Health Insurance – Medicare Annual Election Period & Health Care Reform (Obama Care) 2016 Open Enrollment is starting soon. Don’t be fined or miss your opportunity to change. Subsidy or No Subsidy it may apply to you!

By Ulla-Undine Merritt (Dee) National Producer Number (NPN) 8853366

Medicare October 15th-December 7th 2015 for January 1st, 2016 effective date.
Everyone on Medicare should be looking at their Notification of Change booklets that you received from your current carriers. This applies to Medicare Advantage Plans and Part D, an annual review of your policies is always highly recommended. Medicare Advantage Plans change every year and many are charging a premium. In most cases you cannot be turned down regardless of your health, so you should never feel trapped in a plan you are not happy with.

You may qualify for extra help with your drug cost and not even know it. *In 2015, drug costs for most people who qualify are no more than $2.65 for each generic/$6.60 for each brandname covered drug. (In 2016, costs are no more than $2.95 for each generic/$7.40 for each brand-name covered drug.) Other people pay only a portion of their Medicare drug plan premiums and deductibles based on their income level. In 2015, you may qualify if you have up to $17,655 in yearly income ($23,895 for a married couple) and up to $13,640 in resources ($27,250 for a married couple). www.Medicare.gov working with an Insurance Broker that represents multiple insurance companies can help you analyze which plan might be best for you. Everyone is different, you should rely on a professional not just a friend or a neighbors recommendation. We will be hosting complimentary seminars in Fort Myers @ Pinchers Crab Shack 1260 West First Street, Fort Myers, FL 33901, and other locations along with private appointments. You can call our office to schedule your appointment 239-362-0855.

The law under the Patients Protection and Affordable Care Act (PPACA) – (Obama Care) the Open Enrollment Period is November 1st to January 31st, 2016, those that enroll between November 1sth to December 15th will have a January 1, 2016 effective date; Dec. 16th – Jan. 15th eff. Feb. 1, 2016; Jan. 16th – Jan. 31st eff. Mar. 1st 2016. After that you will not be permitted to purchase health insurance that meets the government standards that avoids the tax penalty, unless you have a special election period, please visit https://www.healthcare.gov for more information. The PPACA plans have no medical underwriting; short term policies are still available but currently still require medical underwriting which means you might be turned down if you have pre-existing conditions, or that condition may NOT be covered if a reoccurrence may happen. I am finding that many people think that the Affordable Care Act is only for people that are seeking government subsidy and that is not correct. The law affects just about every type of health insurance in the USA. In order to qualify for government subsidy you need to go through the Market Place, or if the Insurance Carrier offers seamless applications through their platform it can be done that way as well. To see if you qualify for tax credit you can check the IRS website at http://www.irs.gov/uac/The-Premium-Tax-Credit. If you do not qualify for subsidy you can still purchase your plan through the Market Place or the Insurance Company, both available with the help of a local agent by adding their name and National Producer Number (NPA). If you have an insurance policy for many years and drop that plan, you will not be able to get it back as the plan will no longer exist to be re-purchased. Some insurance carriers are allowing their policy holders to keep their current plan, others have issued cancel notices. Before you cancel what you have, make sure that you check to see if your doctors are in network as this has been a big problem since 2014, along with people not being satisfied because they did not totally understand the plans “Summary of Benefits”. Cost is important but not only the cost of the plan you choose but make sure you can afford the out of pocket cost when you need to use the plan, sometimes raising the premium a little may make it easier to visit the doctor more often as needed. Qualified High Deductible Health Plans (H.S.A.) plans also have a tax advantage. You need to do the math, explain your needs both health and financial with a licensed insurance agent. Check to see how many companies they represent, if they only represent one ok guess what you get? There are a lot more choices in 2016, if what you have turns out to be the best great. Remember you can make as many changes as you need up until January 31st 2016 for the 2016 Plan Year. Don’t just settle because it’s confusing, call a professional.

There is a lot to know and I would recommend that you work with a licensed insurance professional that is Market Place Certified, that can help you through the enrollment process and explain the different insurance policies available to you in your area.

To learn more about Health Care Reform or schedule an appointment contact:
Logical Insurance Solutions- Dee Merritt www.Logicalinsurance.com 239-362-0855