Okay, so we are into February and there is still time to apply for a plan though the Nevada Health Link Exchange for a March 1st or April 1st or May 1st effective date. The timetables for effective dates are, if you:
- apply between the 1st and 14th of the month, the effective date will be the first of the following month.
- apply between the 15th and 30th of the month, the effective date will be the first of the month following the next month. (So, if one applies on February 20th the effective date would be April 1st.)
The open enrollment period closes on March 31st, so if your income range is within the guide lines for a government subsidy you need to apply before this deadline or you will have to wait until the open enrollment starting in October for a January 1st effective date. There are a few exceptions like the loss of group coverage through an employer sponsored plan or spouse’s group insurance plan.
Nevada is the only state to legislate a year around enrollment for individual plans off the Nevada Health Link Exchange. This means that one can apply for coverage after the March 31st deadline however that are the delayed effective dates you need to me aware of.This does not apply to the Nevada Health Link Exchange, it will close the open enrollment on March 31st.
The Nevada Health Link website is actually working fairly well these days. Now I wish I can say the same for the implementation of the coverage once it’s selected and paid for. All the companies in the exchange are having difficulties getting coverage information or ID cards out to customers. This will eventually change and run smoother but I’m not going to lie, there are some serious growing pains.
Don’t be fooled into thinking the insurance requirement has been delayed for a year! This announcement came out this week but it is for companies that employ 50 or more employees, it has nothing to do with the individual mandate. Also beware of what you hear about Obamacare or Healthcare.gov, this does not pertain to Nevada. Nevada is a state who opted to provide their own exchange and it’s governed by the State of Nevada and deadlines and mandates are a go for now.
Again, I can’t urge you enough: Seek an insurance professional to help answer your questions and help you navigate this insurance maze.