Got Question About the Affordable Care Act?

We are now in 2014 and under the guidelines of the new Affordable Care Act. However, many Americans still don’t fully understand the provisions of this new law and how it will affect them and their households. Below are a few common questions and answers regarding the Act.

Do I qualify for a subsidy under the new Healthcare Law?
The Healthcare Law provides subsidies in Florida for people who earn between 100% and 400% of the Federal Poverty Level. This amount depends on family size. The table included with this article provides information on amounts used to calculate the Federal Poverty Level.

If you earn less than 400% of the FPL you may qualify for a subsidy. This also depends on the ages of family members. Some people will find that, while they may qualify for these new plans, their children may be shifted to Florida Kid Care.

When can I sign up and
avoid a penalty?
For 2014, the penalty is $95 or 1% of income for most people. This penalty goes up to 2% of income in 2015, and 3% of income in 2016. You can sign up for a plan as late as March 31, 2014 to avoid the penalty.

How can I apply?
While you can apply online by using healthcare.gov, or by calling 800-318-2596, the easiest way to apply is with a licensed agent who is actively involved in signing people up on the exchange. We are local, know the plans, know the doctor networks, and can assist you in providing guidance in making prudent choices. We can guide you on questions about income before you enroll, and help you in choosing from the various carriers available.

These past several months have allowed many agents learn about the potential pitfalls of the Affordable Care Act, and this knowledge can be invaluable in helping insurance shoppers choose the right plan.

What are some of the key differences between the old plans and the new Affordable Care Act plans?
The new plans count all copays, drug costs, and charges towards your maximum out of pocket expense, while the old plans usually did not. The new plans all cover maternity, as well as preventative testing, and a broader range of mental and physical therapy charges are now covered as well.

Will it get repealed?
While Republicans might want it to be repealed (or replaced), it is unlikely that this president will allow that to happen. It may evolve, but I doubt it will be going away.

To ask all your questions about the ACA, reach William at 954 -332-9768 or email him at william.b.kohn@floridahealthagency.com. We hope to provide answers both immediately and include your questions in future articles here in the Good News.

Bill Kohn :