As the deadline to enroll in an individual or family health insurance plan rapidly approaches, we wanted to take a moment to remind you of what you need to do.

The deadline for health insurance Open Enrollment is January 31. You must sign up for a healthcare plan, or you might miss your chance for the rest of the year (more on that in a moment). And, since California now enforces its own statewide version of the Individual Mandate, you might be subject to a penalty if you don’t have healthcare coverage in 2020.

This deadline applies to individual and family healthcare plans only. It does not apply to Medicare plans, or to group health insurance plans (those offered by an employer).

What you should do during Open Enrollment. Contact your health insurance professional for help with comparing different healthcare plans available in your area.

You might qualify for a subsidy to help with the cost of your premiums. Make sure to provide the appropriate financial information so that your subsidy can be calculated.

Or, if you already qualify for a subsidy, you should update your financial information to ensure that your subsidy can be recalculated for 2020.

If you like your current plan and want to keep it, review the details to be sure it’s still a good fit for you. Sometimes changes in coverage occur from one year to the next, and you shouldn’t assume that your plan will continue to fit your needs perfectly.

In some cases, you can enroll in a healthcare plan outside of Open Enrollment. If you experience a qualifying life event, such as a move or change in family structure, you can enroll in a plan or change to a different plan outside of the usual Open Enrollment window. However, since you can’t count on one of these events occurring, it would be wise to go ahead and enroll now.

Remember, the deadline for health insurance coverage is January 31, so get started today. Give us a call and we can help you determine the next steps you should take.