With the open enrollment deadline under the Affordable Care Act (ACA) coming up on March 31, 2014, we wanted to send a reminder about the great, affordable medical insurance offered to Medical Solutions Travelers.
If you’ve checked Medical Solutions Traveler insurance rates in the past and thought they were too high, it’s time to check them again! Rates are so low now that a basic, single policy costs just $10 per week. This is great news for Travelers who are needing to enroll in coverage by the ACA open enrollment deadline.
Here are some important things to know about the ACA 2014 open enrollment:
- With the rare exception of a qualifying life event, all Americans must be enrolled in coverage by March 31, 2014.
- If you have not enrolled by this date you may have to pay a penalty.
- If you are assessed a fine, you will have to pay it and it does not count as any sort of premium payment. You will still be responsible for 100% of your healthcare costs.
- Depending upon your income, the penalty for not enrolling in coverage in 2014 is 1% of your annual household income or $95 per person. The penalty will increase each year.
- You can visit healthcare.gov to learn more or to shop for coverage. BUT, if you’re thinking about signing on to a new contract with Medical Solutions click here or call your Career Consultant to learn more about our super low insurance rates — $10 per week for coverage is an amazing rate!
- If you’re only uninsured for part of the year, 1/12th of the annual penalty is assessed for each month you’re uninsured. And, there is a three-month grace period, so if you’re uninsured for less than three months you do not have to pay a penalty. This helpful to know for uninsured Travelers who may be unable to sign up for Medical Solutions’ insurance right away, or may have a lapse in coverage.
Medical Solutions made these huge changes to our insurance rates based upon resounding Traveler feedback. You asked for lower rates, and we listened. Check out this blog from 2013, when we majorly overhauled our Traveler insurance rates, to learn more about why we made this change.
Update, posted 2.10.15: As of April 1, 2015, medical insurance rates through Medical Solutions will start at $15 per week. Rates are subject to change annually upon open enrollment.