Still Time to Sign Up for Health Insurance

If you're uninsured, there's still time to sign up for health insurance on the Health Insurance Marketplace and avoid the penalty. Under the Affordable Care Act, 2015 is the first year Americans must prove they had qualifying health insurance (or an approved exemption) for the previous year (when filing 2014 taxes), or face a tax penalty.

For 2015, if you don't obtain insurance by February 15, 2015, the last day to of the Open Enrollment period, the penalty will be applied to your annual taxable income for each full month you don't have health insurance in 2015. The penalty fee is $325 per adult, $162.50 per child - up to $975/family or 2% of family income, whichever is higher. And, without insurance, you will be financially responsible for all of your medical costs.

The good news is based on household income and dependents, some individuals may qualify for financial assistance from the government - or subsidies - towards the cost of the premium and other financial obligations like co-pays or deductibles.

"This is where Vista Health System can help the uninsured in our community," said Barbara Martin, President & CEO of Vista Health System. "With many people lacking access to a computer or just need help maneuvering through the enrollment website, our application counselors can help. We can assist individuals and their families evaluate the available health plans and determine if they're eligible for Medicaid or other insurance options."

Medicaid

In all states, Medicaid provides health coverage for some low-income people, families and children, pregnant women, the elderly, and people with disabilities. In some states, the program covers all low-income adults below a certain income level.

Illinois has chosen to expand Medicaid coverage. This expansion increases the eligibility limits for adults to 138 percent of the Federal Poverty Level (equivalent to an annual income of $16,105/year for one person; $32,913 for a family of four in 2015). However, citizens must enroll in the program; it's not automatic.

Though a major function of www.healthcare.gov is assessing whether individuals and families qualify for financial help to lower the cost of health insurance, Vista's application counselors can perform the same analysis and help with the sign-up process. To make an appointment to meet with an application counselor, call (847) 360-6955.

Open enrollment for health coverage continues through Feb. 15, 2015

To make an appointment for sign-up help for the Health Insurance Marketplace or Medicaid, call Vista Health System at (847) 360-6955.