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Category Archives: cost of health insurance

10 Tips You Need to Know About Health Reform (federal exchange marketplace)

You have questions and we have answers.  Because we value your time, we’ve quickly summarized the 10 things we believe you need to know to help you navigate health reform. For those who want a deeper look, access to a recording of our hour long webinar, a link is provided at the end of this post.

#1) On January 1, 2014 – All plans on or off the federal exchange marketplace will be guarantee issue with no exclusion of pre-existing conditions which means the insurance company cannot deny you for coverage and they can’t exclude any of your medical conditions.

#2) If you want a 01/01/2014 effective date, your broker will help you enroll in a plan between October 1-December 14, 2013.  Applications submitted on 12/15/2013-01/14/2014 will be effective 02/01/2014.

Marketplace subsidies available to those under 400 FPL

Marketplace subsidies available to those under 400 FPL

#3) The deadline to enroll in a 2014 health reform compliant plan, be it on the federal exchange or through the private market is 03/31/2014. If you miss this window, you will not be able to enter the system until 01/01/2015, unless you qualify for a special enrollment.

#4) Anyone making under 45,960 (single), $62,050 (couple) or $94,200 (family of 4) will receive federal subsidy to help you pay for your health insurance. If you are eligible for a subsidy, your broker will assists you in purchasing your health plan on the exchange marketplace and you will receive an immediate premium discount at the time of purchase, no extra forms, no waiting.

#5) If you are eligible for subsidy, you will buy your insurance on the federal exchange marketplace, with help from your broker.

#6) If you are NOT eligible for subsidy you will buy your insurance, with the help of your broker, OFF the federal exchange marketplace.

#7) All Americans will be required to purchase health insurance or pay a fine.

#8) You may keep your current plan but upon its renewal in 2014, it will be converted to a more costly Health Reform compliant plan.  Speak with your broker to determine if early renewal is right for you.

Community Rating Changes How We Are Charged for Health Insurance

Will my health claims affect my rate?

#9) The amount you pay for insurance will NOT be determined based on your health history.  Everyone of the same age, in the same zip-code, will pay the same amount. Except for smokers who will pay a lot more.

#10) Prices for 2014 plans are expected to cost significantly more than plans today due to Health Reform mandates.  The 2014 plans are richer plans, more robust than 2013 plans and therefore will cost more.

 

 

Before you take the next step you need to consider your health, age, income and current coverage options to determine if you should move quickly into a Reform compliant plan or take steps to delay your entrance into the world of Obamacare.

Feel free to call or email MyHealthQuoter.com, so that we can schedule a time to analyze your unique situation.

 

Some other resources for your review:

If you know anyone who has questions about Health Reform, please share this 2 minute animated YouTube video we created to help, http://youtu.be/-YUAPJssBOc

War Stories from Health Reform (Webinar Recording); www.anymeeting.com/myhealthquoter/EE55DD888747

Our website; http://www.myhealthquoter.com/ (A Private Health Insurance Exchange)

Our Blog; http://www.ohioindividualhealthinsurance.net/?p=625 (7 part Blog about Health Reform, among other things)

Facebook: http://www.facebook.com/pages/MyHealthQuotercom/31908081738?fref=ts

LinkedIn; www.linkedin.com/in/matthewsbyrne/

Twitter;  https://twitter.com/myhealthquoter

 

About The Author…

matt_81x106 Matthew Byrne has made a career helping people find affordable health insurance in Ohio. He is the founder of MyHealthQuoter.com, a Dublin-based brokerage providing health insurance quotes in Ohio, and additional services for individuals, families and corporations. Mr. Byrne is a subject matter expert speaking frequently about Health Care Reform, Defined Contribution Programs, COBRA, and Medicare. He can be reached at (614) 336-3636, and online at www.MyHealthQuoter.com.

Need a Health Reform Speaker? Find Matt on COPEC! http://copeceducation.org/speaker/Matthew.Byrn

How to Save Money by Navigating Health Reform: Next Webinar Fri 08/23/2013 at Noon.

We are hosting our monthly webinar on Friday, August 23rd, at 12 noon. I’d love for you to attend, it’s a great way to get a crash course in Health Reform!

Your Meeting URL  www.anymeeting.com/myhealthquoter1
Your Free Conference Call  Phone Number: 213-416-1560
Guest Access Code: 813 608 369

Ohio Health Quotes

How to save with health reform

If you know anyone who may benefit from this content, please forward this or share this link with a friend or on your facebook/twitter feed.
www.anymeeting.com/myhealthquoter1

“Mastering Obamacare: How to Save Money by Navigating Health Reform”
July 12th at Noon (Webinar)

No pre-registration required, just show up.

About The Author…

matt_81x106 Matthew Byrne has made a career helping people find affordable health insurance in Ohio. He is the founder of MyHealthQuoter.com, a Dublin-based brokerage providing health insurance quotes in Ohio, and additional services for individuals, families and corporations. Mr. Byrne is a subject matter expert speaking frequently about Health Care Reform, Defined Contribution Programs, COBRA, and Medicare. He can be reached at (614) 336-3636, and online at www.MyHealthQuoter.com.

Need a Health Reform Speaker? Find Matt on COPEC! http://copeceducation.org/speaker/Matthew.Byrn

Will congress defund health reform?

Defund or Delay? Don’t Count On It.

National Health Underwriters reports,

It’s been widely reported that when Congress returns from August recess, some Republican lawmakers hope to tie defundreform defundinging of health reform provisions to the overall federal government funding continuing resolution that needs to be passed by September 30. Many of these lawmakers have proclaimed defunding as their last and best hope to stop health reform implementation. As an alternative, some conservative groups have endorsed a one-year delay of all of the provisions of the law slated to take effect on January 1, 2014.

Not everyone in the GOP agrees. Many conservative thought leaders and political leaders, including Representative Paul Ryan, Senator Tom Coburn, Mitt Romney among others, have said they think the defunding plan is a bad one. Representative Tom Cole, who before being elected to Congress was a national GOP pollster and political operative, has even predicted that going forward with a defunding strategy could cost the GOP the House of Representatives in the 2014 midterm elections. Polling data bears that out—a recent health policy tracking poll shows that by a 2-1 margin voters say they will be less likely to vote for their member of Congress in 2014 if they support a health reform defunding effort tied to a government shutdown.

It’s important to know that the train has left the station.  Health Reform and 90% of its major provisions will spring to life on 01/01/2014. It’s important to get a game plan to determine how you will navigate health reform.  All politics aside, there are some critical decision (with potentially long term impact) that each of us must make this fall. Finding the right health insurance quotes in Ohio will take time and a clear understanding of where you fit into the system.

Here is a partial list of the provisions set to arrive in 2014.

  • All health products will be guarantee issue with no pre-existing condition exclusions.
  • No health status rating; ratings limited to
    • Age 3:1
    • Tobacco 1:5:1
    • Family Size
    • Geography (notice how your medical claims history and prescription use has no impact on how much you pay)
  • Health Insurance products must exhibit at least 60% “actuarial value”, must cover “essential health benefits”
  • Employer mandate (penalty delayed until 2015 but measurements for penalty will occur in 2014)
  • Individual mandate (all individuals are required to have health insurance, starting 01/01/2014)
  • Exchanges – an online marketplace where those eligible for federal subsidy will buy health insurance (starts 10/01/2013)

Many individuals are more comfortable with professional assistance when making decisions that involve detailed and confusing material.  Evaluating Health Reform coverage, federal subsidy money available and the complex enrollment on the exchange marketplace is unlike any other healthcare program you have evaluated in the past.  Mistakes can be costly.  This is why we developed our Health Advocate Program.

A Health Advocate will provide one on one consulting is designed to provide you the information and assistance you need as you navigate through all your options so you can confidently choose what is best for your personal situation.

About The Author…

matt_81x106 Matthew Byrne has made a career helping people find affordable health insurance in Ohio. He is the founder of MyHealthQuoter.com, a Dublin-based brokerage providing health insurance quotes in Ohio, and additional services for individuals, families and corporations. Mr. Byrne is a subject matter expert speaking frequently about Health Care Reform, Defined Contribution Programs, COBRA, and Medicare. He can be reached at (614) 336-3636, and online at www.MyHealthQuoter.com.

Need a Health Reform Speaker? Find Matt on COPEC! http://copeceducation.org/speaker/Matthew.Byrn

Where Does Your Health Insurance Dollar Go?

American dollar bill against black backgroundSome of you may recall a business report few years back (the Hewitt Health Value Initiative) that cited the ongoing rise in the annual healthcare cost per employee on a national average between 2005 and 2012. We all know that the cost of health care, and as a result, health insurance, has been rising steadily over the years. Especially with the advent of healthcare reform, there seems to be no slowing of the cost of care and coverage. Read More…

Leveling Insurance Premiums with Community Ratings: The Good News and the Bad

levelLast week, we talked about how the time for open enrollment is fast approaching—at which point those individuals who are presently “uninsurable” will no longer be declined coverage. This enrollment period begins October 1 for coverage to take effect January 1, 2014. We also mentioned how the structure of insurance rates will also change under the Patient Protection and Affordable Care Act (PPACA).

Under Obamacare, insurance premiums will be determined by something called “community ratings.” Read More…

Why is the Cost of Healthcare So High?

Pill bottle with cash inside BEThere are a lot of factors that have led to the rising cost of healthcare.  Even with health reform, intended to reign that in, it will probably be decades in the making before we completely solve that equation. However, one of the key factors that drives the cost of health care—and health insurance—is consumption.

How you access care is a huge factor in determining how much that care costs.  For example, if you go to ER or wait for your chronic illness to become acute before you seek treatment or help, that is going to put a huge burden of cost on the system. Indeed, it will cost much more to treat that illness later in the game (often with less desirable results) than it would have been had the illness been diagnosed and treated earlier. It’s the classic “cost of prevention” scenario. That’s why, in the effort to reign in control of the cost of healthcare, there is such a focus on wellness and prevention. Read More…

Why Do I Need Health Insurance if I’m Not Sick?

204303035_d15fd3affb_mAs an independent broker who spends a lot of time fielding countless questions about health insurance, I am still amazed at how many times I am asked: “Why do I need health insurance if I’m not sick?”

I think that this question DIRECTLY reveals a bigger problem in the American mindset: when it comes to our health, we have forgotten the intended purpose of insurance in the first place. Read More…

Alternatives to COBRA

8256995700_470c0f22ba_mDon’t Pay Outrageous COBRA Costs

If you are recently unemployed, don’t feel pressured to pay expensive COBRA health coverage. COBRA health coverage locks you into your employer’s expensive group plan. Choose an Ohio individual health insurance plan today, and you won’t get stuck with high COBRA expenses.

Unemployment means your spouse loses benefits as well. Don’t get hit with double coverage loss for you and your spouse. Choose comparable coverage for your spouse with an Ohio individual health insurance plan. Pick and choose your doctors now. Enjoy the freedom and portability that goes along with Ohio individual health insurance plans. Take your future into your own hands with an Ohio individual health insurance plan. Read More…

Why Does Health Reform Include a Mandate?

Medical insurance papersAs we approach 2014 and President Obama’s Patient Protection and Affordable Care Act (PPACA or, “Obamacare”) continues to unfold, one of the realities each and every one of us will have to face is that of the individual mandate. This is the part that essentially forces each American citizen to have some kind of credible health insurance, or else face some penalties that go up over time.

Obviously, this individual mandate has gotten a lot of press, and continues to face legal challenges. But late last year the Supreme Court of the United States upheld it. Read More…

Healthcare Reform is Coming…or Is it Already Here?

longterm-careDespite all the endless debate about the merits of President Obama’s Patient Protection and Affordable Care Act (PPACA or, “Obamacare”), I think we can all agree that the health insurance industry has been in disarray. Prices have been rising for decades while care levels have been falling. The point of debate has been about who is going to fix it, who is going to take credit for the fix and whether the fix will be something more government centric or more free market centric. Read More…