3 things you should know about 2016 open enrollment

DELRAY BEACH, Fla., Sept. 30, 2015 /PRNewswire-USNewswire/ -- Fall is in the air, our mornings and evenings are cooling down and health insurance open enrollment is upon us.

"This year's open enrollment will be one of the most tumultuous ever, as some of the most arduous health care reform requirements kick in for employers, and insurance companies raise premiums on individuals to be more in line with their expenses," said Jim Jalil, of HealthCareForYouNow.com D.B.A. Access Medical Health Group.

Here are three things to know as you prepare for open enrollment in 2016.

1. Enrollment Period

This Year:

2016
Open Enrollment Period is November 1, 2015 – January 31, 2016.

• Enroll between November 1, 2015 - December 15, 2015 start with a January 1, 2015 effective date.
• Enroll between December 16, 2015 - January 15, 2016 start with a February 1, 2016 effective date.
• Enroll between January 16, 2016 - January 31, 2016 start with a March 1, 2016 effective date.

Previous years

2015 
Open Enrollment Period is November 15, 2014 – February 15, 2015.

2014 
Open Enrollment Period is October 1, 2013 – March 31, 2014.

2. New Out of Pocket Limits

This Year

2016
The maximum out-of-pocket cost limit for any individual Marketplace plan for 2016 can be no more than $6,850 for an individual plan and $13,700 for a family plan

Previous years

2015
The maximum out-of-pocket cost limit for any individual Marketplace plan for 2015 can be no more than $6,600 for an individual plan and $13,200 for a family plan

2014
The maximum out-of-pocket cost limit for any individual Marketplace plan for 2014 can be no more than $6,350 for an individual plan and $12,700 for a family plan

3. The Penalty for Not Having Coverage is Going Up

This Year

The fee for not having coverage in 2016

If you don't have coverage in 2016, you'll pay the higher of these two amounts:

• 2.5% of your yearly household income. 
• $695 per person for the year ($347.50 per child under 18).

Previous years

The fee for not having coverage in 2015

If you don't have coverage in 2015, you'll pay the higher of these two amounts:

• 2% of your yearly household income. 
• $325 per person for the year ($162.50 per child under 18).

The fee for not having coverage in 2014

If you didn't have coverage in 2014, you'll pay the higher of these two amounts:

• 1% of your yearly household income.
• $95 per person for the year ($47.50 per child under 18).

With all the changes in 2016 open enrollment, from when you can enroll into a plan to what your out of pocket limit is or what penalty you will have to pay for not having coverage. We believe more than ever customers start compare their options sooner than later.

HealthCareForYouNow.com is a leader in bringing innovation to the personal insurance industry. We strive to exceed our customers' expectations by providing un-biased recommendations and high quality service. We have cutting edge technology, which allows us to provide our members the ability to compare all of their options. This gives our members the most up to date tools to make the best decision on the plans that fit their specific needs and budget.

Logo - http://photos.prnewswire.com/prnh/20150224/177661LOGO

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/3-things-you-should-know-about-2016-open-enrollment-300150982.html

SOURCE HealthCareForYouNow.com