By Ulla-Undine Merritt (Dee) National Producer Number (NPN) 8853366
The law under the Patients Protection and Affordable Care Act (PPACA) – (Obama Care) the Open Enrollment Period is November 15th to February 15th, those that enroll between November 15th to December 15th will have a January 1, 2015 effective date; Dec. 16th – Jan. 15th eff. Feb. 1, 2015; Jan. 16th – Feb. 15th Mar. 1st 2015. After that you will not be permitted to purchase health insurance that meets the government standards that avoids the tax penalty unless you have a special election period, please visit https://www.healthcare.gov for more information. The PPACA plans have no medical under writing; short term policies are still available but currently still require medical underwriting which means you might be turned down if you have pre-existing conditions, or that condition may NOT be covered if a reoccurrence may happen. I am finding that many people think that the Affordable Care Act is only for people that are seeking government subsidy and that is not correct. The law affects just about every type of health insurance in the USA.
In order to qualify for government subsidy you need to go through the Market Place or if the Insurance Carrier offers seamless applications through their platform it can be done that way as well. To see if you qualify for tax credit you can check the IRS website at http://www.irs.gov/uac/The-Premium-Tax-Credit. If you do not qualify for subsidy you can still purchase your plan through the Market Place or the Insurance Company both available with the help of a local agent by adding their name and National Producer Number (NPA).
If you have an insurance policy for many years and drop that plan you will not be able to get it back as the plan will no longer exist to be re-purchased. Some insurance carriers are allowing their policy holders to keep their current plan, others have issued cancel notices. Before you cancel what you have make sure that you check to see if your doctors are in network as this has been a big problem in 2014 with people not being satisfied and also totally understand the plans “Summary of Benefits”. Cost is important but not only the cost of the plan you choose but also make sure you can afford the out of pocket cost when you need to use the plan, sometimes raising the premium a little it may make it easier to visit the doctor more often as needed. Qualified High Deductible Health Plans (H.S.A.) plans also have a tax advantage. You need to do the math, explain your needs both health and financially with a licensed insurance agent. Check to see how many companies they represent, if they only represent one ok guess what you get? There are a lot more choices in 2015, so doesn’t just stay with you have check it out, if what you have turns out to be the best great. Remember you can make as many changes as you need up until February 15th, 2015 for the 2015 Plan Year. You don’t like what you choose in January, change it!
There is a lot to know and I would recommend that you work with a licensed insurance professional that is Market Place Certified that can help you through the enrollment process and explain the different insurance policies available to you in your area.
To learn more about Health Care Reform or schedule an appointment contact:
Dee Merritt – Logical Insurance Solutions at 239-362-0855 or visit www.Logicalinsurance.com.