Poorest Of The Poor Left Out Of Affordable Care Act’s Health Insurance Expansion

It’s just the simple math of how health insurance premiums are calculated.” North Dakota Insurance Commissioner Adam Hamm has spent much of his TERM studying the Affordable Care Act. Hamm was appointed to the position in 2007 and elected in 2008 and 2012. This month, he’s taking his research on the road, updating agents on the future of health insurance in North Dakota. The biggest change: the STATE no longer runs the exchange.

Obamacare Glitches Prevented 9 In 10 Prospective Customers From Buying Insurance, Survey Reveals

Most of them have a minor piece of the major medical market in Nebraska, and likely don’t think it’s worth it to make the changes necessary to comply with the federal health care law. As Obamacare shifts into a higher gear, all Americans must buy health insurance or pay a fine beginning in January. Insurance companies selling individual plans can no longer sell cheaper, bare-bones plans, must offer an array of benefits and cannot deny people coverage because they’re sick or old. Aetna, American Family Mutual Insurance, Humana, Independence American Insurance Company, Reserve National Insurance Company, Standard Security Life Insurance Company of New York, Companion Life Insurance and United Security Life and Health Insurance have all informed the state insurance department of their intent to stop selling health insurance to individuals – and in some cases – groups. Under Nebraska law, insurers are required to notify policyholders in writing of any such changes. State Insurance Commissioner Bruce Ramge was most recently informed of a departure Thursday morning, when he received a letter from Companion Life saying they’ll leave the market at year’s end, noting that increased regulations under Obamacare would make it difficult to continue. Ramge said the new landscape under Obamacare is the major driving factor in the companies’ pullout, largely because of the administrative and policy changes they’d have to make.

New Health Insurance that Covers Pre-existing Conditions from DirectAsia.com HK

Another important difference between the costs of the health insurance you buy from your employer versus the health insurance you buy from the exchange is that you use pre-tax dollars to pay for the health insurance through your employer and after-tax dollars when you buy the insurance through the exchange. Comparing the health insurance options, features and benefits The main thing folks need to understand is that access to and the premiums for the health insurance on the exchanges are not based on health. It does not matter how sick you are or what pre-existing conditions you may have. You cannot be turned down for the health insurance on the exchange. You also need to compare the coverage. The insurance options on the exchange are required to cover things such as preexisting conditions, mental health benefits and pregnancy, while your existing insurance may not.

Thats because they have household incomes of less than 138 percent of the federal poverty level; thats $15,856 for a single person and $32,499 for a family of four. Of those eligible for Medicaid expansion, about 200,000 qualify for premium subsidies on the insurance exchange because they earn between 100 and 138 percent of the poverty level. But the poorest of the uninsured, who earn less than 100 percent of the poverty level $11,490 for a single person and $45,960 for a family of four are not eligible for subsidies. Thats because authors of the Affordable Care Act assumed they would be covered by the Medicaid expansion.

Seven percent of Americans report that somebody in their household has tried to sign up for insurance through the health care exchanges, according to an AP-GfK poll. While that’s a small percentage, it could represent more than 20 million people. Three-fourths of those who tried to sign up reported problems, though, and that’s reflected in the underwhelming reviews. Overall, just 7 percent of Americans say the rollout of the health exchanges has gone well.

Chief Executive Officer of DirectAsia.com Hong Kong, Nicolas Faquet, explains: “If you had an operation on a tumour or gallstone prior to taking out your health insurance with us then we’ll cover you again if you do not have any symptoms for two continuous years after joining us. That way we’re able to cover any pre-existing medical conditions.” He added: “We’re really excited about the launch of this product as until now most people in Hong Kong have found it impossible to get insurance for pre-existing conditions.” DirectAsia.com says its Health Insurance plan, which covers hospital and surgical bills, will be one of the cheapest on the market as it is priced on a ‘pay for what you need’ basis. Mr Faquet added: “Customers are able to choose their own level of hospital and accommodation, which ultimately means they’re not subsidising those who choose to use more expensive hospitals as can be the case with many other insurers.” The new product also allows customers to choose their own annual limit without any of the usual sub-limits imposed by other insurers such as limitations based on disability or confinement. Also, those who have not made a claim will receive a discounted premium on renewal. Alongside their new health insurance policy, DirectAsia.com is offering a Top-up plan aimed at those who already have health insurance provided by their employer.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s