Hi everyone, I'm so excited to post this video on YouTube after a long summer break
So I will give you the health insurance industry update for year 2020. I will touch base on open enrollment dates
Legislation change rules and penalty men dead in California and so on
So please stick around and follow and like me on social media
Let's just start with the fact that so-called
Obamacare or the Affordable Care Act was not revealed
What happened is the penalty for not having health insurance was repealed for year?
2019 this is also referred to as individual mandate, but in year
2020 the penalties back in the state of California the other provisions of the law
Unchanged the open enrollment is still enforce the subsidies or tax credits are still available for year
2020 in fact, there are more subsidies available in the state of California
The pre-existing condition is still not a consideration at least not at the time of recording this video now
Even with the penalty coming back next year in California
It's up to you if you want to get health insurance or pay money to state uninsured
but keep in mind if you do not apply for a health plan during open enrollment you
Might not get a chance to have major health insurance for year 2020 at all
Unless you have a qualifying life event
during the next year, so
When researching the open enrollment to buy health insurance
Make sure to look at your specific state all states have their own enrollment periods the federal
2020 open enrollment period runs from November 1st 2019 to December 15
2019 plans sold during this time have an effective date of January 1st 2020 in
California we have it our own way always so California has its own open enrollment so for 2020 coverage
California resin we'll be able to enroll in health insurance plan starting on October 15
2019 and will have until January 15 2022 enroll
This rules apply to both on and off exchange lens now
I have to mention that Assembly Bill 1309 a boiler con
I think I hope I have said it right currently under consideration by the state legislature if passed it would extend the open enrollment
through January 31st
2020 again in California, the individual mandate penalty will be enforced next year. It will be very similar to the federal penalty and
Last year and we'll have a separate video on this topic
for now just keep in mind that the penalty will be either 2.5 percent of your adjusted gross income or
695 dollars per adult and
347 for a child under the age of 18 at the same time the new state subsidy program will be implemented in
California and this will allow middle-class to pay
Much less for their health insurance
on top of it many insurance companies
expanded their
Footprints and have the lowest rate increase I've ever seen
So this is kind of exciting news for details of specifics
Please feel free to reach out directly or see the resources in the description of this video
Again plan ahead. It's up to you whether or not you decide to play a fair game and
Minimize your financial risk by having health insurance Oh going broke in case you have an accident
or health issue and you don't have
Coverage so you have to pay the big bucks
Remember even a high deductible plan safeguards you in case of an unplanned medical expense
Unless you understand this you won't be able to make an educated decision
So, please understand
You know, you can't order your health on Amazon and you can't buy happiness
But you can buy health insurance to drink open enrollment and this is kind of a big deal
anyways, if you found this video useful, please
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If you have a specific question or need help finding a health insurance plan, please feel free to reach out to us
We are a California licensed insurance agency
And we do not charge for our services again. This is kind of a big deal. Did I mention we love helping people?
Please spare one second of your time and
Like us thank you for watching and I'll be back