Fun Insurance Exchange facts

10 fun facts

After Nevada received federal approval to run its own health exchange under the Affordable Care Act, it has a website about the program up and running. Here are some quick facts from the site.

1. Approximately 25 percent of Nevadans under 65 are without health insurance.

2. Enrollment in the exchange starts in October 2013.

3. Insurance coverage begins Jan. 1, 2014.

4. If you are on Medicare, it will not affect your current benefits.

5. If you have a pre-existing condition, you can get insurance on the exchange.

6. Individuals will be penalized on an annual basis if they don’t have health insurance: 2014—$95 or 1.0 percent of income; 2015—$335 or 2 percent of income; 2016—$695 or 2.5 percent of income

7. The state of Nevada has received $74.8 million federal grant to establish the exchange.

8. The exchange is being led by Jon Hager, former chief financial officer for the Nevada’s Public Employees’ Benefits Program. While there, Hager was responsible for all aspects of the $476 million annual budget, which served 72,000 state and local government employees, retirees and dependents.

9. The first open enrollment period is October 2013 through March 2014. If one doesn’t get insurance by then, they will have to either purchase insurance through an outside company or wait until the next open enrollment period which is Oct. 14 through Dec. 7, 2014. No health insurance will mean paying a penalty that is a percentage of your income.

10. Find out how to get covered before the penalty hits by going to -Tracie Douglas