Benefit Subsidies and Health Reform
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Dennis Jarvis
May 11, 2013, 5:48:06 AM5/11/13
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Dennis Jarvis
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Article Title: Benefit Subsidies and Health Reform
Author: Dennis Jarvis
Word Count: 601
Article URL: http://www.isnare.com/?aid=1837234&ca=Medical+Business
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1837234
Easy Publish Tool: http://www.isnare.com/html.php?aid=1837234
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healthsubsidy.net is wholly committed to helping you understand and maximize health subsidies that are available to you but there's another component which although separate, is very important to those that may qualify for a health subsidy. The Health Subsidy which we describe in detail offsets the cost of health insurance premium (the amount you pay each month to keep the policy in force. Benefit Subsidies is something entirely different but equally important for those that qualify. Let's understand how this works!
What exactly is the Benefit Subsidy?
Benefit Subsidies is exactly that...where health subsidies will offset your premium cost, benefit subsidies will offset your actual out of pocket for medical care itself. The ACA law stipulated that most people making under 400% of poverty would qualify for premium subsidies but they realized that even with insurance premium offsets, many people in the lowest margins (but higher than 150% of FPL who qualify for free Medicaid) would still have difficulties paying their out of pocket medical expenses. Even with a richer plan, the out of pocket maximum of $1000 (depending on plan, State, etc) would be hard for someone making 150% of poverty (roughly $16K annually). To compensate for this, they also devised benefit subsidies for people making between 150% and 250% of the Federal Poverty Level...the lower segment of range for those that qualify for the health subsidy. Let's see how this works.
What are the different levels of Benefit Subsidy?
First, there may be different interpretations of how to actually implement this benefit subsidy. For example in California, they just announced that there would be multiple Silver health plans based on income (150%-200%, 200-250%, and standard Silver). The 200-250% plan has richer benefits than the Standard Silver (say for someone making between 250% and 400%). The 150%-200% plan will have richer benefits still than the 200%-250% plan. The difference in benefits are significant at each level so this benefit subsidy means real money for those most in need. Other States and the Federal Exchange might have different takes as well although California is usually out front on these benefit changes. There has been talk about a benefit plan upgrade in some circles. For example, you might pay for a Silver plan but get Gold benefits between 150%-200% of poverty and pay for a Silver and get Platinum benefits between 200%-250% of the Federal Poverty Level. Our health plan with subsidy Quote page will show you all the plans you are eligible for with the subsidy calculation built right in if you are eligible. This is the best way to view actual rates and benefits applicable to your situation. The rates are scheduled to be available Oct 1st, 2013 and after.
Qualification for Benefit Subsidy
The qualification for the benefit offsets mentioned above will be based on a prior look-back period. For example, the taxes filed for 2011 are expected to be the basis for 2014 qualification. We're still awaiting rules on what happens if your income suddenly changes up or down (there's a lot of that following the Great Recession with hirings, firings, and changes in hours worked). The expected result is that offsets to either premium or benefits will be recouped at time time following that year (for example, April 2015 for 2014 subsidies). This might pose a hardship to those affected negatively (say with increasing income which pushes them to a higher subsidy band or to no subsidy at all) and we're still awaiting final rules on how this will work.
- See more at: http://www.healthsubsidy.net/Benefit_Subsidy_and_Health_Reform.html
About The Author: Dennis Jarvis is a licensed health insurance agent who focuses on helping people understand the new health subsidy available through Reform for health care. http://www.healthsubsidy.net
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=1837234
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
Dennis Jarvis
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=1837234
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=1837234
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Benefit Subsidies and Health Reform
Author: Dennis Jarvis
Word Count: 601
Article URL: http://www.isnare.com/?aid=1837234&ca=Medical+Business
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1837234
Easy Publish Tool: http://www.isnare.com/html.php?aid=1837234
*********************** ARTICLE START ***********************
healthsubsidy.net is wholly committed to helping you understand and maximize health subsidies that are available to you but there's another component which although separate, is very important to those that may qualify for a health subsidy. The Health Subsidy which we describe in detail offsets the cost of health insurance premium (the amount you pay each month to keep the policy in force. Benefit Subsidies is something entirely different but equally important for those that qualify. Let's understand how this works!
What exactly is the Benefit Subsidy?
Benefit Subsidies is exactly that...where health subsidies will offset your premium cost, benefit subsidies will offset your actual out of pocket for medical care itself. The ACA law stipulated that most people making under 400% of poverty would qualify for premium subsidies but they realized that even with insurance premium offsets, many people in the lowest margins (but higher than 150% of FPL who qualify for free Medicaid) would still have difficulties paying their out of pocket medical expenses. Even with a richer plan, the out of pocket maximum of $1000 (depending on plan, State, etc) would be hard for someone making 150% of poverty (roughly $16K annually). To compensate for this, they also devised benefit subsidies for people making between 150% and 250% of the Federal Poverty Level...the lower segment of range for those that qualify for the health subsidy. Let's see how this works.
What are the different levels of Benefit Subsidy?
First, there may be different interpretations of how to actually implement this benefit subsidy. For example in California, they just announced that there would be multiple Silver health plans based on income (150%-200%, 200-250%, and standard Silver). The 200-250% plan has richer benefits than the Standard Silver (say for someone making between 250% and 400%). The 150%-200% plan will have richer benefits still than the 200%-250% plan. The difference in benefits are significant at each level so this benefit subsidy means real money for those most in need. Other States and the Federal Exchange might have different takes as well although California is usually out front on these benefit changes. There has been talk about a benefit plan upgrade in some circles. For example, you might pay for a Silver plan but get Gold benefits between 150%-200% of poverty and pay for a Silver and get Platinum benefits between 200%-250% of the Federal Poverty Level. Our health plan with subsidy Quote page will show you all the plans you are eligible for with the subsidy calculation built right in if you are eligible. This is the best way to view actual rates and benefits applicable to your situation. The rates are scheduled to be available Oct 1st, 2013 and after.
Qualification for Benefit Subsidy
The qualification for the benefit offsets mentioned above will be based on a prior look-back period. For example, the taxes filed for 2011 are expected to be the basis for 2014 qualification. We're still awaiting rules on what happens if your income suddenly changes up or down (there's a lot of that following the Great Recession with hirings, firings, and changes in hours worked). The expected result is that offsets to either premium or benefits will be recouped at time time following that year (for example, April 2015 for 2014 subsidies). This might pose a hardship to those affected negatively (say with increasing income which pushes them to a higher subsidy band or to no subsidy at all) and we're still awaiting final rules on how this will work.
- See more at: http://www.healthsubsidy.net/Benefit_Subsidy_and_Health_Reform.html
About The Author: Dennis Jarvis is a licensed health insurance agent who focuses on helping people understand the new health subsidy available through Reform for health care. http://www.healthsubsidy.net
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=1837234
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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