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Tag Archives: affordable health insurance

Will You Get a Health Insurance Subsidy? You Might Be Surprised.

subsidyOne of the ironic points about the Patient Protection and Affordable Care Act on the horizon (also known as “Obamacare”) is that insurance rates are going to rise. In fact, they already have since the plans offered today are required to provide immediate benefits up front: most notably preventive care (physicals, screenings and immunizations) offered at no out-of-pocket cost to the patient.  It’s a benefit and it costs money. Read More…

DEC Presents: Affordable Care Act 101 (Live Event from Sept 19, 9-11am)

DEC Presents: Affordable Healthcare Act 101

Join us on Thursday, September 19 from 9:00am – 11:00am in the 1st Floor Training Conference Rm.

Program:

“Health Reform – Navigating the Changes in Healthcare”

PPACA

Learn about The Affordable Care Act

The newly enacted federal Patient Protection and Affordable Care Act makes sweeping and dramatic changes to how employers manage their employee benefits. It is crucial that employers stay abreast of changes that will immediately impact their businesses as well as begin preparation for future requirements that will have financial and administrative impact. Join us as we map out how reform affects businesses and individuals alike. The seminar will inform business owners, employers and human resource professionals on the latest information about health reform and how it will directly impact businesses.

 

Topics Covered:

· Employer Mandates

· Individual Mandates

· Coverage Expansion to Dependents

· Small Business Health Insurance Tax Credit

· Exchanges

· Medical Loss Ratio (MLR)

· Grandfathering

· How to stay in touch with new developments

· Early retiree reinsurance program

This Presentation will provide:

1. Deconstruction of the Bill and Its Provisions

2. A Timeline of Provisions and Employer Responsibilities

3. Practical Steps to Comply with the Law

4. Anticipated Changes to Benefit Plan Design, and the Role of Wellness Programs

This seminar will examine these impacts, analyze the options and opportunities and present what this means to you, your employees and your company. This conference will be useful for business owners, human resources professionals who are responsible for managing their employee benefit programs, health care providers and others involved in the health care industry.

Presenters: Matt Byrne & Barry Darryl Peel

Barry Darryl Peel is an Economic Development Specialist, Veteran Representative and Affordable Care Act Specialist with the U.S. Small Business Administration, Columbus District Office. Barry is responsible for creating and maintaining relationships with banks, chambers, economic development agencies, small businesses and small business assistance agencies. Barry brings over 15 years’ experience working with small businesses, especially Minority, Women and Immigrant owned.

Matt Byrne is President of MyHealthQuoter.com, a division of Spiralight Group, a health insurance brokerage specializing in affordable solutions for individuals, families and employer sponsored plans. Matt has a Bachelor of Arts degree from Boston University and holds a life and health insurance license.

He serves on the board of Central Ohio Professional Education Council (COPEC) and the Foundation Board of Trustees for First Community Church.

Location:

The Dublin Entrepreneurial Center is located at 565 Metro Place South, Suite 300, Dublin, Ohio 43017. For more information visit our website or even better join the conversation on twitter, facebook, or LinkedIn.

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

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…

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…

Uninsured Help, Health Care Affordability Help

Some great resources for the uninsured and those with affordability issues (isn’t that all of us now?)

http://jfs.ohio.gov/ohp/bcps/factsheets/HCAP.pdf
http://www.needymeds.org/
https://www.panfoundation.org/
http://www.healthwellfoundation.org/
http://coverageforall.org/
http://www.eyecareamerica.org/
http://www.cdfund.org/
http://www.ohiobestrx.org/en/index.aspx
http://healthreform.kff.org/~/media/Files/KHS/Flowcharts/requirement_flowchart_2.pdf

MyHealthQuoter.com helps individuals and families find affordable health insurance. Call (866) 577-3620 to speak with a consumer advocate today.

We will be hosting series of Health Reform Webinars on the first Friday of every month from 12-1pm. If you are interested, let us know and I’ll put you on the invitation list. Email: matt@myhealthquoter.com

The next 4 sessions:

February 1, 2013
March 1, 2013
April 5, 2013
May 3, 2013

Matthew Byrne has made a career helping people find affordable health insurance. He is the founder of MyHealthQuoter.com, a Dublin-based brokerage providing health insurance for individuals, families and corporations. Mr. Byrne is a subject matter expert speaking frequently about Health Care Reform, Defined Contribution Programs, COBRA, and Medicare.

Subsidy Calculator – Health Reform Premium Calculator

HEALTH INSURANCE REFORM

The health care reform law also imposes requirements on health insurance issuers to reform certain insurance practices and improve the coverage available.

• Eliminating Pre-Existing Condition Exclusions for Children. Group health plans and health insurance issuers may not impose pre-existing condition exclusions on coverage for children under age 19. This provision will apply to all employer plans and new plans in the individual market. This provision will also apply to adults in 2014.

• Coverage of Preventive Health Services. Group health plans and health insurance issuers offering group or individual health insurance coverage must provide coverage for preventive services. These plans also may not impose cost sharing requirements for preventive services. Grandfathered plans are exempt from this requirement.

• Prohibiting Rescissions. The health care reform law prohibits rescissions, or retroactive cancellations, of coverage. Group health plans and health insurance issuers offering group or individual insurance coverage may not rescind coverage once the enrollee is covered, except in cases of fraud or intentional misrepresentation. Plan coverage may not be cancelled without prior notice to the enrollee. This provision applies to all new and existing plans.

• Limits on Lifetime and Annual Limits. In general, group health plans and health insurance issuers offering group or individual health insurance coverage may not establish lifetime limits on the dollar value of benefits for any participant or beneficiary or impose unreasonable annual limits on the dollar value of benefits for any participant or beneficiary. This requirement applies to all plans, although plans may request a waiver of the annual limit requirement. The annual limit waiver program will be close to applications effective Sept. 22, 2011. Annual limits will also be prohibited beginning in 2014.

HEALTH INSURANCE EXCHANGES

The health care reform legislation provides for health insurance exchanges to be established in each state in 2014. Individuals and small employers will be able to shop for insurance through the exchanges. Small employers are those with no more than 100 employees. If a small employer later grows above 100 employees, it may still be treated as a small employer. Large employers with over 100 employees are to be allowed into the exchanges in 2017. The health care reform legislation provided that workers who qualified for an affordability exemption to the coverage mandate, but did not qualify for tax credits, could use their employer contribution to join an exchange plan. This requirement is known as the “free choice voucher” provision. The federal appropriations bill signed by President Obama on April 15, 2011, eliminated the free choice voucher provision from health care reform.

MyHealthQuoter.com is a consumer advocacy group assist insurance shoppers navigate plan choices and enroll on the exchange. Our case managers will guide you through the process and provide customized one-on-one consultations to maek sure you the the best plan at the lowest price.

Call (866) 577-3620 for more information.

Subsidy Calculator: http://healthreform.kff.org/subsidycalculator.aspx

HEALTH INSURANCE REFORM
Additional health insurance reform measures will be implemented beginning in 2014.

• Guaranteed Issue and Renewability. Health insurance issuers offering health insurance coverage in the individual or group market in a state must accept every employer and individual in the state that applies for coverage and must renew or continue to enforce the coverage at the option of the plan sponsor or the individual.

• Pre-existing Condition Exclusions. Effective Jan. 1, 2014, group health plans and health insurance issuers may not impose pre-existing condition exclusions on any covered individual, regardless of the individual’s age.

• Insurance Premium Restrictions. Health insurance issuers will not be permitted to charge higher rates due to heath status, gender or other factors. Premiums will be able to vary based only on age (no more than 3:1), geography, family size, and tobacco use.

• Nondiscrimination Based on Health Status. Group health plans and health insurance issuers offering group or individual health insurance coverage (except grandfathered plans) may not establish rules for eligibility or continued eligibility based on health status-related factors.

• Nondiscrimination in Health Care. Group health plans and health insurance issuers offering group or individual insurance coverage may not discriminate against any provider operating within their scope of practice. However, this provision does not require a plan to contract with any willing provider or prevent tiered networks. It also does not apply to grandfathered plans. Plans and issuers also may not discriminate against individuals based on whether they receive subsidies or cooperate in a Fair Labor Standards Act investigation.

• Annual Limits. Restricted annual limits will be permitted until 2014. However, in 2014, the plans and issuers may not impose annual limits on the amount of coverage an individual may receive.

• Excessive Waiting Periods. Group health plans and health insurance issuers offering group or individual health insurance coverage will not be able to require a waiting period of more than 90 days.

• Coverage for Clinical Trial Participants. Non-grandfathered group health plans and insurance policies will not be able to terminate coverage because an individual chooses to participate in a clinical trial for cancer or other life-threatening diseases or deny coverage for routine care that they would otherwise provide just because an individual is enrolled in such a clinical trial.

• Comprehensive Benefits Coverage. Health insurance issuers that offer health insurance coverage in the individual or small group market will be required to provide the essential benefits package required of plans sold in the health insurance exchanges. This requirement does not apply to grandfathered plans.

• Limits on Cost-Sharing. Non-grandfathered group health plans will be subject to limits on cost-sharing or out-of-pocket costs. Out-of-pocket expenses may not exceed the amount applicable to coverage related to HSAs and deductibles may not exceed $2,000 (single coverage) or $4,000 (family coverage). These amounts are indexed for subsequent years. Further guidance on which plans will have to apply these limits would be helpful.

MyHealthQuoter.com is a consumer advocacy group assist insurance shoppers navigate plan choices and enroll on the exchange. Our case managers will guide you through the process and provide customized one-on-one consultations to maek sure you the the best plan at the lowest price.

Call (866) 577-3620 for more information.

Subsidy Calculator: http://healthreform.kff.org/subsidycalculator.aspx

Navigating Health Reform (Part 7 of 7) (A Video)

Do you need someone to speak about Health Reform to your company or group? Are you looking for someone to help you navigate health reform or the complex health insurance process?

Feel free to contact us to schedule a time to review your needs.

Matt Byrne is President of MyHealthQuoter.com, a division of Spiralight Group, a health insurance brokerage specializing in affordable solutions for individuals, families and small groups. He also founded The Ohio Referral Network (TORN), a group that helps small businesses cultivate their professional development and the exchange of referrals.

Matt draws on fourteen years of technical product marketing experience. He has achieved record growth and has created several innovative marketing strategies which leverage and unify several state-of-the-art technologies including; CRM, telemarketing, affiliate programs, strategic partners, referral program, e-newsletters, live and virtual seminars, multimedia social networking and the internet.

Matt has a Bachelor of Arts degree from Boston University and holds a life and health insurance license.

He serves on the board of the Central Ohio Professional Education Council (COPEC) and the Foundation Board of Trustees for First Community Church.

Matt can be reached at (614) 336-3636 or http://www.myhealthquoter.com/

This is part of a 7 part series called Navigating Health Reform, please review some of our past entries.

Part 1: http://www.ohioindividualhealthinsurance.net/?p=422
Part 2: http://www.ohioindividualhealthinsurance.net/?p=432
Part 3: http://www.ohioindividualhealthinsurance.net/?p=437
Part 4: http://www.ohioindividualhealthinsurance.net/?p=444
Part 5: http://www.ohioindividualhealthinsurance.net/?p=510
Part 6: http://www.ohioindividualhealthinsurance.net/?p=524
Part 7: http://www.ohioindividualhealthinsurance.net/?p=625

All you need to know about Health Savings Accounts (HSAs)

All you need to know about Health Savings Accounts (HSAs).

Imagine an affordable health insurance plan that offers 100% preventive coverage that is NOT subject to your deductible. That’s right, no co-pay, no out of pocket 100% free for all preventive coverage. We’ve helped thousands of satisfied clients find affordable Wellness HSA’s.

Click here to start shopping for your HSA or call us at (866) 577-3620.

The insurance companies value prevention and early detection. They beleive in it so much that they literally give away most prevention and diagnostic services.

Please listen to my 30 minute blog about Health Savings Accounts

Listen to internet radio with spiralight on Blog Talk Radio

Health savings accounts (HSAs) are savings plans that allow health care consumers to set aside tax-free money to cover current and future qualified medical expenses. An HSA allows account holders to set aside as much as $3,350 for individuals and $6,650 for families annually before federal taxes to cover out-of-pocket healthcare costs, for individual and family coverage respectively in 2015 (and indexed annually thereafter). Contributions to HSAs are made annually and can be made by both employers and individual account holders. Unlike flexible spending accounts (FSAs) in which funds must be used within a certain period of time or forfeited, unspent funds in an HSA can accumulate over time as tax deferred savings. If the money is used for medical expenses, it is never taxed. To enjoy the tax benefits, you’ll also need a HSA compatible high deductible health plan (HDHP). When paired together, funds from a HSA can be used to cover the deductible and other cost-sharing aspects of an HDHP, as well as other qualified medical expenses not covered by the HDHP.

We’ve helped thousands of satisfied clients find an affordable Wellness HSA and we can help you, too. Give us a call at (866) 577-3620 and we’ll help you find a health insurance plan that is. . .

Affordable – Up to 50% cheaper than group coverage
Portable – You can take it with you from job to job
Permanent – As long as you make your premium payment, nobody can take it away

How It Works

1) You enroll in an HSA-qualified HDLP. You’ll pay lower premiums and have an account designed to help you pay for qualified medical expenses.

2) You establish an interest-bearing HSA.

3) You and other individuals may make tax-advantaged contributions to your HSA, up to certain limits.

4) You may use your HSA debit card or personal check* to pay for qualified medical expenses. Your local bank can help establish an HSA bank account. We suggest

We suggest using H S A Bank. They have a suite of 18 mutual funds you can use and allocate. https://secure.hsabank.com/enrollment?ain=1020030

What are qualified medical expenses?

Eligible medical expenses are defined as those expenses paid for care as described in Section 213(d) of the Internal Revenue Code. Additionally, the IRS allowed some over-the-counter drugs to qualify as eligible medical expenses.

This is a partial list of eligible medical expenses. Visit the IRS’s website (Publication 502) for a more complete list of eligible medical expenses.

Acupuncture
Alcoholism
Ambulance
Artificial Limb
Artificial Teeth
Bandages
Breast Reconstruction Surgery
Braille Books and Magazines
Capital Expenses / Home Improvements
Chiropractor
Christian Science Practitioner
Contact Lenses
Crutches
Dental Treatment
Diagnostic Devices
Disabled Dependent Care Expenses
Drug Addiction
Drugs / Medicines
Eyeglasses
Eye Surgery
Fertility Enhancement
Founder’s Fee
Guide Dog or Other Animal
Health Institute
Health Maintenance Organization (HMO)
Hearing Aids
Home Care
Hospital Services
Labor and Delivery
Laboratory Fees
Lead-Based Paint Removal
Learning Disability / Special Education
Lifetime Care – Advance Payments
Long-Term Care
Medical Services
Medicines / Drugs
Mentally Retarded, Special Home for
Nursing Home
Nursing Services
Operations
Optometrist
Organ Donors
Osteopath
Oxygen
Prosthesis
Psychiatric Care
Psychoanalysis
Psychologist
Stop-Smoking Programs
Surgery
Therapy
Transplants
Vision Correction Surgery
Wheelchair
Wig
X-ray

Future value of money calculator for H S A contributions.

http://www.hsabank.com//hsabank/education/futurevalue.aspx

Click here to start shopping for your HSA or call us at (866) 577-3620.

Shop online; http://www.myhealthquoter.com/healthsavingsaccount.html

Health insurance, medical insurance ohio, medical ira, health savings account, HSAs and travel insurance, international travel insurance, trip cancellation insurance, individual health insurance quotes for Ohio including: Akron, Canton, Columbus, Cincinnati, Cleveland, Dayton, Toledo.

Frequently searched terms; COBRA, COBRA Subsidy, COBRA Subsidy Extension, Dublin Ohio Health Insurance, Ohio Health insurance, affordable medical Insurance ohio, and individual health insurance quotes for Ohio including: Akron Health Insurance, Canton Health Agents, Columbus Ohio Health Insurance, Cincinnati Health Insurance, Cleveland, Dayton, Toledo.