This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

What to Do If You Missed the Obamacare Deadline

NEW YORK (TheStreet) -- The White House says there were 7 million individual health care sign-ups as of a March 31 deadline, while the Los Angeles Times, citing an upcoming Rand study, notes that only one-third of ACA health care signups were of uninsured people. (Rand says 9 million Americans have signed up for health care plans directly from insurers, but the vast majority of those individuals were insured.)

Then there's the issue of paid signups: The White House hasn't released a breakdown saying how many people signed up for a health care plan but have not paid. Nor do we know how many signups came from the all-important younger Americans, who are needed to balance out older enrollees using expensive health care services in greater volume.

But what if you missed the signup date, don't have health care and want it?

eHealth, a Mountain View, Calif., private online health insurance exchange, has a guide for people in that position.

"Unfortunately, there are still Americans without health insurance today," says Gary Matalucci, eHealth vice president of customer care. "Based on data collected from our call center and certain media reports, some of these people didn't realize the law applied to them. Others were unaware of the opportunities for coverage that were available or misunderstood the deadline."

All is not lost, Matalucci says.

"Some of these consumers may still have coverage options other than major medical insurance," he adds.

Officially, the federal government has said there will be no deadline extension. But if you started your application before March 31 on HealthCare.gov, the federal government's health care insurance exchange market, you may have some leeway. "Some consumers who started applications prior to the end of open enrollment will be granted more time to complete them if they were unable to finish due to certain system errors on the federal marketplace," eHealth says.

In addition, private health insurance companies "may create additional open enrollment periods for their customers, or even additional special enrollment periods for additional qualifying life events," eHealth says. The firm advises reaching out to your state insurance office or calling a licensed insurance agent for information.

Uncle Sam will waive its tax penalty of $95 or 1% of your annual income, whichever figure is larger, if you don't have health care coverage -- if you keep your time without insurance to less than three consecutive months during the year, eHealth says.

If you have a pre-existing condition, you may be out of luck. Technically, insurers can't decline coverage for pre-existing health conditions, but under the terms of the ACA "they are not obliged to sell health insurance to consumers who have not experienced a qualifying life event or some other exceptional circumstance (such as a system error) defined by the law," eHealth says.

Certain specific health insurance policies, such as short-term health care plans, accident insurance, critical illness coverage and dental insurance, are still available to health insurance consumers, but they will not meet the coverage standards of the ACA and are not subject to the "pre-existing conditions" rule under the new heath care law.

The next open enrollment period isn't until Nov. 15. (It goes through Feb. 15.)

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $132.54 0.00%
FB $80.54 0.00%
GOOG $540.11 0.00%
TSLA $247.73 0.00%
YHOO $43.48 0.00%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs