Some Americans are putting their health insurance needs on the back burner until the media reports all Obamacare website glitches are gone. Whether that keeps you away or not, here are 5 things you can do right now to secure the best healthcare options for you, your family or your business.
1. Find out if the State you live in runs its own healthcare website. Not all States are using the federal government’s website (healthcare.gov). In fact, only 27 States are using the federal marketplace. The rest have either established their own separate site or a combination of the two. While many of the State-based websites have had their own issues, some of them, like New York, are operational and have been successful in helping residents choose their health plans. To determine if you should be using healthcare.gov or another site, contact your State’s Department of Insurance or check out this link http://www.kff.org/state-health-marketplace-profiles/
2. Determine if you or your business will qualify for a tax break. The online exchange will provide some consumers with tax subsidies to defray the cost of their health insurance premiums. Some small businesses will also be able to get a tax credit. However, not everyone will qualify. In order to qualify for an individual subsidy, you must have a household income that is not more than 400% of the Federal Poverty Level. Businesses can get tax breaks if they offer health insurance though the marketplace, pay 50% of the employee’s premium, have fewer then 25 employees and pay their employees and an annual salary of $50,000 or less. If you have having trouble using a state or federal healthcare website, you can use several online calculators to help verify your eligibility and amount of tax relief.
3. Be prepared to compare apples to apples. Too many consumers and business owners choose insurance based on price alone, only to find that it cost them big bucks on unpaid (or under paid) claims. The new marketplace will provide a variety of choices in price, carrier and coverage. If you have health insurance now, call your insurance company and request a copy of your current Benefit Summary. This way, you can make an informed comparison of benefits and accurately choose the plan most valuable to you.
4. Investigate voluntary benefits for a safety net. Supplemental voluntary benefit plans provide cash benefits directly policyholders. They can work together with health insurance to provide an affordable layer of protection for out-of-pocket costs, and loss of income due to an illness or injury. These plans can be purchased through a licensed health insurance agent rather then through the online exchange. Examples of voluntary plans include critical illness, disability income, cancer care, life insurance and others.
5. Get some free advice. Health insurance options can be confusing. It’s crucial to know how your plan will work. For example, understanding what procedures are subject to deductibles, knowing whether deductibles apply to each family member separately, determining if certain out-of-network providers will be covered and figuring out your total potential out-of-pocket costs are just a few of the important components you will need to be comfortable with. Licensed health insurance agents and brokers can help. They deal with these concepts everyday, can review your options, and most don’t charge a fee! Even better, they may have access to additional plans that are not available online.
For obtain more information or gain access to any of the programs discussed, please contact The Fonti Group:
Phone: 631.393.6881
Fax: 888.839.0977
Email: barbara@fontigroup.com
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