THE MOMENT we’ve all been waiting for is finally upon us, the open enrollment for the new Affordable Healthcare Act commonly referred to as Obamacare.
- What does this mean to you?
- What changes will you have to make?
- When do you need to make these changes?
- What will the plans like look?
- How much will the plans cost?
- Am I eligible for a subsidy?
These are all questions I’ve been fielding for that past several months. Because the Health and Human Services Agency in charge of implementing the ACA law has set a moving target for insurance companies, rates and plan designs are only now being realized just in time for the October 1, 2013 “Open Enrollment” for plans to become effective January 1, 2014.
For those of you that do not have either an employer sponsored plan or an individual plan, October 1st is the date you can begin to shop for individual health insurance either through Nevada Health Link insurance exchange or directly through health insurance companies. Regardless of what source you purchase coverage through the rules will be the same, no medical underwriting and no pre-existing condition limitations. Those of you with income’s between the 400% to 133% of the FPL (Federal Poverty Level) that is roughly between $46,500 and $23,000 or $96,000 for a family of four of annual income, you would be eligible for a government subsidy to help you pay for your health insurance.
In order to take advantage of a subsidy you will need to buy coverage through Nevada Health Link insurance exchange. Ruiz Insurance will be certified to help you buy coverage with Nevada Health Link. Currently there are only a few companies that will be selling the four “metal plans” Platinum, Gold, Silver and Bronze.
For those of you that do not fall in that income range your best option is to purchase directly with insurance companies though a broker like myself. They will not only offer the four metal plans available through Nevada Health Link but also a larger choice of plan styles. The open enrollment period from October 1, 2013 through December 7, 2013 is the same as Nevada Health Link and coverage would become effective on January 1st.
In the next blog I will get more in depth on what changes can you expect with your current health insurance. In the meantime, see if you are eligible for the government subsidy program. Here is an online calculator where you can plug in your income and see if you qualify.
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George Ruiz (775) 887-1152