The Centers for Medicare and Medicaid Services (CMS) declared on the day of Wednesday that 12,395 Montanans have either bought health insurance for the 1st time or renewed their coverage since open enrollment began Nov. 1.
“[That’s] more than had signed up at this time previous year,” stated Department of Health and Human Services Secretary Sylvia Burwell.
Open enrollment for 2017 plans closes Jan. 31, 2017.
Individuals who opt out of insurance are hoped to face a tax penalty. For tax year 2017, uninsured people will see a fee of $695 or 2.5% of their income — whichever is higher, in accordance to healthcare.gov.
Returning shoppers have until the day of Dec. 15 to pick a plan before they are automatically re-enrolled in their current one, which might come with a new price tag. The cost of health insurance under the Affordable Care Act is anticipated to rise an average of 22% next year, according to the Obama administration.
But just a slice of Montanans will feel that increase because federal subsidies will also rise, relying on individual household incomes. That increase will impact about 80,600 Montanans on individual market plans, according to the state’s commissioner of securities and insurance.
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