Time is running out for Californians to sign up for health insurance through Covered California. The open enrollment period for 2025 health plans ends on Friday at 11:59 p.m., and after that, you won’t be able to get coverage unless you experience a major life change like losing your job or aging off your parents’ insurance.
This year, Covered California has already set a new record with over 1.9 million people signing up for health coverage. This includes 299,060 people who are signing up for the first time, showing a 13% increase from last year. It also includes 1.6 million people who have renewed their plans for 2025, which is a 10% increase compared to last year.
Why Is Everyone Signing Up?
The main reason for the big increase in sign-ups is the financial help available to Californians who qualify. Thanks to the state’s partnership with the federal government, more people are getting assistance to help pay for their health insurance. Almost 90% of Covered California members are receiving financial help. In fact, two-thirds of these members are able to find a plan that costs $10 or less per month.
What’s more, if you earn more than 200% of the federal poverty level — which means earning at least $30,120 as a single person, or $62,400 for a family of four — you might be eligible for subsidies to help lower the cost of your health insurance.
What Happens if You Miss the Deadline?
If you don’t sign up for health insurance by the end of the open enrollment period, you will face a penalty at tax time unless you qualify for a special enrollment period due to a major life event. For example, losing your job or turning 26 and aging off your parents’ plan would allow you to sign up later in the year.
The penalty for going without insurance for the entire year can be significant. For each adult in the household, the penalty starts at $900, and for each child under 18, it’s $450. So, for a family of four that doesn’t have coverage, the penalty could be as much as $2,700.
Medi-Cal: Free Coverage Option
If you don’t qualify for a subsidized plan through Covered California, you may still be eligible for Medi-Cal, California’s free or low-cost health insurance program. Currently, 675,000 people in California are eligible for Medi-Cal but have not yet signed up. If you think you may qualify, it’s a good idea to check your eligibility and enroll before the deadline.
How to Enroll:
If you still need to sign up for a health plan, you can do so by visiting Covered California’s website at coveredca.com or by calling (800) 300-1506. There’s still time, but don’t wait too long!
Remember, the deadline is Friday at 11:59 p.m. After that, you’ll need a special reason to sign up, and you may face costly penalties if you stay uninsured.
(Source : newsbreak.com)
