This is a question we hear a lot. If you currently have health insurance, your plan fits into one of two categories: Grandfathered plans: policies purchased before the Affordable Care Act (ACA) was signed into law on March 23, 2010 and still active. For more information on grandfathered plans click here. Non-grandfathered plans: policies purchased on or after March 23, 2010, with coverage active before January 1, 2014. Because these
Anthem Letter – What Does it Mean?
Anthem recently mailed out letters to thousands of policyholders with non-grandfathered health insurance plans … and, in the process, may have inadvertently confused a lot of people! To read the letter, click here. What does the letter mean? In a nutshell, the letter informs Anthem’s policyholders that the way a policy year is defined is changing from the default of a calendar year (January 1 – December 31) to a
Understanding Health Insurance Premiums
States are beginning to release premium rates for policies that will be sold on their health insurance exchanges beginning on October 1. The news can be confusing, however, and subject to interpretation — and “spin”. On a single day in July, for example, the Washington Post ran this headline: “Maryland Issues Insurance Rates That Are Among the Lowest in U.S.” On the same day, the Baltimore Sun ran this: “Premiums
What is a Navigator Under Affordable Care?
When you’re on a road trip to some place new, it is helpful to have along a navigator — someone to help you get where you need to go. Preferably, your navigator is someone who, at best, has been there before, but at the very least, has the experience to help you map out the best route and adjust to any trouble spots along the way. When the Exchanges (also
Who Should I Choose to Help Me Buy Health Insurance — A Broker or a Navigator?
We think the choice is clear. Always turn to a Broker over a Navigator when buying individual health insurance — on or off the Exchange. What is the difference between a Broker and a Navigator? Navigators are short-term contract workers hired — with or without any experience with health insurance — for the purpose of explaining the existence of the Exchange to people shopping for insurance on the Exchange. They
The Role of the Broker in Buying Employer-Sponsored Health Insurance
The delay of the employer mandate under the Affordable Care Act (ACA) means employers will not be required to provide group coverage for their employees until January 1, 2015. But, the mandate is going to happen, and we recommend employers begin to think — and plan ahead — for that eventuality. In fact, under ACA, employers must notify their employees about their health insurance options by October 1, 2013 (read
Affordable Care Act – Test Your Knowledge
There are less than 70 days until October 1, 2013 — the date open enrollment begins and Americans can start purchasing health insurance with an effective date of January 1, 2014. How well do you understand the new health reform law? Take our 10-question quiz to find out. Click here or on the owl to test your knowledge! Let us know how you score, and give our office a call
Health Insurance Changes Coming Your Way Under the Affordable Care Act
Check out this helpful video about the Affordable Care Act. Then give us a call if you have any questions about how the new law will impact you! Remember, Virginia Medical Plans can help you purchase your health insurance — on or off the exchange — at no extra cost to you! [youtube=http://youtu.be/JZkk6ueZt-U] SOURCE: “The YouToons Get Ready for Obamacare: Health Insurance Changes Coming Your Way Under the Affordable Care Act,”
Determining Eligibility for a Health Insurance Subsidy
Shortly after the announcement that the employer mandate is delayed until 2015, the federal government announced another change to the implementation of the Affordable Care Act (ACA). This time the change is regarding how an individual’s eligibility for a health insurance subsidy will be verified. A person is eligible for a subsidy if: (1) he or she earns less than 400% of federal poverty level (those earning less than 133%
Buying Individual Health Insurance Under the Affordable Care Act
If you currently buy your own health insurance (vs. getting it through your employer), you may be wondering what your next steps will be now that implementation of the next phase of the Affordable Care Act (ACA) is getting closer. Here is a quick run-down of your options. If your current coverage is a grandfathered health insurance plan and you have favorable rates and terms on the current plan, then
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