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changesaheadnewThe Affordable Care Act (ObamaCare) initial open enrollment ended March 31, 2014   If you missed the open enrollment period for 2014 you won’t be able to buy health insurance until November 2014, with the earilest effective date of 1/1/2015.   However, don’t panic there are other options outside of the open enrollment period in the private insurance market should an individual and/or family experience a “Qualifying Life Event”.   A qualifying life event is a special exemption that allows individuals and families to buy private health insurance through a broker outside the open enrollment period designated under the Affordable Care Act (ACA) for 60 days following    the qualifying event.

Examples of qualifying events include:

  • If you were recently married,
  • Divorced or had a child or adopting a child,
  • Involuntarily losing previously employer held health insurance or COBRA coverage ends,
  • Changing your permanent place of residence,
  • Child reaches age 26 and can no longer be included on their parents health insurance plan.

Since the list of qualifying life events is so varied, it’s worth investigating whether a major change in your life make you eligible for a special enrollment period.   Our broker staff can guide you in evaluating your situation to determine if you qualify for a special enrollment period and assist you in determining if you qualify on the Government Exchange (for a subsidy) or a private plan off the Exchange.

 

Under the Affordable Care Act only four basic types of plans are available and all include  the required ten essential benefits mandated by the Affordable Care Act.    The difference between the plans is based on the “actuarial value for each plan.   Here’s how the four basic type of plans are broken down:

  • Bronze-    Pays 60 percent of the medical cost.   You pay 40 percent
  • Silver-    Pays 70 percent of the medical cost.   You pay 30 percent
  • Gold-    Pays 80 percnet of the medical cost.    You pay 20 percent.
  • Platinum-   Pays 90 percnet of the medical cost.    You pay 10 percent.

Premiums will generally be lower for bronze and silver plans than for gold and platinum plans, but you’ll pay higher deductibles and co-payments for your medical care.

Additional key points of interest you may want to review are highlighted below:

Choosing your health insurance coverage is an important decision and is frequently complicated.   We specialize in helping people find affordable individual and/or family health insurance for their specific situation.   Our service cost you nothing, and we GUARANTEE your premium, for the same health insurance benefits, will be NO greater than if you purchased your individual and/or family health insurance directly from the insurance company by yourself.   To request a free, no obligation, online Quote,Simply click on the blue quote bar.   Should you have questions or need assistnace with the online quoting process or like a personal consulation regarding your situation or help in completing your online application for health insurance please give Laura, an RN and experienced career broker a call in the Greater Houston Area (936) 321-6286 or toll free 1 (888) 780-1215 anywhere in Texas.