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The Health Care Reform and YOU
Friday, 23 August 2013 15:51

The Health Care Reform and YOU

The Health Care Reform Time Line

March 23, 2010 President Obama signs into law the “Patient Protection and Affordable Care Act” and the “Health Care and Education Reconciliation Act of 2010”, collectively referred to as PPACA

The most significant legislation to impact the American health care system since the enactment of Medicare

PPACA Mandates Already In Effect

  1. · No lifetime benefit caps
  2. · Restrictions on annual limits for “essential health benefits”
  3. · Dependent coverage extended to age 26
  4. · No exclusions for children’s pre-existing conditions
  5. · Guaranteed issuance of child coverage
  6. · Elimination of deductible and co-pay for certain preventive and wellness services

Additional Changes Coming

October 1, 2013

  • ·“Exchanges” scheduled to begin accepting enrollment

January 1, 2014

  1. · Exchanges” become fully effective
  2. · No pre-existing condition exclusions
  3. · Guaranteed issue coverage, regardless of health status during open enrollment period
  4. · Most individuals must maintain “minimum essential coverage” or face a tax penalty

  • How Can US Health Group Help ME?

    Health Care Reform Mandates have made an already unpopular healthcare system even more confusing and expensive. Let me help you navigate the complexities of the healthcare system, using our innovative portfolio of coverage designed for:

  1. ·Simplicity
  2. ·Affordability
  3. ·Peace of Mind

Our Portfolio is Exempt from PPACA mandates, giving you the flexibility to choose the coverage options that work best for you, your family…..and your budget!

What Does PPACA Mean for ME?

“Accessibility” Vs. “Affordability”

PPACA makes health insurance “accessible” for more people. Unfortunately PPACA does not make health insurance “affordable”.

  • “The IRS estimates that be 2016, the lowest level Qualified Health Plan for a family of 5 will cost at least $20,000 per year”.

The Wall Street Journal estimates premiums could be as much as 50% higher than current rates on some plan as early as January 2014

Won’t I get Help Paying for My Plan?

Premium Assistance Tax Credit (Subsidies) for “exchange” purchases depend on your income level available to individuals and families at 100% - 400% of Federal Poverty Level:

  1. ·Individual- $43,320 maximum annual income
  2. ·Family (4) - $88,200 maximum annual income

Do I have to buy my Insurance on the Exchange?

No. However, beginning in 2014 most Americans will be required to purchase or maintain existing “Minimum Essential Coverage”, or face a penalty/tax generally calculated as follows:

  1. ·2014- The greater of (i) $95 per adult and $47.50 per child (maximum $286 per family) or, (ii)1% of household income.
  2. ·2015- The greater of (i)$325 per adult and $162.5o per child (maximum $975 per family) or, (ii) 2% of household income
  3. ·2016- The greater of (i) $695 per adult and $347.50 per child (maximum $2,085 per family) or(ii) 2.5% of household income
  4. ·After 2016, the penalty will be adjusted annually for cost of living increases.

  • Although Subject to tax penalty, the lower premiums associated with the purchase of PPACA Exempt Products may actually result in SIGNIFICANT SVINGS vs. the cost of an Essential Benefits Plan.

Let me build a Custom Tailored Plan of Coverage for you!

Jason Greif
Independent, Local, Licensed Health Insurance agent
US Health Group

Cell (813) 309-2208 | Fax (813) 200-2208 | Office (813) 349-8997 |  This e-mail address is being protected from spambots. You need JavaScript enabled to view it


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