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Our goal here is to help you understand simply what the new changes mean for you and how to approach purchasing a plan. You may be eligible for a subsidy (or discount) on your plan, joining a low income state run insurance plan, or simply purchasing a plan through an insurance company.
A Discount on Your Health Insurance Premium:
The passing of the affordable care act caused a few new factors when considering a new policy. In California and some other States, the limit for low to no cost insurance through state run insurance plans rose to far more than 100% of the poverty level. This along with other regulations imposed by the Affordable Care Act allows anyone who meets the income guidelines to sign up for a Medic-aid (Medi-cal in California) to apply and get little to no cost coverage.
The law also offered anyone over the Medic-aid/ Medi-cal income guidelines up to an income reflecting 400% of the poverty level to enroll in the State or Federal health insurance purchasing marketplace (Covered California in California). This means that you might end up with as low as $1 per month for your insurance plan.
If you make more than the limits for this program, or either spouse has a health insurance plan through work and pay less than 9.5% of their income on the employee's plan (Not The Entire Family Cost), no one is eligible in the household for the government subsidies. This means that you can purchase a policy directly through an insurance companies, but prices may surprise you as rates now need to support a pool of insured people despite any past medical conditions! All policies need to meet the minimum standard of benefits, so even if you are an male purchasing a policy on your own, maternity will be included.
The three categories of purchasing through the government low income organizations, through one of these new marketplaces, and directly through an Insurance company all require a well thought out approach. We highly recommend finding a local insurance agent to explain all of this. Most agents do not charge any extra fees from you to help, so use their help to analyze your situation and help you enroll.
www.point1insurance.com
If you make more than the limits for this program, or either spouse has a health insurance plan through work and pay less than 9.5% of their income on the employee's plan (Not The Entire Family Cost), no one is eligible in the household for the government subsidies. This means that you can purchase a policy directly through an insurance companies, but prices may surprise you as rates now need to support a pool of insured people despite any past medical conditions! All policies need to meet the minimum standard of benefits, so even if you are an male purchasing a policy on your own, maternity will be included.
The three categories of purchasing through the government low income organizations, through one of these new marketplaces, and directly through an Insurance company all require a well thought out approach. We highly recommend finding a local insurance agent to explain all of this. Most agents do not charge any extra fees from you to help, so use their help to analyze your situation and help you enroll.
www.point1insurance.com
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