No Health Insurance?
What You Need To Know
Here’s information about penalties and Open Enrollment for those without ACA-compliant health insurance.
Other Important Links
Who does The Summit Agency, Inc. represent? See our list of insurance carrier appointments.
ERISA? To find out what it is, see this government link. Basically, all employer group sponsored health plans are subject to ERISA laws and documentation requirements.
What are those requirements and what do you do about them?
COBRA? Don’t get bit by this snake! Employer groups with 20 or more employees for at least half of a calendar year, must comply with COBRA rules for their health insurance plans. The fines for non-compliance are steep, and the lawsuits about failure to comply with COBRA are almost always settled in favor of the employees. See more here.
Health Savings Account? If you have an HSA-qualified plan as an individual or as part of a group, you’ll want to take advantage of the benefits of a Health Savings Account to go with your insurance. The government details are available here.
To see how having this account could save you tax dollars while you’re saving money visit this link.
Need an agent out of Texas? Find one through the National Association of Health Underwriters.