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October 14, 2013September 8, 2016

How Covered California Will Support your Small Business

Like many small business owners, you probably have questions about Covered California and how it can provide insurance coverage for you and your employees. Covered California is a marketplace developed specifically for small businesses with up to 50 qualified employees.

The marketplace, also called the Small Business Health Options Program (SHOP exchanges) will make it easier to compare a variety of competing high-quality, qualified health plans from private insurance companies, including small group health insurance plans similar to those offered to large businesses.

Covered California will support your small business by:

Providing Control. You will be able to choose if or when to participate in Covered California, and to determine your own level of contribution toward your employees’ coverage.
Expanding Employee Options. You will be able to offer your employees their Qualified Health Plan choice from several insurance companies.
Simplifying Options. Covered California will offer the ability to compare health plan benefits, quality and premiums side-by-side.
Making Insurance Affordable. Covered California spreads insurers’ administrative costs, sharing them between more employers. Additionally, if you have less than 25 employees, you may qualify for small business tax credits.

Offering your employees high-quality health insurance, keeping them healthier, happier and more productive is a competitive advantage in the labor market. For more information about how Covered California can benefit your small business, contact the Redlands insurance experts at Bernardini & Donovan Insurance Services.

October 9, 2013September 8, 2016

Individual Health Insurance: What kind of health insurance can I buy through Covered California?

Covered California will be offering Qualified Health Plans of the same high quality as insurance health plans being offered on the private market now. Covered California’s Qualified Health Plans will be guaranteed comply with the Affordable Care Act’s consumer protections and provide essential levels of coverage.

The individual health insurance plans offered by Covered California will be the same as insurance plans you can find anywhere – even if you don’t qualify for financial assistance. All of the health insurance companies have to provide the same products at a specified cost no matter if they are offered through the open market or Covered California.

In addition, Covered California will be offering “catastrophic coverage,” a coverage that protects an individual from financial disaster in the event that they suffer from a serious and costly medical emergency. This type of coverage is not meant for routine medical expenses such as doctor visits, prescription medications or visits to the emergency room. It will cover expensive medical costs incurred above the amount you would be able to handle financially. Catastrophic coverage will be available to who individuals up to the age of 30, or to those who have certification that they do not have affordable coverage or are experiencing a financial hardship.

For more information about Covered California and their Qualified Health Plans, contact the Redlands insurance experts at Bernardini & Donovan Insurance Services.

October 4, 2013September 8, 2016

Small Group: Covered California Opened for Enrollment Oct. 1st

Due to the signing of the Affordable Care Act, most adults will be required to purchase public or private insurance by the beginning of the new year or face a fine. Under California’s new Small Business Health Options Program (SHOP), Covered California opened for small group enrollment on Oct. 1, 2013, for coverage beginning Jan. 1, 2014.

California businesses with less than 50 employees can benefit from better choices, online tools and competitively priced, small group health insurance plans similar to those previously only available to large group employers.

While small businesses are not required to enroll in the Covered California’s SHOP, and are not penalized for not participating, the exchanges will allow you to more easily provide health insurance to your employees. In addition, some businesses with less than 25 employees may be able to take advantage of Federal tax credits only available through SHOP.

Small business owners can begin enrolling in the SHOP plans on October 1, 2013, when the health exchange opens. The plans are competitively priced, and will allow you to offer your employees the ability to choose from a variety of plans, while possibly qualifying for federal tax credits.

Are you ready for the new federal health care laws going into effect in 2014? If you have questions about how to provide affordable small group coverage for your employees, or are confused about how an exchange works, contact the Redlands, California insurance experts at Bernardini & Donovan Insurance Services today.

October 1, 2013September 8, 2016

Individual Health Insurance: Covered California Opened for Enrollment Today

If you don’t have insurance through your employer you will need to get coverage by January 1, 2014. Covered California, the new health insurance exchange operating throughout the state, will function as a marketplace through which you can compare insurance plans available to you and find the coverage you need. Covered California opened for enrollment today, October 1, 2013, to set plans in place that will begin on January 1, 2014. Failure to establish insurance for the next year may lead to fines or penalties.

Many California residents don’t have insurance because they believe it will be too expensive, but under the changes made by the Affordable Care Act insurance coverage will become far more reasonable for everyone. There are also federal programs available to support those that simply cannot afford their medical coverage.

Covered California will be serving anyone who is a resident of the state. Insurance can no longer be denied to anyone due to previous health conditions, and essential health benefits are required to be available in all plans regardless of their cost. For more information about how an exchange works and how to use exchanges to find individual health insurance contact the insurance experts at Bernardini & Donovan Insurance Services.

September 20, 2013September 8, 2016

Am I eligible for cost-sharing subsidies?

Many people will qualify for health insurance subsidies once the Affordable Care Act is initiated in January 1, 2014. The Affordable Care Act will require that anyone without health insurance from their employer acquire health insurance on their own. Whether these individuals can get federal subsidies will be based on the size of their families and the amount they make every year. Individuals will be able to find out more about these subsidies at the health care exchanges, which are set to open throughout the United States.

In general, single individuals who make less than $27,936 every year will be eligible for federal subsidies for their health insurance. Families of four will have a threshold of $57,636 to qualify for federal subsidies. Most of these federal subsidies may be adjusted based on income levels. Health insurance will no longer be determined based on prior health issues, which means that many people with prior health issues will find that their health insurance coverage is already much lower.

For more information about whether you may be eligible for cost-sharing subsidies for individual health insurance contact Bernardini & Donovan Insurance Services, experts in individual subsidies and health insurance.

September 16, 2013September 8, 2016

How Government Subsidies Will Work in 2014 for Health Insurance

As part of the new health care reform that was enacted by Congress under the Affordable Care Act, many lower income persons are eligible to take advantage of financial assistance to obtain individual health insurance when the changes are implemented in 2014. The government assistance generally comes in the form of a tax credit, providing a dollar-for-dollar tax reduction or benefit to persons who spend on health care through a state-operated health insurance exchange. The credit is gained when a tax return is filed after the fact.

Additionally, up front individual subsidies will also be made available to primarily aimed at middle and low-income persons who have to pay for their own coverage, the premium payment subsidies can be used by families earning up to $94,200 in a year, or $45,960 for individuals. Those with no tax liability can instead get help up front when buying insurance, and the government pays the subsidy to the insurance company. The consumer realizes a discounted price for cash out of pocket as a result.

Because of how complicated the process can be an expert guide is extremely helpful. Bernardini & Donovan Insurance Services can provide assistance in understanding options as well as coverage. Give their office call for more information.

September 11, 2013September 8, 2016

What are Subsidies for Individual Health Insurance Policies?

The upcoming change that requires all individuals to have an individual health insurance policy is making many concerned about what it means for them. The biggest concern that people are expressing is one of being able to afford a policy as health insurance isn’t cheap. Fortunately, the legislation foresaw the fact that cost would be an issue for the uninsured and took steps to alleviate the cost in the form of individual subsidies.

There are two requirements needed in order to qualify for individual subsidies. One is to obtain an individual health insurance premium through an exchange and the other is to have income less than 400 percent of the federal poverty level (FPL). As an example, the FPL for a family of four in 2011 was $89,000. Individuals whose employers policy is too expensive or has inadequate coverage can also qualify for individual subsidies.

The ACA has two kinds of individual subsidies to help offset the cost of insurance. One is a monthly premium assistance tax credit that lowers the amount that has to be paid. The other is cost-sharing assistance that limits an individuals’ maximum out-of-pocket expenses. Some may also qualify for reduction of other cost-sharing needs.

For more information about health care policies in the greater Redlands area, contact Bernardini & Donovan Insurance Services about what type of coverage is available.

September 6, 2013September 8, 2016

Premium Assistance Subsidies

Individuals may be concerned about the new Affordable Care Act, as it will require those without employer-paid insurance benefits to get their own health insurance. However, the government is aware that not everyone can afford to pay for their own insurance policies. As a consequence, there will be federal subsidies for those that make under a certain amount. These subsidies will be available through a health care exchange and will be available to those that have income of less than four times the level of federal poverty.

The methods by which the amount of the subsidy, as well as the premium limits associated with it, will be calculated are a little complex, but a health care exchange will be able to help interested individuals learn more. In general, however, the Affordable Care Act seeks to provide health insurance with as little financial damage to the insurance consumer as possible, and there will be options for all income levels.

For more information about the projected changes to individual health insurance and individual subsidies contact the experts at Bernardini & Donovan Insurance Services. Those who need information about insurance will want to receive it before January 1, 2014, when the affordable care act will be initiated.

September 2, 2013September 8, 2016

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 much is deemed to be unaffordable by the federal government.

There are two types of subsidies that help pay for individual health insurance. One is a premium assistance tax credit that is given monthly and lowers the cost of the premium. The other is cost-sharing assistance that limits the maximum costs that are paid for out of pocket such as deductibles and co-payments.

For more information about an individual health insurance policy in the greater Redlands area, contact Bernardini & Donovan Insurance Services about what’s available to you.

August 30, 2013September 8, 2016

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 basic health insurance. In addition to this, the standards of health insurance will be raised so that they are more beneficial to policy holders.

For more information about the individual subsidies available for individual health insurance contact Bernardini & Donovan Insurance Services, experts in the Affordable Care Act and individual health insurance needs.

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