Hello November, it’s time to enroll!
November brings two things: Thanksgiving and ACA open enrollment. While we can’t provide you with a gathering of family and friends to enjoy a meal with all the fixings, we can provide you with the information that you need to make a wise choice for yourhealthcarein2021.
The ACA Marketplace will continue with all of the same carriers that you know and love: Blue Cross Blue Shield, Molina, Ambetter and, as of last year, Oscar. But this year, we will have two more carriers added to the mix, Friday Health Plans and Scott & White Health Plans. While we are welcoming back Scott & White, Friday is new to our area and we look forward to showing you everything they both have to offer.
Common ACA Questions
A few of the questions that we get most often are these:
What is a subsidy? Americans living with an income between 100% and 400% of the Federal Poverty Level are entitled to a subsidy to help pay for their insurance premiums under the ACA.
OK, but what IS it? A subsidy is money paid from the government on your behalf to the insurance carriers to help cover the cost of your healthcare premium.
What income do I have to include to qualify for a subsidy? While we can’t list everything here that should be included, you do need to include money earned by everyone in the tax family. So, if you are married you must include the income earned by both you and your spouse.
But my spouse isn’t applying for coverage. Do I still have to include his/her income? In a word, yes. If your spouse has coverage through Medicare, an employer, or is unable to apply for any other reason but brings money into the household, those earnings must be included.
I’m offered insurance at work, but I don’t want to take it. Can I get coverage through the ACA instead? If you have job-based coverage, you might be able to change to a Marketplace plan. But, as long as your job-based plan is considered affordable and meets minimum standards, you won’t get a subsidy and will be paying full price.
Are there plans that are not part of the ACA? Yes! We have multiple plans available that are not part of the ACA. You can qualify for them at any time of the year and don’t have to wait for open enrollment. You will be subject to underwriting, though. This allows the company to look at your medical history and decide if they want to cover you or raise your rates.
As you can see individual coverage can be really complicated. Our agents at the Enrollment Store can help answer your questions and guide you to the plan that’s best for your situation. Give us a call!