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Getting Kynect Coverage – Having health coverage is now a requirement of the law. You need to have a minimum amount of coverage that will provide ten “essential benefits” including doctor visits, trips to the emergency room or hospital, care for children and pregnant women, preventative care, and substance abuse treatment.
All of the insurance plans offered through Kynect, Kentucky’s health coverage service, will provide all of these benefits. However, insurance plans that are not offered through the system may not actually have all of these benefits.
Paying for Kynect – When you are paying for your healthcare coverage through an insurance company you choose with Kynect, you will pay the company directly, just as you would with any other type of insurance company. It’s important to keep up with the payments so there is no lapse in the coverage, and so it is not canceled. Keep in mind that if you do not have insurance coverage, you will need to pay a penalty. The penalty cost for 2016 will be $695 per adult and $347.50 per child. Some people may be able to get an exemption from the penalty for hardship or religious conscience, but they will need to fill out an exempt application.
In some cases, you and your family may qualify for assistance paying for the healthcare coverage. It will depend on how much money you make. You will need to fill out a short prescreening questionnaire that will determine whether you might be eligible for Medicaid or one of the other programs that can offer free care. Even if you do not qualify for Medicaid, you might still qualify for lower payments depending on your financial and household situation. It’s always a good idea to check to see if you are eligible.
Many individuals and families will want to renew their Kynect insurance so that the plan will carry over into the following year. Most of the time, the plan will automatically renew, so you will not have to do anything. You will simply keep paying as you normally would and you will still have access to the same plan.
However, if you decide that you do not want to keep the plan that you have, you can change it during the normal enrollment period. You will not have to stay locked into the same plan forever. For example, you might find a plan that you feel offers better coverage or that is priced lower.
Kynect Special Enrollment
If you do not want to reenroll in the health insurance coverage that you have outside of the marketplace currently, you will qualify for special enrollment, which will begin 60 days before your current insurance plan ends. You could also qualify if there is a life-changing event in your life, such as a birth or a death in the family. This is an enrollment that occurs outside of their normal enrollment period – November 1 through January 31st. You can qualify for the enrollment when your plan is up for renewal. At that point, you will be able to choose your new coverage, which will start the day after the coverage you have now ends.
It’s always best to enroll as quickly as possible, so you do not have any lapse between coverage. However, if you have insurance through your employer, you will not qualify for the special enrollment. Health coverage is not only the law, it is vital for the health and safety of you and your family. Kynect makes it easy for Kentucky residents to get the help they need. Having health coverage is now a requirement of the law. You need to have a minimum amount of coverage that will provide ten “essential benefits” including doctor visits, trips to the emergency room or hospital, care for children and pregnant women, preventative care, and substance abuse treatment.
Kynect Health Plans & Networks
Kynect offers a number of different types of plans and tiers for residents in search of quality healthcare. When residents go to their site, they will be able to see all of the possible coverage options after submitting just a single application.
All health plans that are a part of the Kynect network need to cover a certain number of “basics”. They are called Qualified Health Plans, or QHPs. All of the plans have to have the same ten essential health benefits, at a minimum. They include hospitalization, emergency care, doctor visits, maternity and newborn care, pediatric care (including dental and vision), prescriptions, medical tests, mental health care and substance abuse, physical, speech and occupational therapy, and wellness. Click here for more for more health plan information.
Kynect Financial Assistance
Many families and individuals who are living in Kentucky may have trouble paying for their insurance. Still, having health coverage is a requirement. Fortunately, you can find several different options to help pay for this coverage so it is not as much of a financial burden.
Before you can receive any help with paying for healthcare, you need to make sure that you qualify. You will need to go through the prequalifying system through the Kynect.ky.gov site. When you go through the system, they will ask you several questions about your current financial status, such as the number of people in the household and their ages. It’s a relatively fast and simple process, and it is entirely secure. In addition they will not keep any of the answers to your financial questions on file. It’s important to note that this step in the process is not the actual enrollment. Instead, this is simply a step to attempt to qualify for financial assistance for when you do enroll. This process takes just a few minutes, and you can do it entirely online. Click here to learn more about Kynect financial assistance.
kynect Tax Information
If someone in your household, you or a family member, enrolled in Kynect in 2015 and had healthcare coverage, it could affect your income taxes. If you received any assistance to help pay for your health coverage, you will receive a 1095-A form. This is the Health Insurance Marketplace Statement. If that’s the case, you will need to file form 8962 with the IRS. The 1095-A form will report the assistance received, and the months that you had coverage. With the information provided on this form, you will fill out your 8962 when you file your federal taxes. Those who receive financial assistance to help them pay for their health coverage are required to file a tax return. The government uses this to determine that you received the proper amount of assistance. Keep an eye out for this form in the mail. It will arrive in a blue envelope. Click here to learn more about Kynect tax information.
Understanding your Kynect Coverage
Getting health insurance, whether it is the first time you are getting insurance, or you are merely switching plans, can be a confusing time. This is particularly true with all of the changes that have been made in recent years due to the Affordable Care Act. It is very important for residents of Kentucky to understand the Kynect system and the healthcare plans they choose. This will ensure that they have exactly the coverage they need and that they will be able to afford the plan.
There are many different types of plans, and they all work a bit differently. It is important to check with the insurance company to understand everything you need to know about the plan. For example, you will want to know what your copayments will be for doctor visits. What is the cost of out of network copayments? How much will prescription drugs cost? Will you have any limits on specialized services? What will it cost to go to the emergency room? Make sure that you ask all of these questions, and any others that you might have, when you are choosing your plan. Click here to read more.
Kentucky Children Health Program
Keeping your children healthy is extremely important to all parents, but sometimes the costs of getting quality health coverage can be prohibitive. Many families simply have trouble making enough money to make ends meet, and the added costs of health insurance on top of this are too much. Fortunately, Kentucky has an option for those families who have children and who need some extra help.
The Kentucky Children’s Health Insurance Program (KCHIP) is a low cost, or free in some cases, health insurance program for children who are 19 and under who do not have health coverage. If the children are in families that have annual incomes of less than 213% of the federal poverty level, they are eligible for this program. In this case, children are considers the natural children, stepchildren, and adopted children that reside in the home. Learn more about Kentucky’s Kynect Children program.
Small Business Enrollment
In Kentucky, no small business is required to provide insurance coverage. Those companies that have 50 or fewer people will not face any penalties if they do not have insurance coverage for their workers. If the small business has 25 or fewer employees, they may actually be able to benefit from tax credits through Kynect, which can help to cover the cost of the insurance. Those businesses that have 50 or fewer full-time employees (or full-time equivalent) will be able to enroll through Kynect SHOP. To learn more about SHOP click here.
Small Business Tax Credits & Requirements
Small businesses that want to participate and provide healthcare coverage to their employees will need to meet certain requirements. One of the benefits of going through SHOP, the Small Business Health Options Program, is that it does not have a fixed open enrollment period. The employers will be able to set their own open enrollment period any time of the year they wish. In addition, you may be able to have your company qualify for small business tax credits, which can help you save on the overall cost of providing healthcare coverage for your employees. Click here for additional information.
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