Fact #1 Open Enrollment for 2015 individual health insurance plans begins November 15, 2014. Fact #2: You may apply for coverage outside the dates of Open Enrollment if you have a qualifying event. Fact #3: All individual and small group health insurance plans effective on or after January 1, 2014 must include coverage for 10 essential health benefits — things like preventive care, well visits to the doctor, hospitalization, etc.
Preventive Health Care Benefits Under Affordable Care Act (ACA)
We’ve all heard this expression: “An ounce of prevention is worth a pound of cure.” The authors of the Affordable Care Act (ACA) are counting on that! The law requires all marketplace and non-grandfathered health insurance plans to provide coverage for certain preventive care services at no cost to the insured. When we say at no cost, that means the services must be provided without charging coinsurance or a copayment,
Are You Eligible for a Health Insurance Subsidy?
Update October 2014 – Revised income figures for determining eligibility for 2015 coverage. Click here. Here is a chart to help you determine if you qualify for a health insurance subsidy. (Click here to view larger) Give us a call! We can tell you for sure AND help you obtain the subsidy when you buy your health insurance through the exchange.
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
Pre-Existing Conditions – Five Things You Need to Know
Here are 5 things you need to know about pre-existing conditions under the new health care law (aka Affordable Care Act), for plans effective beginning January 1, 2014: 1. You cannot be denied insurance because of pre-existing conditions All new health plans will be guaranteed issue. This means health insurance can be purchased by anyone, regardless of health status. 2. You cannot be charged a higher premium if you have
What Happens if I Do Not Have Health Insurance after January 1 2014?
The individual responsibility clause of the Affordable Care Act (ACA), also known as the individual mandate, requires all Americans to have health insurance by January 1, 2014, or pay a penalty tax. How will the Penalty Tax be Collected? The penalty tax will be collected by the Internal Revenue Service (IRS). When you file your taxes, if you have a gap in health coverage for a continuous three-months or more
Employer Mandate Delayed until 2015
On July 2, the US Treasury Department announced that the employer mandate — a key provision of the Patient Protection and Affordable Care Act (ACA) — will be delayed until 2015. REMINDER: What is the Employer Mandate? Companies with 50 or more full-time or full-time equivalent employees must offer full-time employees and their dependents (i.e., children up to age 26) coverage that is affordable and provides minimum value beginning in
