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My Employer Does Not Offer Coverage- How Can I Buy Health Insurance For My Family?

It’s important to know that in the coming months, certain employers will be required to provide health insurance to their employees. This is applicable beginning in January of 2015 for employers with 50 or more full time equivalent workers. If the business foregoes providing healthcare coverage, the company is subjected to a tax penalty. This is most often discussed using the term employer mandate.

Many other employers who are not affected by a tax penalty might decide that it’s better to avoid providing that coverage altogether because of the high cost of healthcare. They might try alternatives like a defined benefit plan, but this doesn’t really help you if you are looking for health insurance for you and your family. You may need to seek your own plan through a health insurance exchange.

Beginning in January 2014, it was mandatory for most individuals to obtain health insurance coverage or be subjected to a tax penalty. Over time, the penalties become more severe. There are people who are exempted from this penalty, but the majority of the people shopping on the healthcare exchanges are simply interested in finding an affordable and quality option for their families.

If you have not been able to get covered under your employer, it’s time to look at the health insurance exchange. While enrollment periods for 2014 have already passed (unless you meet the qualifications for a special exemption that allows you to enroll outside of this period), you can begin considering options for 2015 in November.

The health insurance exchanges are sponsored by each state with the overarching goal of providing a one-stop shop for all of your healthcare needs. Easily logging on to a website gives you full access to a range of plans that suit your needs. With prohibition of denials for coverage based on pre-existing conditions and required stipulations regarding what kinds of services must be covered in a plan, you’ll have much less to worry about when seeking your coverage through a health insurance exchange.

The exchange breaks it down so that you can see exactly what you’re getting in terms of cost, deductible, and plan benefits. For many people, they find that purchasing coverage outside of the employer gives them the option to select the most appropriate plan for their own needs in a convenient manner.