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Health Insurance 2018: What You Need to Know

BY: Naama O. Pozniak Greeting of gratitude and joy for this upcoming Thanks Giving week-end ~  The health insurance industry has known better days. Political turmoil has created a terribly complicated situation in our healthcare market. Even as the fourth Open Enrollment started on 11/01/17, no one can predict what the outcome of this messy healthcare situation might be.The one truth we can all agree upon is that our country is in dire need of a healthcare system that works to keep its citizens on a healthy road to long and fruitful lives, without dependency on pharmaceuticals. Without a doubt, this is the year that each of us should step back and honestly look at our lives to assess how we might make healthful changes that will impact out future in a most positive way.As valued family friends and clients and part of our family, I advise all of you to take your health into your own hands in the coming year and choose a path of healing to soothe and restore your mind, body, and spirit. 

*** General Dates and Deadline:

11/01/17 marked the start of the 2018 Individual Open Enrollment period, which runs until 1/31/18.This is the once-a-year opportunity to sign up for health insurance under the individual market, effective 01/01/18. Deadline again is 12/15/17 for 01/01/18 effective date.It is urgent that you review and renew your health care plan, both for your family and yourself.Furthermore, the Open Enrollment for Medicare opened 10/15/17 and runs until 12/07/17. If you have Medicare, it is time to assess or make changes to your Part D or to your existing coverage. A major adjustment that will affect many Californians is Anthem Blue Cross’ withdrawal from the Individual Insurance Market.***Anthem Blue Cross will no longer offer individual coverage for Individual under 65 (On and Off Exchange) unless you qualify under a Grandfather Clause or are covered through your employer.If your Anthem Blue Cross individual policy is not renewing in 2018, you need to learn about your options for the New Year and the deadline is 12/15/17 for effective date of 01/01/18. On October 12, 2017, President Trump issued an Executive Order affecting the health care market. None of the items referenced in the October 12 Executive Order affect the current Open Enrollment period for 2018.We in California will keep our six-week Open Enrollment, which runs from 11/01/17 to 01/31/18. We have to stay positive and find the best solution and for each and every one of us it will be a different solution. 

*** Covered CA

You do want to check and see if you are qualify for subsidy for the upcoming 2018 year, this is really important:In reality or since we are delivering this year 2018 Open Enrollment, more consumers find plans that they can afford under the Covered CA subsidy.So if you qualify for a subsidy or as explain, your income is allowing you to receive a subsidy, please make sure to do it now.The 2018 ACA offers taxpayer-subsidized private insurance to low-and middle-income people who don’t have coverage on the job, lower cost than ever before.About 12 million people are enrolled already. This year enrollment is a twist in a year in which the Obama health law has managed to survive despite rising premiums, dwindling insurer participation and President Donald Trump’s predictions of a swift and sure demise.In this year market there is wider availability of no-premium plans that we have ever seen before. It is the unintended consequence of Trump administration actions to undermine the ACA.The president stopped reimbursing insurers for reduced copays and deductibles, available to people with modest incomes purchasing a “silver” ACA plan.This has boosted premiums for silver plans. The cost of the Silver plan was the most important for market stabilization as for the cost sharing that people receive on top of the subsidy.  Government subsidies also shot up, because they’re pegged to the cost of silver plans. While the White House also announced that it would no longer be making CSR (Cost Sharing Reduction) payments to carriers in ACA marketplaces.In response, Covered CA added a 12.4% surcharge to the Silver Option, in an effort to stabilize and cover the loss. No other change will take effect in the upcoming 2018 healthcare market. 

*** Private Market

Regrettably, the 2018 rates for the Private individual market have skyrocketed and were tremendously effected by the Executive Order. *** There will be smaller networks, higher premiums, and higher out-of-pocket expenses.Unless you are willing to switch doctors, you will experience a severe rate hike of 20% to 48%. This is among all carriers, including Kaiser Permanente. Nevertheless, Californians are fortunate to still have so many carriers options including Blue Shield, Oscar, Kaiser, Health Net, Molina, and LA Care. Numerous other states don’t offer nearly as many choices and their options are quite limited.As ever, Employer Group Benefits remain the best coverage available, with the strongest networks and employer contributions. You should feel very grateful and lucky if your employer offers you full coverage through a PPO Or HMO network. 

***Employers

Most small and large employers are renewing their benefits now for effective date: 12/01 and 01/01. Please take the time to review your employer benefits and compare it with your spouse and open market. We are going into a tough year for the healthcare industry. I am still a believer of the HSA, HDHP option (Health Saving Account, High Deductible Health Plan) so at the very least you can gain an advantage on your taxes.In addition, I invite you to look into smaller networks of doctors, such as some HMO options or EPO for Oscar Health.Penalties will continue to be enforced for those who do not purchase health insurance, so be sure to get moving on this right away.Unfortunately, the health insurance market is likely to get worse before it gets better.I am positive that a change is on the horizon. I invite you to visit us at A+ Insurance Services and follow up with us so we will help you to examine your options and guide you to the best possible policy for you and your family.As valued family friends and clients, I want you to know that it has been a true blessing to serve you all for so many years.Either you are current, past or future client, we love you all. Naama and the A+ Team would like to take a moment and share with you how blessed we feel to have you as part of our family. Blessings for a beautiful Holiday week ~ ❤️

TRAVEL INSURANCE QUOTE

Please remember to insure yourself when you travel outside the country. Enjoy SAFE and SECURE travel with AFFORDABLE travel medical insurance:

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