Individual Mandate Extended To 2016

The Individual Mandate was delayed in 2013 when the Department of Health & Human Services issued a memo on December 19, 2013.  In This memo compliance with the individual mandate was extended until October 1, 2014.

The Health & Human Serivces published another memo on March 5, 2014 which stiuplates that the extension outlined in the December 19, 2013 memo will be further extended another 2 years (to Octobe1, 2016).

The December 19, 2013 memo stipulates you have the following options if your health insurance policy has been cancelled:

- You have the chance to buy any of your health insurance issuer’s individual market policies available to you in 2014.

- You may shop for coverage through the Health Insurance Marketplace (the Marketplace). Depending on your income and other factors, you may be eligible to receive a premium tax credit that will help cover the cost of purchasing coverage through the Marketplace or cost-sharing reductions for Marketplace coverage. You may also be eligible for Medicaid.

- You can also shop for policies outside the Marketplace. This is a good option if you do not qualify for premium tax credits or cost-sharing reductions based on your income. If you do qualify for premium tax credits or cost-sharing reductions, you can only get such assistance if you enroll through the Marketplace.

The December 19, 2013 memo also provides a hardship exemption:

 If you have been notified that your policy will not be renewed, you will be eligible for a hardship exemption and will be able to enroll in catastrophic coverage. If you believe that the plan options available in the Marketplace in your area are more expensive than your cancelled health insurance policy, you will be eligible for catastrophic coverage if it is available in your area.  In order to purchase this catastrophic coverage, you need to complete a hardship exemption form, and indicate that your current health insurance policy is being cancelled and you consider other available policies unaffordable. You will then need to submit the following items to an issuer offering catastrophic coverage in your area: (1) the hardship exemption form; and (2) supporting documentation indicating that your previous policy was cancelled.

Sources:
memo on December 19, 2013
memo on March 5, 2014

By Owen Daniels