FAQs: 2018 Individual Health Insurance
A: Open Enrollment for 2018 begins November 1, 2017 and ends December 15, 2017. This is a big change from last year, which allowed Open Enrollment to continue through the end of January.
January 1st, 2018
You must have a Qualifying Event and apply within 60 days of your loss of coverage or qualifying event in order to purchase health insurance outside of Open Enrollment, and you must provide documentation as proof of that qualifying event.
Examples of a Qualifying Event include losing group coverage, getting married, having a baby, moving to another state and out of the ‘service area’ of your current plan, etc. Termination for non-payment of premium is not a qualifying event.
If you get stuck and need help, you can contact Barker Phillips Jackson! We are here to help you compare your options and enroll in a plan that meets your needs and budget! Paying the consulting fee will give you time with a trusted advisor to help you. To schedule a consultation: click here.
Absolutely! We have collected all the current information for 2018 on a Self Serve page to assist you will the process. To access the Self Serve page: click here.
There is no difference. The price is identical. However, IF you qualify for a Tax Credit based on your income, the government is actually paying a portion of your medical premium for you, thus lowering your overall premium.
If your income is between 100% and 400% of the Federal Poverty Level (FPL), you may qualify for a Tax Credit. Depending on how many people are in your household and the total Adjusted Gross income for the household, you could receive a tax credit. Access to health insurance through an employer will most likely make you ineligible to receive tax credits.
If you need coverage for a month or two before the new plan kicks in, purchase Short Term Medical. NOTE: Short term policies are not ACA approved coverage as defined by the law. Check for rates and plans here: Ancillary Products
You’ll need to pay the first premium within a 30-day grace period of the policy effective date or you will not have insurance. Note that when applying for Open Enrollment with Cox HealthPlans a form of payment is required with the application. Setting up a premium draft from your bank account is usually the easiest method of payment to select when you enroll. The first draft from your bank account will occur on January 4, 2018. You can change the payment method at any time after the first premium is drafted in January or let it continue to draft the first of each month. The products on the ancillary page require payment with application by credit card.
You don’t need to pay the full premium. You must apply for the Tax Credit through the government website to get this tax credit. If you qualify, you can receive the Tax Credit one of two ways:
- Apply towards your premium so that you pay the reduced amount. The total premium for your coverage is $450/month, and you receive a tax credit of $50/month, you only need to pay $400/month to the insurance company; or
- You can pay the whole amount and use the tax credit when you file your tax return.
The termination policy is located in your Policy plan booklet. Cox HealthPlans will accept a verbal termination from the policyholder on a recorded phone call. The phone number is 417-269-4679. Plans are only termed forward to the end of the month in which you notify the company. If you have purchased other insurance for 2018 – you must call them by December 29th due to the holiday. Failure to notify Cox HealthPlans by this date will result in premium due for the month of January. Agents of Barker Phillips Jackson are unable to terminate coverage for you over the phone. It is the responsibility of the policyholder to contact the insurance company.
If you have an existing policy with Cox HealthPlans, you can use the Individual Policy Change Form. In Section D of the form – you will need to write the plan name that you want to change to for 2018 and the rate you quoted for that plan on the Cox HealthPlans link. Be sure to have the policyholder sign and date the form in section E. Plan change forms will need to be received at Cox HealthPlans by December 15th in order to be accepted. Save your confirmation email or successful fax submission proof with the date and time sent.
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