Day 13: Today's Important Thing to know about Health Care Reform

Today’s thing to know is about grandfathered plans.  By now, most of you should know whether your health insurance coverage through you employer is going to continue into 2014 and what it will cover.  Plans offered by your employer are considered creditable plans but may not cover the ten standardized categories mandated by the Affordable Care Act.  The reason they don’t have to cover those items is because they are grandfathered plans or plans that were in place when the law was enacted in March of 2010.  As long as the plan is not changed, it may remain as it is.  The only thing that can change is the premium.  Now, you may also be a person who has purchased their own private health insurance.  If you haven’t already, you will be receiving from your insurance carrier a letter outlining your options to continue or change your coverage for 2014.  If you need help decide what your best option may be, contact me.

Day 6: Today's Important Thing to know about Health Care Reform

Today’s thing to know is how to purchase creditable health insurance.  For people fortunate enough to have health insurance provided through an employer, not much will change except perhaps the premiums.  Most employer plans will be grandfathered for at least some period of time.  Grandfathered plans will not be required to provide the standardized benefits that we discussed yesterday.  If you provide your own health insurance or currently have no health insurance, you can purchase the new health insurance through the federally facilitated marketplace or through a public marketplace.  Tennessee opted out of having its own marketplace.  Through the federally facilitated marketplace you can purchase health insurance and, if you qualify, you can receive tax subsidies from the government to pay a portion of your premiums.  You can access these marketplaces online or via your local, FFM-certified insurance broker, like me.  Tomorrow we will discuss the tax subsidies and how you qualify.