The Massachusetts Division of Insurance has issued an important reminder about the new mandatory health insurance rules that apply to Massachusetts residents. Two important dates are July 31, 2007 and December 31, 2007.
"Many new health plans will be available by July 1, 2007. If you enroll in an individual plan between May 1 and July 31, 2007, your plan will even cover illnesses you may have on your policy’s effective date. There is NO waiting period OR pre-existing condition provision. If you are currently uninsured and previously avoided getting insurance due to pre-existing condition provisions**, you now have an opportunity to obtain coverage". The special open-enrollment period is available only until July 31, 2007.
"PENALTIES FOR UNINSURED RESIDENTS
If you do not have health insurance by December 31, 2007, you will face a tax penalty. For the 2007 tax year, this penalty is the loss of your personal exemption (a tax savings for you). In later years, it could add up to 50% of the amount of the lowest price health insurance plan currently offered."
Click here for the link to Massachusetts Division of insurance Open Enrollment help page
** this may be the case with people who have physical injuries or sickness
underlines and highlights added for emphasis.
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