Thursday, November 21, 2013

Health Care Reform School - Lesson 23 - What should I Do?

Hello everyone, this post will cover the crazy world of Healthcare Reform from a perspective of the individual.  This is not from a political point of view, but rather a practical view point.  Many people are wondering "What should I Do?"

This is a big question especially with the recent televised apology from President Obama and his odd request that the insurance companies re-instate people that have had their policies cancelled and that they extend existing policies for another year.  I will give one piece of advice on this. 
  • Don't count on changes to be made in a week that have taken three years to affect! 
What I mean is that an insurance company that has cancelled and individual policy probably is not going to pick it back up.  And a company that has not extended coverage on existing polices through next year already, will have a hard time making the change that the president requested.

There are already companies that have been working on this strategy of extending existing policies through the end of next year. This is exactly what I have been helping my clients do for the last 6 months.  It is a strategy that makes sense, which is get covered with good insurance that is less expensive and wait out the first year of the law to see how they work out all of the details to make it actually affordable.

So what you should do is get coverage before December 15th.  Call an insurance broker like myself for assistance.  It is too important and too complicate to leave it chance.

To give you a basic idea of the legal requirements, check out the attached flow chart from Blue Cross about who need to get covered to comply with the law.  "Do I need to get insurance"

Good luck and don't hesitate to contact me if you have questions.

To learn much more about Healthcare Reform, review any of my previous blogs.
Lesson #1 - Introduction
Lesson #2 - Basic Reason for creating the Patient Protection and Affordable Care Act
Lesson #3 - Public exchanges for Purchasing Insurance
Lesson #4 - Essential Health Benefits that will be added to all Health Insurance policies in 2014
Lesson #5 - Tax Credits to Help Pay for Health Insurance
Lesson #6 - Enforcement and Penalties in the Affordable Care Act
Lesson #7 - Preparing for the Affordable Care Act
Lesson #8 -  Options for Small Businesses
Lesson # 9 - Will my Insurance Premiums change in 2014?
Lesson #10 - What Will Happen to Small Groups in 2014?
Lesson # 11 - Why Should I Buy Insurance Before the Deadline?
Lesson #12 - What does the Delay in the Employer Mandate Really Mean? 
Lesson #13 - Can I keep my Current Health Insurance Plan?
Lesson # 14 - Who is Providing Insurance During Open Enrollment?
Lesson #15 - Out of Pocket Spending Limits - Law Change
Lesson 16 - SHOP - Marketplaces for Small Businesses 



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