The Centers for Medicare & Medicaid Services (CMS) announced on Feb. 20th that a special enrollment period (SEP) for the individual Health Insurance Marketplace will begin March 15 and run through April 30. The special enrollment period will allow individuals and families who were unaware of the penalty for not securing coverage to enroll in a 2015 plan through the FFM.
To be eligible for the FFM special enrollment period, consumers must:
- Have paid the penalty for not having health coverage in 2014
- Not be currently enrolled in a plan on HealthCare.gov
- Attest that they first became aware of, or understood the implications of, the Shared Responsibility Payment after the end of open enrollment (February 15, 2015) in connection with preparing their 2014 taxes.
Coverage effective dates:
- Begin on March 15, 2015 and end at 11:59 pm E.S.T. on April 30, 2015. If a consumer enrolls in coverage on or before the 15th of the month, coverage will be effective on the first day of the following month.
Find out if you are eligible to take advantage of the special enrollment period by visiting https://www.healthcare.gov/get-coverage.
For more information, please see the CMS press release or contact your TIE Sales Representative.