Deadline looms to buy Health Insurance, Midnight Tonight

If you haven’t yet purchased health insurance, you have until midnight tonight if you want coverage to begin January 1.

It’s all part of the requirements of the Affordable Care Act.  And for those who don’t buy insurance, penalties will be going up in 2016.

As of last week about 229,000 people in Georgia had purchased insurance through the federal exchange at healthcare.gov and you can also receive information and help signing up by calling 1-800-318-2596.

While there continues to be controversy about the affordable care act, it’s expected about ten million people may sign up by the midnight deadline.  Again, that is for continued coverage (if you’re already an exchange customer) or coverage to begin January 1.

If you do not have health insurance, you can still avoid paying the penalty by signing up by January 31. (In this case your actual coverage won’t start until about March.)

The penalty in 2016 is increasing from $325 per person to $695. Officials say in many cases, that’s more than the yearly cost of basic plans many can find on the website.

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