Covered California is a state health insurance exchange that allows individuals or small businesses to find the ideal health insurance that fits their needs and budget. In 2021, Californians need to be aware of two crucial facts: individual health mandate in California and more financial assistance. All Californians must maintain health insurance in 2021. Anyone who doesn’t have insurance coverage will get fined at the state level just like 2020. California is also expanding subsidies, which will help middle-class people to pay their health care quickly. This new development will lower health insurance costs for about 919,000 Californians. With knowledge of this new development, how do you enroll, what are the various plans and who’s eligible? This guide will provide an answer to all your questions.
Enrolling in Covered California
Enrolling in this program is very easy. You can do that online, over the phone, or in person. Enrollment takes less than 30 minutes, provided you have the required documents.
Here are some required official papers to finalize the registration.
- Your Social Security Number
- Employer and salary information
- For immigrants, an immigration certificate is mandatory
- Most recent federal tax return
If you’re applying online, this site will guide you through the process. It will ask how frequently you need medical services and a few medical questions; this is to help provide alternatives that would be an ideal option for you. Open enrollment for Covered California is straightforward and can be completed within a short time with little or no assistance.
Covered California Open Enrollment
Unlike other states, Covered California tends to run for a longer time. Open enrollment for California runs until January 31, 2021. Note that if you don’t have an insurance plan in 2021, you will be subject to a penalty of about $2,000 or more. Making sure you beat the deadline is paramount. After you have successfully enrolled, further changes are only possible when faced with life events like divorce, losing a spouse, or when about to move. Aside from that, you can only make changes during the open enrollment.
Types of Covered California Plans
Just like other health insurance, Covered California categorizes its insurance plan, mainly centered on costs. Each insurance plan has a certain percentage of what it offers. Below are the four levels Covered California offers.
- Bronze – This health insurance plan pays only 60%, thereby requiring the member to pay 40% of health care costs.
- Silver – This plan pays 70% of healthcare costs, while the member pays 30% for healthcare.
- Gold – This plan covers 80% of healthcare costs, leaving the member to pay 20% of the cost.
- Platinum – This plan pays 90% of healthcare costs, while the member pays 10% of the price.
You Might Be Eligible for Subsidies Through Covered California
According to Covered California, about 90% of their members are suitable for financial assistance, which will help them settle their insurance coverage. If your household income is between 138 percent and 400 percent of the federal poverty level, you might be eligible for a tax credit that would help reduce the cost of your monthly premium.
Would you like to speak with a Covered California agent? Skyline Benefit Insurance is a Covered California certified agency with a team of Covered California agents. For more information about our insurance services, or if you have any questions about Covered California, you can contact us at (714) 888-5116 or make a virtual consultation appointment today.