.00 or 1% of their annual income (whichever is higher)?   Did you know that there is a limited time for you to apply for coverage?

So maybe you lost the health insurance sponsored by your employer or you no longer qualify to be on your parent’s plan due to your age.  Beginning on November 15, 2014 you have a chance to be proactive and purchase health insurance for an upcoming January 1, 2015 effective date.  This is called “Open Enrollment”.  If you haven’t applied for coverage by February 15th, 2015 you will need to wait until the next Open Enrollment period scheduled for November 15, 2015.

What is Open Enrollment?

This is a period during which an individual can apply for health insurance with fewer restrictions than at any other time during the year. It is important for those individuals who are not covered under their employer’s insurance, or simply are uninsured, to pay close attention and remember the dates for Open Enrollment:  November 15, 2014 through February 15th, 2015. During Open Enrollment, insurance companies are supposed to waive underwriting guidelines and any requirement for evidence of insurability. When Open Enrollment ends individuals seeking coverage need to be “qualified” for Special Enrollment, or they will have to wait until the next scheduled open enrollment period on November 15, 2015! Special Enrollment or qualifying events include, but are not limited to: divorce, marriage, birth, death and loss of employer sponsored coverage.

•How can individual insurance be purchased?

A number of Health Insurance Companies are offering Individual health coverage either directly through health carrier websites, via the New York State Health Exchange, or off the Exchange through independent insurance brokers.

• What penalties will you be responsible to pay if you are not covered?

In 2014: $95.00 or 1% of income (individual)

$285.00 or 1% of income (family)

In 2015: $325.00 or 2% of income (individual)

$975.00 or 2% of income (family)

In 2016: $695.00 or 2.5% of income (individual)

$2085 or 2.5% of income (family

Although the penalty may seem minimal in 2014, as you can see, it will increase for the upcoming years. Keep in mind that you will be responsible to pay the greater amount; percentage of income, or fixed dollar amount.

Health_topic_imageSome people feel that the premium for a health insurance plan seems unnecessary and excessive for a young healthy individual. However, we strongly suggest that you keep in mind that “accidents do happen” and the cost of an emergency room visit, x-rays, MRIs, hospital stays and doctor visits add up and can be devastating to you and your family’s financial situation.

We urge you to take advantage of this opportunity to purchase health insurance during this year’s Open Enrollment.

By Narima Prashad
Account Executive