Title : Dealers Insurance - How to Sign Up for ACA Health Insurance for 2019
link : Dealers Insurance - How to Sign Up for ACA Health Insurance for 2019
Dealers Insurance - How to Sign Up for ACA Health Insurance for 2019
Dealers Insurance - How to Sign Up for ACA Health Insurance for 2019
If you don’t have access to insurance through your employer, parent or spouse, it’s almost time to pick a plan for the coming year. Open enrollment for the individual health insurance market begins November 1 and lasts through December 15, 2018.
Plans purchased during this time period start taking effect January 1, 2019. If you don’t get a plan during Open Enrollment, you’ll need to qualify for a Special Enrollment Period during 2019 to secure insurance or buy a short-term plan.
Here’s what you need to know if you’re a new applicant or returning to the individual insurance market.
Open enrollment is shorter than in previous years
The Trump administration has shortened the amount of time people have to enroll in insurance to 45 days this year (the same as last year but shorter than in years prior). That said, because each state manages its own individual market exchange, some have expanded their enrollment period, which you can find here.
The tax penalty for being underinsured is going away
This is one of the bigger changes: The Trump admin has done away with the tax penalty assessed on people who do not have “qualifying” coverage. In 2017, the tax was the higher of 2.5 percent of your household income or $695 per adult (2018's adjusted numbers have not been released yet). But that tax goes away for the 2019 calendar year, which will be reflected in the taxes you file in 2020. Technically the individual mandate is still in effect, though there now won’t be a penalty associated with it.
You should still shop on the exchanges
You should still shop on your state’s Affordable Care Act exchange or the federal site to compare rates. If you’re already enrolled and you do nothing before the deadline, you’ll be re-enrolled. If that plan no longer exists, you’ll be put into the most similar plan, per AARP. Ideally, though, you should shop around for the best plan for you.
You may qualify for a subsidy
The ACA offers subsidies to people whose household income falls between 100 and 400 percent of the Federal Poverty Level, in order to keep up with the cost of rising premiums. Last year, 83 percent of enrollees qualified for a subsidy.
The premium subsidies are based on the cost of the Silver-level plan in the exchanges, though they can be used to pay for any level. That means you might be able to swing a free Bronze-level plan, or relatively inexpensive Gold plan, according to HealthInsurance.org. Here’s how that played out in 2018:
Most states use HealthCare.gov as their exchange, and among the subsidy-eligible HealthCare.gov enrollees, premium subsidies cover 86 percent of the cost of coverage in 2018, bringing those enrollees’ after-subsidy premiums down to an average of just $89/month (as opposed to an average of $621/month before any subsidies are applied).
For reference, the upper income cap on subsidies for 2019 is $48,560 for a single person and $100,400 for a family of four.
If you’re below that income threshold in certain states, you may qualify for Medicaid coverage.
You won’t be penalized for short-term plans (technically)
One of the big changes that will result from the tax penalty going away is that more people are likely to buy into “short term” plans that don’t cover, well, much of anything. President Trump recently issued a rule that allows people to stay on these bare bones plans for up to a year, and consumers can renew them for three years (it was 90 days previously). Additionally, you can sign up for these plans any time, not just during Open Enrollment or a Special Enrollment Period.
These plans can cost as little as $25 per month, depending on where you live, according to the Kaiser Family Foundation. But as reports have demonstrated, relying on these plans means any sort of illness could leave you saddled with piles of medical bills because they exclude so much coverage. You can be denied coverage if you have a pre-existing condition, or have your coverage cancelled retroactively. The insurer can also leave out certain procedures or coverage based on your medical history or charge older people and women significantly more (which the ACA bans). For example, KFF found that no short-term plan covered maternity care in 2018.
Finally, they might put caps on payment for certain treatments, reports MarketWatch. “In the case of hospitalization, some of these insurers will only pay a certain dollar amount for each day of a hospital stay up to a set number of days. If the cost of a consumer’s hospital stay exceeds that amount, they will be forced to pay out of pocket.”
Basically, you get what you pay for.
Where to apply
You should start on healthcare.gov, even if you live in one of the states that has set up their own exchange. You’re going to head to the website, click Get Coverage, select your state and then the site will direct you to proper site. You can compare the different types of plans at healthcare.gov/see-plans/.
source : https://twocents.lifehacker.com/how-to-sign-up-for-aca-health-insurance-for-2019-1829559334
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