Should you keep your Grandfathered health insurance plan? What is a Grandfathered plan? Why some will benefit from buying a 2013 plan while they are still available.
This post will focus on purchasing a 2014 health insurance policy off the health insurance exchange. These plans are compliant with the Affordable Care Act. This means that you avoid the tax penalty. However, you cannot get a subsidy if you purchase an off exchange policy.
What is best for you. Should you purchase on the Connecticut health exchange, off the exchange? Should you keep your old policy? This is the first post in a series of three that explores those options.
(If you haven’t decided whether you want to buy through the exchange call us or read Health Insurance Exchange – CT Buying Option 1 to see if this is the best option for you.) This post explains the first steps you need to take to get prices or to enroll in an Obama Care policy
By the time you read this the “obamacare” state Exchanges or marketplaces should be up and running and our agency expects to be able to help you buy health insurance plans through the Connecticut Exchange. As far as I know, agent compensation will be the same on and off the Exchange. I added this preface
The Affordable Care Act or “Obama Care” started in 2010. However, when people today ask “when does ObamaCare start”, they are usually referring to one of two things. The first is the open enrollment period that started on October 1, 2013. The second is the earliest date that policies purchased during the first open enrollment period can become effective. That date is January 1, 2014.
Having to tell someone that they are to heavy or too sick to qualify for insurance at any cost is the most noxious thing I have to do. The emotional impact that this has on me is often profound but always transitory. I realize that I am just visiting this reality, but the people I speak with live there. Obamacare will have an impact on this.
In order to qualify for a subsidy, an individual will be required to purchase through an exchange. You can use the same broker you have used in the past providing he or she is certified to sell through the exchange. (Our agency will be!)
You probably know that health insurance is changing due to the legislation known as Obama Care or Obamacare. And you are probably wondering how the new mandates work and how they will impact you and your family.