Health Insurance Basics

2014 Health Insurance cost changes

The “Affordable Care Act” better known as “Obamacare” has made drastic changes to health insurance, especially the changes which take effect on 1/1/14. Rates will now be based on your age, geographic location, and smoking status.  Current or previous health conditions will no longer affect rates. In addition, those with household incomes below 400% of poverty level may qualify for government subsidies and cost sharing benefits.

If you have shopped health insurance previously and were discouraged by the cost it is time to look again. And, if you have current insurance which you have purchased individually it is definitely time to talk to your agent to consider your options.  Ideally you will have a conversation with your agent prior to 12/1/13.

2014 Health Insurance coverage changes

Some of what you will find in Individual health insurance policies will include ambulatory patient services; emergency services; hospitalization; maternity and newborn care; mental health and substance use disorder services, including behavioral health treatment; prescription drugs; rehabilitative and habilitative services and devices; laboratory services; preventive and wellness services and chronic disease management; and pediatric services, including oral and vision care. You can also expect that you will no longer have separate deductibles for prescription drugs and maternity expenses. In short, individual plans will generally be much better than anything available previously.

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