Health Care Reform – How’s it working for you so far?

1. Were you one of the 6 million Americans who lost their coverage December 31, 2013?
2. Were you able to navigate Covered California?
3. Were you eligible for a subsidy?
4. Did your new premium double or triple from what it was last year?
5. Did your deductible double or triple?
6. Were you enrolled in a timely manner?
7. Is your new insurance company easy to work with?
8. Is your doctor still contracted with any insurance company?

Typical Obamacare reality questions

1. Do I have to enroll in health coverage?  Yes, unless you are exempt.  Examples of who is exempt include: you are incarcerated; member of an Indian tribe; in the country illegally; covered under a military or employer sponsored plan; Medi Cal; or expressed religious objection.
2. What is the fine if I am NOT exempt and elect to NOT have health insurance? The annual tax is the greater of a flat dollar tax amount per individual or a percentage of the individual’s taxable income. Seek counsel from a tax professional.
3. What is the flat tax for individuals with no health insurance coverage?  For 2014: $95; 2015: $325; and increasing to $695 in 2016. It is anticipated that the penalty will continue to increase.
4. Who is eligible for Medi Cal and who is eligible for a Premium Subsidy?   Medi Cal is a Federal program offered to low income individuals. If your annual income is below $15,860, you may be eligible for Medi Cal.  Premium Subsidy is a state program and you may be eligible if your annual income is between $15,860 and $45,960.  To enroll in either plan, you must go through Covered California.
5. Can I enroll in individual coverage any time?  No, only during the annual enrollment or if there is a life event.
6. When is annual enrollment?  October 15th – December 7th for a January 1 effective date.
7. What is a life event?  A life event triggers a special enrollment in individual coverage outside the annual enrollment period.  Examples include birth, marriage, divorce, and loss of group coverage.

Rivkin Insurance provides comprehensive analysis of Health Insurance, Medicare & Long Term Care for individuals & businesses with 2-100 employees. Healthcare Insurance has become even more confusing with the passage of the Affordable Care Act; we help our clients remain in compliance