The healthcare industry is gearing up for big health insurance reform changes starting in January 2014. We concur at The Compare Health Insurance Agency and would like to help make the transition a little easier going forward and what to expect and how to prepare for these inevitable changes.
First as an individual you should expect the following changes which will be greater flexibility in the ability to change plans in the future meaning no medical underwriting will be involved when determing qualification for a plan or a rate. This will eliminate any distinctions among the health insurance consumers who will see no difference between them and anyone else in the marketplace.
Whether you agree with this process or not it is the law of the land so if you have medical issues then expect the ability to upgrade your coverage regardless of medical conditions or chronic health problems. No premium upcharges will apply and current health will be irrelevant. If you are an individual with any medical issue that requires you to be on a higher risk plan or you have encountered rejection then the world will change in January 2014. For those who might not be aware of quality alternatives then check out the PCIP plan which offers coverage if you have been denied by a private carrier. Rates are subsidized by the Affordable Healthcare Act also known as Obamacare.
Individuals should wait for the new rates and plans to be introduced in the 4th quarter of 2013 and see how the marketplace has responded because more than likely rates will be higher for individuals with standard individual rates and lower for individuals who are on a HIPAA or non standard plan.Coverages will include autism and preventative care benefits.
It will be a matter of determing the affordability of the monthly premium. The particulars of when an individual can upgrade or downgrade has yet to be released to the public but as the year goes on more information will become available. Individuals will have the ability to pay a tax which is explained in the previous blog article if interested. Please do consider that this tax does not give you coverage and the individual will be responsible for all medical bills incurred in any situation. We don't know at this time whether bankruptcy will be allowed if the tax is paid.
Our blog will continue to update individuals and families going forward since very important information has not been released to the public. Anticipate October 2013 as the time frame to get bids from the state health exchange and more detailed subsidy information.
If looking for health insurance subsidy information then visit The Kaiser Family Foundation for futher information on income levels and government tax credits which will be available in purchasing coverage through the health exchange.
We look forward to working with you.
