Updated 12/23/2013 By

Obamacare 101: Important Dates For Those Buying Health Insurance in 2014

The Administration has recently extended the deadline for everyone to buy insurance in 2014 in order to avoid tax penalties for lacking minimum standard coverage.

Here are some key dates to remember:

October 1st, 2013 - the beginning of open enrollment for 2014 health plans (this hasn't gone so well).

December 24th, 2013 - "New" last day to apply for a health plan that will start on January 1st, 2014.

December 31st, 2013 - last day to pay for a health plan that will start on January 1st, 2014. (Some insurance companies will allow payment into the second week of January).

January 1st, 2014 - first day of coverage for all new plans purchased through state and federal exchanges

January, 31st 2013 - new expiration date for high-risk health plans which pay for expensive drugs and treatment for chronic diseases. Because of the problems with the exchanges, some patients were at risk of losing coverage for treatment that ca cost over $100,000/month, in the case of hemophiliacs.

March 31st, 2014 - last day to enroll in a health plan and avoid the penalties under the individual mandate of the ACA.

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