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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