Important ACA Reminders for Group and Individual Health Plans

Date: Nov 6, 2017
By: Basi Insurance
In: ,

Cost-Sharing Reductions Halted

In October 2017, President Trump signed an Executive Order ending the Affordable Care Act’s (ACA) cost-sharing reduction payments to insurance companies effective immediately.

For employers and group plans: The direct impact of this decision was minimal.

For individual health policies (including Covered California): Be aware that lower co-pay and deducible plans, such as the Silver 73, 87 and 94 Plans, could be eliminated or changed. Insurance companies may ask you to choose a different plan and will contact you directly if there are any changes.

Premium Subsidies Left Unchanged

If your household income is 100% — 400% of the Federal Poverty Level, you may be eligible for subsidies that reduce premium costs.

If your household income is 100% — 400% of the Federal Poverty Level, you may be eligible for subsidies that reduce premium costs. Please be sure to review the 2017/18 Federal Poverty Guidelines to see how you may be affected. For example, a family of four may be eligible for some type of assistance with income up to $98,400.

Final Days to Enroll

The last day to sign-up during the 2017 Open Enrollment period is:

  • Medicare: Thursday, December 7th
  • Individual: Friday, December 15th

Call us with any questions about these important health coverage topics: 209-847-3065.

 

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