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Open enrollment deadline for purchasing health insurance fast approaching

Individuals and families seeking to purchase health insurance coverage via the federal and state health exchanges set up under the Affordable Care Act have until March 31st to do so. That is the date when the open enrollment period for health insurance ends. People without insurance after that deadline will be required to pay a fine of $95 per adult and $47.50 for a child. Families could face a fine of up to $285 or 1% of their annual income whichever is greater if they do not have health insurance after March 31st.

The fines will increase each year that an individual or family remains without health insurance. In 2016, the penalty will increase to $695 per adult or 2.5% of annual income whichever is greater. The earliest opportunity to purchase health insurance coverage from private insurers after the March 31st deadline will be November 1, 2014 when the next open enrolment period starts.

If you live in Eagle, Idaho or nearby communities and are still looking for health insurance, consider using Access First Insurance LLC’s Marketplace Quotes & Purchases platform. The platform provides an easy and convenient view for you to search for insurance, get a quote, compare options and choose a plan that fits your requirements. Contact the insurance specialists at Access First Insurance for more details.