Individual / family coverage has been the most talked about insurance for several years now, due to the effects of the Affordable Care Act (ACA), which is commonly referred to as Obamacare. While the policies provide valuable protection for you and your family, the changes have caused a rapid increase in the cost of the coverage. The law mandates that you have a qualified policy, and penalizes you if you do not. If you have a gap of 90 days or more without a “qualified” plan, there is a tax penalty for 2018. For 2019 the penalty is no longer in effect.
There is no additional cost for you to have an agent represent you. The insurance companies charge you the same amount with or without having an agent represent you. An agent can help you find the best plan for the year, assist with claims issues, and also assist with billing issues.
If your income fits within set parameters, you may qualify for financial assistance in the form of an “advanced premium tax credit”. This tax credit is available to those who qualify, by way of a reduction in the monthly cost for your health policy. You go through the steps on the http://www.healthcare.gov website, and then find out if you qualify. This is when we would want to talk. After you find out whether or not you qualify, we can then look into which company and plan best meets your budget and healthcare needs. If you would like for me to be your agent, you will need to provide the following information when you apply on http://www.healthcare.gov. They ask if someone is assisting you, and this is where you would enter my information.
My name: Jerrell L. Mitch
My business name: Apex Insurance
My NPN number: 6258436
To see if you qualify in general for a tax credit, please click on the blue Federal Marketplace link on the right margin of this page.
If you do not qualify for the tax credit, you have other options. You can purchase “direct”, which means that we apply directly with an insurance company. There are also some alternative products that some people may qualify for. The Share Programs are one option, that some may qualify for. They are discussed in the next section.
It is very important that we talk about your situation before you do anything, so that you do not waste your time pursuing the wrong plan.
Christian Share Programs
There is an alternative to purchasing a qualified individual or group policy. Christian share ministries are considered qualified by the ACA law (Obamacare). These programs do meet the requirement to have qualified coverage, so you would not be responsible for the tax penalty. There are five programs that existed prior to the ACA law going into effect, which will qualify through the ACA. No other programs will be allowed. One of these programs has the best design compared to the others.
Medi-Share is the name of the program, and they are now available through some agents. These programs are not insurance, nor does Medi-Share guarantee coverage. You pay a monthly share instead of a monthly premium. There is an annual household portion, which is similar to a deductible. This is the amount of bills that you cover on your own, before your bills can be shared. The shares you pay go into your share account, and are then dispersed to those in the program who have sharable needs. Unlike the other Christian sharing programs, Medi-Share doesn’t have an annual or lifetime maximum amount that can be shared. The idea is that those in the program follow the biblical model of sharing each other’s needs, and praying for each other’s needs. This program has always met the needs of those who have joined the program. The program is designed by those who share in it, as you will have a vote on how the program functions. The program does utilize a national network of preferred providers to control your cost to the program.
Short Term Medical Coverage
This year the federal government changed the law, allowing short term medical policies to cover you for the entire year. However, the State of Oregon decided NOT to allow a short term medical policy to last longer than 90 days. If you live in Oregon, this is still not a viable way to lower your cost of coverage.
If you would like a quote for a short term policy, to cover a short term need, please contact me at firstname.lastname@example.org . I can send you a custom quote, and you can sign up through a link in my reply email.
Taking care of your dental health is very important to your overall health. The cost would start at around $40 per person per month. This coverage is high quality, but there are waiting periods for the more expensive treatments. If you were covered by another dental policy for the last year, the waiting period may be waived. Otherwise, dental plans have a six month to one year wait for the more expensive services. Pacific Source sells their dental policies year round, but you have to purchase a MODA Health / Delta Dental policy during the annual individual plan open enrollment. The open enrollment runs from November first through December fifteenth.
This insurance product is often overlooked by families, and is usually very affordable. If you or a loved one were suddenly gone, what expenses would cause a problem to your family? The loss of a family member’s income can cause severe budget issues, and some very tough decisions. Some of the areas of concern would be the mortgage or rent payment, automobile loans, student loans, credit card bills, and other consumer debt. The future or current cost of college for the children. Monthly income for your family. The cost to cover these needs is very low for most people. The cost if you don’t have this coverage is definitely life changing.
Insuring your paycheck is quite valuable. What important things would go away along with your income? This is not the easiest product to obtain, but is invaluable in protecting your way of life.
Long Term Care Insurance
This product covers the cost of a nursing facility, or the cost to be cared for in your own home. Those with a family history of Alzheimer’s, Dementia, or Stroke, should definitely look at this type of insurance plan. Many others will have a need for long term care insurance as well, but these types of conditions raise your need to a higher level. End of life conditions quite often require long term care, and this product would be an obvious help in saving the finances of your family.
If you have any further questions, feel free to call me or submit a request for me to contact you below.