Uninsured Washington residents have less than a week to purchase health coverage through the state-based insurance exchange, Washington Healthplanfinder.
New and renewing exchange customers have until 9:59 p.m. Sunday to select and pay for a health plan for coverage beginning March 1. After the deadline passes, only those with qualifying life events will be eligible to enroll in exchange plans before the next open enrollment period begins this fall.
This year, the penalty for not having health insurance increases to $325 per person or 2 percent of annual household income, whichever is greater.
As of Jan. 31, more than 132,000 people had enrolled in a health plan for 2015, with nearly 45,000 of those people signing up for the first time through the exchange, www.wahealthplanfinder.org.
In Clark County, about 5,000 people have renewed their health plan for 2015 through the exchange. Another 3,100 Clark County residents enrolled in an exchange plan for the first time.
Enrollment in Washington Healthplanfinder Business, as well as Medicaid — called Washington Apple Health — is year-round. Medicaid customers will receive a notice 60 days before the month they enrolled in or renewed their coverage last year.
In anticipation of increased enrollments at the deadline approaches, the exchange’s customer support center, 855-923-4633, will have special weekend hours. The call center will be open 7:30 a.m. to 4 p.m. Saturday and 7:30 a.m. to 9 p.m. Sunday.
New tax form
In 2014, health plan customers received $334 million in insurance tax credits to lower their plan premiums, according to Washington Healthplanfinder.
Customers who enrolled in coverage last year provided their estimated annual income to the exchange to determine their eligibility for financial help. The federal tax credit could be taken on a monthly basis to lower premiums or at the end of the year on an annual tax return.
Those who enrolled in health plans through the exchange in 2014 should have received a new tax form, 1095-A, from the exchange last week. The form includes information regarding the amount of tax credit customers utilized on a monthly basis in 2014 and will assist them in completing their tax returns.
“Since the majority of customers chose to take the health insurance premium tax credit on a monthly basis to lower their health insurance costs, they may see adjustments on their annual tax return,” said Richard Onizuka, chief executive officer of the exchange, in a news release. “Customers may see their tax credit either increase or decrease based on their total 2014 income.”
Those enrolled in Medicaid will not receive a 1095-A form from the exchange.
