This Health Care Reform video is a quick and easy way to understand the Affordable Care Act (ACA) and how it will unfold in January 2014. The health insurance exchanges are being built now, and the video provides an overview of how the health insurance exchange will be available for enrollment which is October 1st, 2013 until March 31st, 2014.
I strongly recommend watching the entire video because it really does offer a great deal of clarity on who will be paying more money, who will be paying less money, and who will benefit most. One element the exchange video does not cover is the ability to buy private insurance now and being able to keep the plan through next year. This has become a very popular option, especially for self-employed individuals who are earning over $46,000 as an individual, $62,000 as a couple, $78,000 as a family of three, or $94,000 as a family of four.
The video on Obamacare is only a few minutes long and while it uses cartoons, it is very effective in providing the facts on the health insurance exchange.
Once you have watched the video we have a few suggestions for you.
Group Coverage: If you have coverage through your employer, and your employer has more than 50 full time employees. Don’t do anything, you will get coverage through your employer.
Individual Coverage: If you currently have individual or family coverage and purchased it over nine months ago, you should get a new health insurance quote and review your current coverage. The reason for this is that new plans will let you keep your current policy until the renewal date. By letting us shop your coverage we can preserve your time on an affordable plan. For example, a plan that starts in October 2013 will be good until October 2014. Depending on your income level and situation, this could save you thousands of dollars.
Health Care Reform Questions and Answers
Question: My employer will cover me at 100%, but if I add my spouse and two kids, my employer wants $500 a month extra. What are my health insurance options in 2014 .
Answer: While $500 may seem like a lot of money today, in 2014 this would be an excellent rate for a family of four to be covered. If your job is full time you may be able to get some subsidy, as the federal government will not force you to contribute more than 9.5% of your income. So a family earning $100K a year would pay no more than $9,500 a year or $791 a month. So depending on household income a $500 a month cost for family coverage would most likely be a very affordable option by 2014 standards.
Question: I am self-employed and have a family of four. Both parents work and I we earn a combined income of $65,000. How much would we pay for coverage.
Answer: The family rate on the Silver plan would be around $480 a month.
Question: I’ve been on hard times and in and out of the work force and mostly on unemployment. My spouse and I only earn around $35,000 a year and we have 3 children and one on the way. How can I afford coverage.
Answer: Good news, as you saw in the Obamacare video, Healthcare Reform will truly help some people. Your family’s subsidy will be very high. You will have a plan that costs around $19,000 a year, but you will only have to pay around $50 per a month. Your family plan will be 97% subsidized by the federal government.
Question: What my income gets better and next year I earn, $50,000 a year.
Answer: Then your premium would go up to around $225 per a month.
Question: I am 30 years old and very healthy. I am not married and earn $50,000 a year. I currently have a great plan through United Health One and I pay $87 a month for $3,500 deductible HSA with a max out of pocket of $3500. What will I pay in 2014.
Answer: If you watched the Affordable Care Act video, you will see that younger people 30 – 40’s will pay more as will people with a higher income. Your rate will go up to about $320 a month, your deductible and coinsurance max out of pocket on the Silver plan will not be more than $6350. Your extra premium money is used to help our country afford national health insurance.
After watching he video and reading these questions and answers, you may have a lot more questions about Obamacare. Due to large call volumes we find it is best to just email us your questions and we can get back to your with the correct information. Our email address is Client@EasyToInsureMe.Com and we will respond to your health care reform questions within 24 hours.