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Obama Care Income Limits for 2015

In this post we will explain the Obama Care Income Limits for 2015.  February 15th is the cut off to sign up for an Affordable Care Act plan (Obama Care).  In fact, after the 15th, only people with a valid special election can sign up for coverage.  Those with income below the allowable guidelines gain access to health insurance coverage at substantially lower cost than those with standard plans not affiliated with the exchange.  Those within the income limits can enjoy premium reductions of up to 90% .

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Obama Care  in Connecticut

The purpose of this post is to provide an understanding of Obama Care in Connecticut to help consumers make a better decision when they decide to enroll or not.    Our office is registered to advise the general population on which plan may be best for them and to process an enrollment in person or over the phone. Please review the list of bullet points below and call or email if you have any questions.

• Obama Care is run by Access Health in CT.  Prospective members sign up for the plan through the Access Health website.  Once you register, you can complete and submit an application.  Access Health then sends the insurance company that you chose during your application process the information is then sent to the insurance company that was chosen during the application process.  This will then prompt them to send out a monthly bill as well as ID cards.
• Subsidies are available to those within the income guidelines.  They are automatically applied to the premium and the bill received in the mail will be reduced by the amount of monthly subsidy being received.  Subsidy levels depend on the total annual income of the family and the number of family members.  They do NOT look at prior year income but look at current years income.  A person applying in 2014 is going to be provided or not provided a subsidy based on their 2014 income not prior years income.

• Subsidies levels are as follows:

• Single person under $45,960 adjusted gross is eligible for a subsidy.  A family of 4 under $94,200 is eligible for a subsidy.    For an example of the amount of subsidy provided we can use a 61 year old male.  At $47,00 annual income he is not eligible for subsidy and would pay $691 a month for a silver plan.  At $32,000 of income that same person would only pay $150.09 a month for the same silver plan.   A family of 4 making $96,000 a year would pay $1217.22 a month for a silver plan while a family of 4 making 52,000 a year would pay $217.00 a month for the same plan.
• Subsidies are only available by applying through Access Health
• Current companies offering plans are Anthem BCBS, Connecticare and Healthy Partners.  United and Harvard Pilgrim will  also be available in 2015
• Anyone can enroll in Obama Care but only those under the income level will get a subsidy

• The company sends a paper bill every month.

• The doctor networks are smaller than the normal networks.  We have found that the companies Obama networks have about 70% of the doctors that are in the companies normal networks.
• For those under the income guidelines, this is the lowest cost insurance they will be able to buy on an individual basis by a substantial amount.
• The benefits of the Obama Care plans are more comprehensive than the comparable plans out on the open market
• Obama Care will base your income on the total family income, even if the whole family does not enroll in the plan.

You can either call or email us with any questions or help enrolling.  We do not charge a fee for help with enrollments.  The insurance companies pay us directly.  The rates are the same with or without our assistance enrolling.   Office number is 203-796-5403 or email Edward@croweandassociates.com

Access Health Reform Plans Connecticut

This post has some information about the Access Health Reform Plans Connecticut.  Access Health is the administrator of health reform plans through the Exchange in Connecticut.  They administer as well as oversee the enrollment process for those applying for a health reform plan through the health exchange. (Also known as Obama Care) Anyone can apply for insurance through the exchange but not all people are eligible for a premium subsidy.

This post will provide an overview of health reform plans, the enrollment process and premium subsidies in Connecticut. Please note this information is only applicable to Connecticut and is not applicable to any other state.

If you need a quote, want to enroll or have questions not addressed in this blog CLICK HERE   or call us at 203-796-5403

Health Exchange Plans – Important Things To Know

• Three companies participate in the Individual Exchange. They are Anthem BCBS, Conneticare and Healthy CT.
• You must go through the Access Health Website in order to apply for a plan through the exchange.   www.accesshealthct.com
• Premium subsidies are available to those that make below the income thresholds.  Premium subsidy simply means the Government/state will pay a portion of your monthly premium.
• These premium subsidies are only available to those on the Exchange
• The lower the applicants 2014 income, the higher the monthly subsidy they will receive. (Rates are based on your 2014 income)
• If income falls below minimum levels, the applicant and/or dependents may be placed on Husky A,B,C or D

Network Information

• The networks for the plans participating are NOT the same as their networks off the exchange.  For example:  You can not assume you doctor participates with Anthem on the Exchange just because he/she participated with Anthem off the Exchange.
• The Husky A and B network (Children enroll in A and B) has many more providers than Husky C and D (Adults enroll in C and D)

Enrollment Information

• You must apply through the Access Health website in order to apply for a plan on the exchange.
• Married couples must file a joint return in order to be eligible for a subsidy.
• Income will be verified in 2015.  If you under report your income, you may need to either pay back a portion or all of the income subsidy that you receive during the year.

If you need a quote, want to enroll or have questions not addressed in this blog either CLICK HERE ,  call us at 203-796-5403 or email us at Edward@croweandassociates.com.

Applying For Health Insurance In Connecticut

This post will give you information about Applying For Health Insurance In Connecticut.  Connecticut residents that do not have access to health insurance through an employer have two choices to obtain Care.  They can either apply for coverage through the health exchange or they can apply with an insurance company outside of the exchange.   Which option is better?  It depends on your specific situation but the following points below should help guide you.

Applying on the Exchange-

Applying through the Exchange is the only way to determine if you are eligible for a premium subsidy.   Subsidies are not available outside of the exchange.  In Connecticut, Access Health runs the exchange.  They run the application website, determine subsidy levels as well as send enrollment information to the carriers.   The Exchange will determine the amount you receive for your premium subsidy by using your annual 2014 Adjusted Gross Income as a base.  The income level increases for every additional family member.  For Example, a single person making $50,000 a year is not eligible for a subsidy but if they have a spouse and the total family income is $50,000 they would be eligible.  Pre-existing health conditions are not taken into consideration when applying.

Applying off the Exchange- 

A number of companies offer plans off the exchange such as Aetna, Connecticare, Anthem BCBS, United Healthcare and Cigna.  Premium subsidies are not available off the exchange. Medical underwriting is not allowed which means they can not decline someone or raise a persons rates due to poor health.   In general the rates off the exchange are similar to the rates on the exchange. However, the on exchange rates are dramatically lower for those that qualify for a premium subsidy.   One advantage of applying off the exchange is that it provides access to a larger physician network.

If you would like help with a quote or applying on or off the exchange, please give us a call at 203-796 5403  or by email at Edward@croweandassociates.com.  We do not charge any type of fee for the service.   Your rates will not change if you decide to work with us.

Health Reform Companies Connecticut

This post will give you some information about Health Reform Companies Connecticut.  There are three companies participating with the health exchange in Connecticut as of January 1, 2014.  They are as follows,  Anthem BlueCross BlueShield, Connecticare as well as Healthy CT.   Anthem and Connecticare have both been operating in Connecticut for many years.  Healthy CT is a new not for profit that is run by the State of Connecticut.

All three companies offer Bronze, Silver as well as Gold plans in the state of Connecticut. Because the benefits these companies offer are standardized by the insurance industry, they  must all have consistent plan designs. This helps  to make your decision a little easier. You just have to see which arrier offers the best pricing and used the providers you prefer .  There has been some discussion about Platinum level plans but they are not available in Connecticut this year.  Although United Healthcare does not participate in the individual exchange,  they are available through the small groups exchange however.  (Small Group Exchange is called SHOP Exchange)

Access Health operates The Connecticut Exchange.   They also operate the website that clients use in order to apply for the plans.  Access Health will also determine if applicants are eligible for a subsidy to help them pay for their coverage.

CLICK HERE TO LEARN MORE ABOUT HEALTH INSURANCE ON AND OFF THE EXCHANGE IN CT

If you have any questions, you may either email our office at Edward@Croweandassociates.com or call us at 203-796-5403.  We are here to help you make the right choice for your insurance needs.  Each person has  both different financial as well as health care needs.  Crowe and Associates wants to make you feel confident with your choice of health care options.

The major changes with Health Reform will be enacted on January 1, 2014 which will create change for small and large group employers.  While small groups are not mandated to offer coverage (There is not an inadequate or unaffordable coverage penalty for small groups) they will still see changes. Health plan renewals for 2014 will be increased 30% to 50% over the normal renewal making it very difficult for many employers to offer coverage.  The individual and small group (Called Shops) exchanges will also be available.   Ultimately, small groups will have five options for health care offerings in 2014.  All five options are reviewed in depth below. Read more