Affordable Care Act - Open Enrollment November 1 – January 15

Affordable Care Act (ACA) 

aka Obamacare

Open Enrollment

November 1 – January 15

You may have been hearing about open enrollment for the last few weeks.  That was for people over the age of 65.  Now is the time for people under age 65. 

This is going to be a challenging year when it comes to Medical Insurance, rates are going up 30 to 50%,  the current administration is determined to get rid of the Affordable Care Act aka Obamacare.

I am sure you know about the attempts to repeal the ACA,  this year things will remain the same however, many carriers will not be offering coverage and the  remaining plans may require you change your doctor.  

Good news is if your income falls below 400% of Federal Poverty Level you will still receive your premium reduction and you will not be impacted too much since subsidies or tax credits will keep your premiums under control.

          Household #             400% OF FPL 

               1                           $  48,240 
               2                           $  64,960 
               3                           $  81,680 
               4                           $  98,400 
               5                           $115,120 
               6                           $131,840 
               7                           $148,560 
               8                           $165,280 

But,  if your income exceeds these amounts prepare to be upset.  Premiums are increasing, you can expect sticker shock.   Regence, Bridgespan and Lifewise will not be offering coverage.  Many of your doctors will be Out-of-Network in the plans that remain. 

If you own a Business you may want to consider a group insurance plan.  You would have more options and access to doctors you want to see. 

There are Accident and Illness policys. These plans are not Medical Insurance but they will help with the bills.  You can get an Accident policy for under $20 per month,  or an entire family for under $50.  Many people do these plans with Medical Insurance since deductibles are so high.

There are policys for Cancer,  Heart Attack, Stroke and Critcal Illness.  These plans let you to choose how much coverage, $5,000 to $500,000 or more. 

ALLSTAR Financial Insurance is here to help you figure out what is best for you. Give us a call. 

425-814-6378

jr@allstarfinancialinsurance.com