As promised in earlier blog posts our health insurance agency will consistently update the public on new developments in the health insurance industry including the new California Health Insurance Exchange. Please click on Covered California for extensive information on the new exchange or please contact us with any questions you may have going forward.
Do you have to buy health insurance? If you don't have health insurance, you should. Health insurance is an important way to make sure we have access to medical care when we need it. Starting in January 2014, most people will be required to have health insurance or pay a penalty if they don't. Coverage can include employer-provided insurance, coverage you buy on your own, Medicare or Medi-Cal, California's Medicaid health care program.
This program provides free medical services for children and adults with limited income and resources. Your local County Welfare/Social Services Department manages Medi-Cal eligibility determinations. You can get Medi-Cal as long as you meet the eligibility requirements.
You can get Medi-Cal as long as you meet the eligibility requirements. coverage and your income increases to more than $15,415 a year for an individual or $31,810 for a family of four, you would no longer qualify for this no-cost government insurance plan. However, through Covered California, you could find affordable coverage and tax credits to help pay the premiums
The penalty phases in over three years and becomes increasingly severe. In 2014, the penalty will be 1 percent of annual income or $95, whichever is greater. By 2016, the penalty will be 2.5 percent of income or $695. This means that if you do not have coverage in 2014, you will be required to pay a penalty when you file your taxes at the end of the year.Covered California will open later this year, and continue enrollment until March 31, 2014.You must purchase health insurance during this open-enrollment period to obtain coverage in 2014. If you have a life-changing event such as the loss of a job, death of a spouse or birth of a child, you would be eligible for special enrollment.
The opportunity for people who experience a life-changing event, such as the loss of a job, death of a spouse or birth of a child, to sign up immediately in an employer’s health plan, even if it is outside of the plan’s specified enrollment period. within 60 days of the event. If you do not enroll during this period, you will not be assured a health plan will cover you – either through Covered California or in the private market.
In addition to these traditional health plans, Covered California will offer what is called "catastrophic coverage," which helps protect a person from financial disaster in the event of a serious and expensive medical emergency. Catastrophic coverage is not designed for day-to-day medical expenses such as doctor visits, prescription medicines or even emergency room visits. It is designed to cover excessive medical bills that occur above the limit that you would be able to manage financially.
Covered California will provide catastrophic coverage for those up to age 30, or those individuals who can provide a certification that they are without affordable coverage or are experiencing hardship.
The tax credits are available when you buy insurance so you do not have to pay all of the premium costs up front and wait for reimbursement. The tax credits will be available to all people who are eligible for them, whether they file taxes or not. The credits are only available for health insurance purchased through Covered California and will be paid directly to your private health plan by Covered California.
The next open-enrollment period begins in October 2014 for coverage in 2015. If you are eligible for Medi-Cal California's medicaid health care program. This program provides free medical services for children and adults with limited income and resources. Your local County Welfare/Social Services Department manages Medi-Cal eligibility determinations. You can get Medi-Cal as long as you meet the eligibility requirements you can enroll at any time.
We are going to have regular updates on the entire healthcare reform implementation so stay tuned to this website for futher information.
