Hi everyone, I’m so excited to post this video on YouTube after a long summer break So I will give you the health insurance industry update for year 2020. I will touch base on open enrollment dates Legislation change rules and penalty men dead in California and so on So please stick around and follow and like me on social media Let’s just start with the fact that so-called Obamacare or the Affordable Care Act was not revealed What happened is the penalty for not having health insurance was repealed for year? 2019 this is also referred to as individual mandate, but in year 2020 the penalties back in the state of California the other provisions of the law Unchanged the open enrollment is still enforce the subsidies or tax credits are still available for year 2020 in fact, there are more subsidies available in the state of California The pre-existing condition is still not a consideration at least not at the time of recording this video now Even with the penalty coming back next year in California It’s up to you if you want to get health insurance or pay money to state uninsured but keep in mind if you do not apply for a health plan during open enrollment you Might not get a chance to have major health insurance for year 2020 at all Unless you have a qualifying life event during the next year, so When researching the open enrollment to buy health insurance Make sure to look at your specific state all states have their own enrollment periods the federal 2020 open enrollment period runs from November 1st 2019 to December 15 2019 plans sold during this time have an effective date of January 1st 2020 in California we have it our own way always so California has its own open enrollment so for 2020 coverage California resin we’ll be able to enroll in health insurance plan starting on October 15 2019 and will have until January 15 2022 enroll This rules apply to both on and off exchange lens now I have to mention that Assembly Bill 1309 a boiler con I think I hope I have said it right currently under consideration by the state legislature if passed it would extend the open enrollment through January 31st 2020 again in California, the individual mandate penalty will be enforced next year. It will be very similar to the federal penalty and Last year and we’ll have a separate video on this topic for now just keep in mind that the penalty will be either 2.5 percent of your adjusted gross income or 695 dollars per adult and 347 for a child under the age of 18 at the same time the new state subsidy program will be implemented in California and this will allow middle-class to pay Much less for their health insurance on top of it many insurance companies expanded their Footprints and have the lowest rate increase I’ve ever seen So this is kind of exciting news for details of specifics Please feel free to reach out directly or see the resources in the description of this video Again plan ahead. It’s up to you whether or not you decide to play a fair game and Minimize your financial risk by having health insurance Oh going broke in case you have an accident or health issue and you don’t have Coverage so you have to pay the big bucks Remember even a high deductible plan safeguards you in case of an unplanned medical expense Unless you understand this you won’t be able to make an educated decision So, please understand You know, you can’t order your health on Amazon and you can’t buy happiness But you can buy health insurance to drink open enrollment and this is kind of a big deal anyways, if you found this video useful, please like share and subscribe And comment feel free to follow us everywhere We on social media If you have a specific question or need help finding a health insurance plan, please feel free to reach out to us We are a California licensed insurance agency And we do not charge for our services again. This is kind of a big deal. Did I mention we love helping people? Please spare one second of your time and Like us thank you for watching and I’ll be back