Health insurance for 2 months,

[Zoe Girl]

IN changing jobs there are so many details! I signed up for my new insurance which will start October. Meanwhile my old insurance ended July 30th. I have the option of buying insurance at about $350 a month for the 2 months, and I have until a date in October to decide. It will be retroactive if I choose that and pay. So I could just wait and see if I actually need anything before my new insurance kicks in and then pay the premium. So far I did pay for one prescription out of pocket for $100, my prescriptions are current if I run out I just may need to pay more.

I feel like I am missing something in this decision, like if there is some type of penalty still for not having insurance or was that changed with taxes. That would be important in deciding.

[Teacher Terry]

Yes there is a tax penalty for going without insurance.

[Alan]

Yes there is a tax penalty for going without insurance.
With the abolition of the individual mandate the penalty goes away in a few months, it still applies to 2018 but will not for 2019. But even with that you are exempt from the penalty for 2018 if your gap in coverage is less than 3 months.
Based upon Zoe Girl's statements, she would incur no penalty.

[Teacher Terry]

That’s great news!

[Float On]

Yes there is a tax penalty for going without insurance.

But paying 2 mts penalty on taxes is still not as much as the premium would be for 2 months.
It's a pretty cool option that you don't have to buy it unless you needed it. I guess if your expenses total more than $700 I'd pay for Aug/Sept in Oct.

[iris lilies]

I had to prove continuous coverage to get an ACA plan. Was that exclusively to assess a penalty? Can they deny me coverage for not having continuous coverage?

I dont know and did not want to screw around with it.

Zoe, what if you lose your job, that has to be considered here.

[Yppej]

Even in Massachusetts you can have a gap of 4 months and not incur a penalty on your state income taxes, and our Romneycare was the stricter inspiration for Obamacare.

[Zoe Girl]

Good point Iris, I have the vacation payout to take care of these types of things. And I am going to call and see if I can get that $100 back for the prescription I paid full price for.

I am very glad that the deadline is nice and long, I don't feel pressured.