Health Insurance Marketplace Q & A

With the health care mandate under the Affordable Care Act (commonly referred to as Obamacare) on the horizon, many questions abound. As of January , !" # most Americans $ill be required to carry health insurance or face a %enalty. &n res%onse, ' states and the (istrict of Columbia ha)e set u% health insurance e*chan+es throu+h $hich eli+ible indi)iduals can com%are rates and %urchase health %lans. &n the !, states that elected not to set u% e*chan+es indi)iduals $ill be able to %urchase insurance throu+h a federal e*chan+e. -eo%le $ho already ha)e affordable co)era+e throu+h an em%loyer.s%onsored %lan $ill +enerally not need to do anythin+. /elo$ $e address some questions surroundin+ the health insurance mar0et%lace. 1his is not an e*hausti)e list, but rather %ro)ides ans$ers to some of the most common questions. Who is Eligible to Buy Coverage through the Healthcare Marketplace? Any American citizen can o%t to %urchase health insurance throu+h the mar0et%lace, ho$e)er not e)eryone $ill necessarily qualify for a subsidy to hel% co)er the cost of co)era+e. &ndi)iduals $hose income is less than around 2#',""" or 23#,!"" for a family of four may qualify for a subsidy. When Will I Have to Buy Insurance Un er the !e" #a"? 4ost Americans $ill be required to ha)e health insurance by January li0e 4edicaid, and others. When Can I Buy Coverage through the E$change an When is My %irst &ay'ent (ue? 5nrollment be+an October , !" 6 and indi)iduals ha)e until 4arch 6 , !" # to enroll, ho$e)er %eo%le $ill need to ma0e their first %ayment by (ecember 7, !" 6 in order to be co)ered $hen the mandate ta0es effect. Ho" (o the &lans through the E$change Co'pare to My Current)%or'er &lan? 1he %lans throu+h the e*chan+e are offered on a tier.based system and include bronze, sil)er, +old and %latinum le)el %lans. 1he %lans $ith the hi+her )alue metal co)er more but ha)e a , !" #. 5*ce%tions include seniors on 4edicare and those $ho qualify for state and federal assistance %ro+rams

hi+her %remium, $hile the %lans $ith the lo$er )alue metal co)er less but ha)e a lo$er %remium. 8amiliar ty%es of %lans such as 94Os and --Os $ill be offered throu+h the %ro+ram. &nsurance com%anies cannot deny co)era+e based on %re.e*istin+ conditions and all %lans must co)er " essential health benefits under the la$, includin+ emer+ency and hos%ital care, %rescri%tion co)era+e and more. What is the &enalty I* I (on+t Have Insurance? 8or !" # the %enalty for not ha)in+ insurance is 237 %er adult and 2#,.7" %er child, or out at !.7 %ercent of ta*able income. Where Can I ,ign Up? &f your state has set u% an e*chan+e you can si+n u% throu+h the state.run $ebsite, or if you li)e in a state that did not set u% an e*chan+e you:ll need to si+n u% throu+h healthcare.+o). ;esidents of California can si+n u% throu+h Co)ered California, or contact an e*chan+e certified a+ency. /enefit -ac0a+es is e*chan+e certified and our a+ents are s%ecially trained on the healthcare mandate. We can hel% you understand your o%tions for affordable co)era+e both inside and outside the e*chan+e, and $e $or0 $ith re%utable carriers li0e Anthem /lue Cross and /lue <hield of California. 1here is no time to $aste=enrollment be+an on October , !" 6. Contact us today to si+n u% for co)era+e before the January , !" # deadline at .>"".67'. 6' 7 or )isit our $ebsite. %ercent of ta*able income, $hiche)er is +reater. 1his $ill increase as time +oes on, e)entually ma*in+