Monthly Archives: September 2013

OPEN ENROLLMENT MEDICARE SUPPLEMENTS

Open enrollment for Medicare Supplemental Insurance begins October 15, 2013 and continues through December 7, 2013 for coverage January 1, 2014.
Seniors — contact Jeremy with questions and concerns regarding your existing coverage.
Turning 65? Contact us for information on the best ways to protect your health and enjoy your Golden Years, free from worry about medical costs determining your quality of life.

Open Enrollment – Affordable Health Care Exchange

Reasons to Use An Agent for the Exchange
Open enrollment for the Affordable Health Care Exchange begins October 1, 2013 for effective coverage January 1, 2014. The Exchange can be confusing so let us guide you through the decision and application process. All agents are required to complete hours of training to prepare to aid you in deciding whether the exchange is right for you and to help you navigate the application process.
Small business owners will be directed to Certified Agents. In order to ensure that you have personalized service throughout the length of your coverage, Covered California is referring applicants to Licensed Agents.
Call Jeremy at (310) 486-7625 to have your questions answered and your particular insurance needs met.

Health Exchange Tax Breaks

According to a new Kaiser Family Foundation analysis, Americans who currently buy their own insurance through the individual market would receive tax credits averaging nearly $2,700 next year for coverage purchased through new insurance marketplaces. The tax credits or subsidies would be an average of 32 percent of the premiums for this group of enrollees in “silver” plan.

These rate announcements do not reflect federal subsidies that will offset the cost of insurance for many current individual market policy holders.

“Tax subsidies are an essential part of the equation for many people who buy insurance through the new marketplaces next year,” Foundation President and CEO Drew Altman said. “They will help make coverage more affordable for low- and middle-income people.”

Tax credits will be available to subsidize premiums for people who buy their insurance in the new marketplaces, do not have access to other affordable coverage, and have incomes between 100% and 400% of the federal poverty level (between about $11,500 and $46,000 for a single person, and $24,000 and $94,000 for a family of four).

An estimated 48% of people who currently have individual market coverage will be eligible for tax credits. Tax credits among those eligible will average $5,548 per family, and subsidies will average $2,672 across all families now purchasing their own insurance. Many people who are now uninsured will also be eligible for subsidies and their tax credits will likely be higher on average since they have lower incomes than those who now buy their own coverage.
For more information on the tax rates specific to your needs call Jeremy at (310)486-7625.

Out of Pocket Protection – Affordable Health Care

It has recently been reported that a little-noticed rule on the U.S. Department of Labors’ website since February would allow many group health plans to maintain separate out-of-pocket limits for medical and prescription drug coverage for 2014.

But according to a report in the Sacramento Business Journal, California may be in the lead on health care reform again. The Assembly Health Committee passed legislation in August to implement consumer protections in the Affordable Care Act against high out-of-pocket costs.

Senate Bill 639 by Sen. Ed Hernandez would implement key protections to provide a one-year delay for some plans if passed by the Legislature this year and signed by the Governor, despite a decision by the Obama administration.

““With this bill, California can once again not just implement the federal law, but improve upon it so our patients get these benefits as soon as possible,”” Anthony Wright, executive director of Health Access, said in a news release.

“This bill ensures that no California consumer in individual or small group coverage has to wait to get these important consumer protections.”

SB 639 would limit annual out-of-pocket costs to $6,350 per individual.

“”California has been implementing other pieces of the legislation early and should be in a place to go ahead on this,”” Wright said. “It is possible the question is moot in California because benefits and out-of-pocket costs are already set by Covered California for 2014,” he added.