Bernardini & Donovan Insurance Services

Blog & News

What Makes You Eligible for Individual Subsidies for Health Insurance

In 2014, all Americans are required to have health insurance or pay a fine. This fact has many worried about being able to afford individual health insurance because they can’t afford an individual health insurance policy as they currently exist. The good news is, the Affordable Care Act took a proactive stance and included a provision that created individual subsidies to help offset the cost of coverage. In order to be considered eligible for the subsidies, there are two tests that have to be passed. One way to gain individual subsidies is to purchase insurance through an exchange and have income that is less than 400 percent of the federal poverty level. In 2011, the FPL amount for a family of four was $89,000 in gross income. The other option is when employer-offered health insurance is more than 9.5 percent of the total household income. A policy that costs this

Read More »

Subsidies Cut Price of Health Insurance

Subsidies will be reducing the overall price that many lower income Americans need to pay in regards to their newly mandatory health insurance policies. While health insurance policies are set to become more affordable as of January 1, 2014, many individuals still feel as though the monthly cost could potentially be out of reach. As a consequence, many individuals may wish to pursue the subsidies available to them. When the Affordable Care Act is implemented, all individuals will be required to carry health insurance. This includes those that do not have employer-provided health insurance. Today, the costs of individual health insurance can be quite high, but in the future it is expected that insurance policies will become more affordable. Those that have an income of less than four times the poverty level will be able to qualify for health insurance subsidies from the federal government so that they can afford

Read More »

How do exchanges improve health plan quality and value?

One component to the Affordable Care Act being instituted as of January 1, 2014 is the addition of healthcare exchanges. Healthcare exchanges will be required throughout the United States and will create a marketplace through which individuals and small business owners can find affordable health care plans. How Will Healthcare Exchanges Work? While the details haven’t all been set in stone, a healthcare exchange will provide access to multiple types of insurance products. Individuals will be able to contact a healthcare exchange so they can compare different types of insurance policy to find the best one for them. There will be separate exchanges for individuals seeking insurance and small companies seeking insurance. How Do Exchanges Improve My Health Plan? A healthcare exchange requires that insurance companies compete against each other for their clients. This means that insurance companies will be forced to lower their costs and increase the benefits of

Read More »

What are an Exchange’s responsibilities?

With individual health insurance becoming a mandatory requirement in January 2014, it’s time to become aware of what is expected of you as an individual, and the responsibility of the individual exchanges. What are the responsibilities of an exchange? The exchanges carry the burden of making sure health care providers comply with the minimum standards in providing health care. They are the “store” that carries a variety of products that will be offered for consumer selection. The exchanges will make sure all consumers are aware of pricing, quality ratings and performance and will also have the responsibility of making sure enrollees who qualify for subsidies and exemptions get the proper credit. Employers will have the advantage of having the exchanges work with them to make sure they are in compliance. By using an exchange, individuals and businesses should have smoother transitions in enrolling into health plans and complying with the

Read More »

How Buying Insurance in an Exchange is Going to Work for Individuals

The first day for open enrollment into the California insurance exchange is drawing near, offering access to individual health insurance like never before. Individuals are going to be able to shop for a plan that suits their personal needs as well as being able to compare and contrast the available options. Covered California, the state exchange, offers the option to get information via a website, through the mail or by phone. All of these options are going to contain information that helps you, the consumer, decide on which plan is right for you. The website will have a variety of features that allow the user to pick and choose their plan. Available information includes premiums, what benefits are offered for each plan, provider networks and availability. Other information demonstrates how much the plan spends in order to cover medical claims in relation to administrative charges. That way, the consumer can

Read More »

What is an Individual Health Insurance Exchange

Now that the end of the year is approaching, California and other states are making sure they comply with provisions of the Affordable Care Act. One of the main provisions is providing Health Insurance Exchanges for individuals. What does this mean? It means that people can purchase individual health insurance plans to cover their medical expenses. The exchanges allow individuals to compare pricing and services, making informed decisions on what will work best for them according to the four levels of coverage offered. These plans will be available for purchase in a variety of ways: mail, web, by phone or in-person. Additionally, the exchanges will have information you need in relation to premium costs and possible subsidies. It is important to understand the intricacies of selecting a provider and how the exchanges work. Starting January 2014, everyone is required under the Affordable Care Act to carry a health insurance policy.

Read More »

Our website uses cookies and thereby collects information about your visit to improve our website (by analyzing), show you Social Media content and relevant advertisements. Please see our cookies page for furher details or agree by clicking the 'Accept' button.

Cookie settings

Below you can choose which kind of cookies you allow on this website. Click on the "Save cookie settings" button to apply your choice.

FunctionalOur website uses functional cookies. These cookies are necessary to let our website work.