January 31, 2016 is the last day to apply for a health insurance policy for yourself or your family. After that day, you will not be able to apply for a health insurance plan until November 2016 unless you have what the government calls a Special Enrollment Period, or SEP. If you want to get a health insurance plan in place for 2016, you’d better hurry.

The penalty for not having a plan in place for three or more months can be quite substantial. During the first two years of ObamaCare (2014 and 2015) the penalties were rather low and manageable. The penalty is now quite high. If you are uninsured for all of 2016, have a household income of $75,000 and you live in Arizona, you are married and have three children under the age of 18, your penalty would be $2,085.

Granted, that penalty may only amount to around two months premium payments. So you may think you’d be better off financially by paying the penalty. But you absolutely must take into account the possibility that someone in your family might become hospitalized. Here in Arizona, at an HonorHealth hospital, the estimated average cost for a broken femur repair is $89,750.40*. If your gall bladder needs to come out, the average cost at HonorHealth is $49,523.50*. So going without a health insurance policy could end up costing you a lot more than a penalty from the US Government.

Contact us and we can show you all of the different health insurance plan options available to you. Depending upon where you live in Arizona, your options may be somewhat limited because not all health insurance companies that offer plans in Arizona make their plans available everywhere. For example, Cigna, one of the largest health insurance companies in the world, does not offer their ObamaCare plans in Tucson. Neither does Aetna. Even Blue Cross Blue Shield of Arizona offers some plans in Maricopa county that they don’t offer anywhere else in Arizona.

Call us from anywhere at (800) 600-9663 or ask us to email rate quotes to you by filling out the short form located here.

* See average medical costs at HonorHealth.

Author: Tony Lehrman
Founded by Tony Lehrman in 1988, Lehrman Group serves the health insurance needs of individuals and families, small and large businesses, franchises, governments, municipalities and institutional clients throughout Arizona. Lehrman Group maintains leadership positions in the Arizona health insurance marketplace.