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To our policyholders in areas affected by the recent hurricanes, please know that the thoughts and prayers of everyone at Aflac are with you. We are working with government agencies that represent all declared disaster areas to ensure we do everything possible to help you. Based on that guidance, we have extended the due dates for policy premiums by 60 days for those living in places that have been declared disaster areas. If you have a question about your policy or need help, contact us at 800-992-3522. To help with the recovery, Aflac made a $500,000 donation to the American Red Cross, and our employees are making their own private contributions. Please be safe, as the care of you and your families is paramount.
Whether you’re the picture of health or have your doctor on speed dial, it’s important to understand how health care reform may affect you. If you’re uninsured, you’re not alone. In fact, even with health care reform, more than 11 percent of Americans still don’t have major medical insurance.1 We’ve outlined the key things you need to know and do to be sure you’re covered when you need it most.
The penalty is calculated on a monthly basis, so the fine will be 1/12 of the annual fine for each month an individual or family is uninsured.
1. If you're employed, request a notice of coverage options from your employer.
Most employers are now required to communicate to employees about health care coverage options, including those offered by the company and those available through your government marketplace. Most employers either provided this notice before Oct. 1, 2013 or within 14 days of hire, but if you haven't received one yet, it isn't too late. The notice will include information about whether you're offered job-based benefits and if you may be eligible for premium subsidies in the individual market.
2. Enroll in compliant coverage.
Whether you find coverage through a private insurer or government-facilitated marketplace, enroll in a plan that meets compliance standards to protect yourself from unexpected penalties. Be sure to get your questions fully answered during benefits enrollment, and choose the plan that fits your coverage needs and your budget.
3. Plan for out-of-pocket costs.
Don’t let the unexpected steer you off course. Take advantage of voluntary insurance options to help cover out-of-pocket costs not covered by major medical insurance. To learn more about voluntary insurance, visit: aflac.com/individuals.
To learn more about the health care reform, visit: aflac.com/healthcare_reform/individuals, healthcare.gov or irs.gov/uac/Affordable-Care-Act-Tax-Provisions-for-Individuals-and-Families.
This material is intended to provide general information about an evolving topic and does not constitute legal, tax or accounting advice regarding any specific situation. Aflac cannot anticipate all the facts that a particular employer or individual will have to consider in their benefits decision-making process. We strongly encourage readers to discuss their HCR situations with their advisors to determine the actions they need to take or to visit:healthcare.gov (which may also be contacted at 1-800-318-2596) for additional information.
1 Gallup (2015). In U.S., Uninsured Rate Sinks to 11.4% in Second Quarter, accessed on September 30, 2014, from http://www.gallup.com/poll/184064/uninsured-rate-second-quarter.aspx..