Federal subsidies make monthly premiums affordable so
avoid some common errors while signing up for health insurance. Consumers should research for the right plan before
they enroll themselves for a health insurance plan. Open enrollment is open till February 15th; they should look for a plan which reduces their
premium by offering a tax subsidy.
Health insurance subsidies are given out to household
incomes which typically fall between 133% and 400% of the federal poverty level
or up to about $46,000 for a single person or $95,000 for a family of four.
Applying for subsidies can be a bit of a challenge.
Health Plans Leave Special Children Without Important Benefits
The ACA's EHB has resulted in a state-by-state patchwork of coverage for children and adolescents and has significant exclusions.
Advertisement
Carrie McLean, director of customer care at eHealth.com, an online health insurance exchange based in Mountain View, California feels one should not get carried away with the deductions in the open enrollment. "When applying for health insurance premium subsidies, applicants are sometimes tempted to treat the process like doing their taxes and get a little over creative with their deductions," she said. While you should report any deductions that are appropriate, be aware that adding too many can push your income too low; in that case, you may no longer be eligible for subsidies, but potentially eligible for Medicaid instead.
"
![Premium Rates for 2015 Health Plans Under ACA Still Fluctuating]( "Premium Rates for 2015 Health Plans Under ACA Still Fluctuating")
We will have to wait and see whether the healthcare premiums increase or even decrease in the coming year.
For changes in your income inform the insurance company or enrollment agency, said Michael Mahoney, senior vice president of consumer marketing for GoHealth, a Chicago-based online exchange for health insurance. The amount of subsidy can be adjusted.
Choose your plan - keeping your personal details and dependents in mind. The eligibility of the subsidy is based on your household income and the people who will be covered by any plan you may choose to enroll in. The information you supply in your subsidy application will be double-checked against government records. Source: Ellen Chang
Source: Medindia
Premium Rates for 2015 Health Plans Under ACA Still Fluctuating
We will have to wait and see whether the healthcare premiums increase or even decrease in the coming year.
Advertisement
For changes in your income inform the insurance company or enrollment agency, said Michael Mahoney, senior vice president of consumer marketing for GoHealth, a Chicago-based online exchange for health insurance. The amount of subsidy can be adjusted.
Choose your plan - keeping your personal details and dependents in mind. The eligibility of the subsidy is based on your household income and the people who will be covered by any plan you may choose to enroll in. The information you supply in your subsidy application will be double-checked against government records. Source: Ellen Chang
Source: Medindia
New Companies Ready to Offer Health Plans in Washington’s Exchange
With new companies providing independent health insurance in Washington will increase the plans and choices for the people.
Advertisement
 Mandated Coverage of Birth Control in Health Plans Supported by More Than Two Thirds of AmericansMandated coverage of birth control medications in health plans has been supported by nearly 7 in 10 Americans in terms of survey conducted by researchers | Advertisement
|
Advertisement
Recommended Readings
Latest Health Insurance News
The Medicare Benefits Schedule Review Advisory Committee (MRAC) is seeking input on the recommendations as part of its broader review of Medicare-funded telehealth services.
As a growing number of individuals with Down syndrome reach advanced ages, the Medicaid system should be prepared to deliver customized healthcare.
Discontinuities in health insurance coverage among older Americans, who experience a higher prevalence of health concerns compared to the broader population.
The distance one must travel can pose a significant obstacle to healthcare access for people dealing with chronic neurological conditions.
Inability to afford better healthcare is apparent in the appearance of the malnourished poor, just as the obese reveal the "cost" of their health.