Early Saturday morning, the Senate voted to pass the Republican Party’s sweeping tax reform bill, and among other provisions, the bill would eliminate the penalty for not buying health insurance starting in 2019.
So next year, you still need to be covered — at least, as of now.… Read the rest
Last week, the President took a number of actions that will impact the individual and small group markets.
Cost-Sharing Reduction Payments – The President instructed the administration to stop making cost-sharing reduction payments (CSR payments) to insurance carriers. While many carriers have either raised rates or exited markets in anticipation of this action, the fact that the President confirmed that the payments will no longer be made, changes the ground rules under which carriers have been operating since the ACA was implemented.… Read the rest
Here is some helpful information regarding this year’s open health insurance enrollment period.
Changes to the 2017 Open Enrollment Dates
In 2018, the federal government’s current rule changes the open enrollment period from roughly 90 days to 45 days. Though this change could be interpreted as an effort by the Trump administration to depress enrollment, such a reduction was already legislated for 2019 and beyond in the Code of Federal Regulations/Department of Health and Human Services (45 CFR 155.410).… Read the rest
At a press event today, Covered California announced rates and plan participation for 2018. The weighted average rate increase is 12.5 percent this year, and all 11 health insurers will continue to offer coverage.
It should be noted that given the uncertainty surrounding the cost-sharing reduction (CSR) payment, Covered California may need to add an additional 12.4 percent surcharge on all Silver plans.… Read the rest
A growing number of people in Obamacare are finding out their health insurance plans will disappear from the program next year, forcing them to find new coverage even as options shrink and prices rise.
At least 1.4 million people in 32 states will lose the Obamacare plan they have now, according to state officials contacted by Bloomberg.… Read the rest
Source: The New York Times
When the Affordable Care Act’s health insurance marketplace opens in two weeks, many consumers will have a new option for the law’s fourth open-enrollment period: standardized health plans that cover basic services without a deductible.
With many health plans on the marketplace coming with deductibles in the thousands of dollars, consumers have complained that they were getting little benefit beyond coverage for catastrophic problems.… Read the rest
We are pleased to announce the addition of Tokio Marine HCC short term medical and international medical coverage. If you are in between coverage and are unable to enroll in a health insurance plan prior to open enrollment, or if you are planning on traveling internationally, contact us for a quote.… Read the rest