News : Open Enrollment Period to Purchase Individual Health Insurance Begins

Residents of Vinton looking to secure individual health insurance for 2019 need to act fast. November 1 marked the beginning of the 2019 Individual Open Enrollment Period (OEP), which is the only time when individuals under the age of 65 can enroll in health insurance coverage for themselves and families without a qualifying event. The 2019 OEP runs through December 15. Individuals who do not purchase individual health insurance for themselves or their families during the OEP will be unable to do so for the rest of the year unless they have a qualifying event. Qualifying events include getting married or divorced, having a child, or losing employer-sponsored coverage. Last year during the OEP, Medica was the only health insurance carrier in Iowa selling individual health insurance plans on the Marketplace. This year, Wellmark Blue Cross and Blue Shield of Iowa rejoined the Marketplace leaving Vinton residents with two Marketplace coverage options. “Plans from Medica or Wellmark Blue Cross and Blue Shield of Iowa can be inexpensive for those who qualify for a subsidy,” explained John Yundt of Wilson Hite Insurance, Inc in Vinton. Anyone who is not offered a plan through their employer and whose expected 2019 income will be below 400% of the Federal Poverty Level (around $100,000 for a family of four) qualifies for a subsidy. “If you are not sure if you qualify, it definitely pays to find out,” said Yundt. Even residents who do not qualify for a Marketplace subsidy have additional options in 2019. “Coverage through an ACA plan may still be unaffordable for those who do not qualify for a subsidy,” said Yundt. “Fortunately there are many options available that act as alternatives to traditional health coverage.” Some of the alternatives include coverage through a Health Care Sharing Ministry, a Short-Term Major Medical Plan, or switching to an employer-sponsored plan. Another alternative option new to Iowans this year is a Farm Bureau Health Plan that is administered by Wellmark Blue Cross and Blue Shield and is available through local independent agents. Individuals in need of coverage for 2019 are encouraged to reach out to their local, independent insurance agent during this time to determine which option is best for them. “There is no penalty for going without health insurance in 2019, however it is still very important to secure coverage, “said Yundt. “Going uninsured is very risky and could result in hefty medical bills.”