Latest Obamacare enrollment kicks off Friday
Hild, the sales director of
Hild said he and his associates have been busier than last year leading up to the start of open enrollment, in part because there are new health coverage carriers getting into the Affordable Care Act marketplace.
While new carriers increase options and create more competition, they offer divergent policies with widely different coverage and pricing. The new plans also are impacting the level of subsidies available to people based on their income.
"Some of the new plans have much lower premiums, thus lowering the subsidy. However, these lower premiums often cause more restrictions and less coverage, including prescriptions," Hild told
One ripple effect of the entry of new players into the marketplace locally involves the subsidy level, said Hild, a licensed health agent for more than 27 years.
The subsidy is based on a formula guided by the cost of the second-lowest priced Affordable Care Act Silver Plan in an area, he said.
"So when a new company comes in, they will often try to undercut the prices of the existing companies," Hild said. "When they do that, what happens is the subsidy literally goes down."
Hild said it's important for customers to carefully research plans and what's covered at what prices.
Consumers should be aware of the implications of health care plans now offered outside of the Affordable Care Act umbrella, said
"It's also important to recognize that there are health insurance plans available off the marketplace, like short-term or association plans," Seehausen said. "These plans are not equivalent to the health insurance plans available for purchase on healthcare.gov. They may have fewer benefits or a number of exclusions."
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Here are some tips from
--Do research on the best plan for you or your family, as options and coverages can change from year to year. Check to see which physician practices and medical centers are included in a plan.
--Check to see if you qualify for a subsidy to lower your premium based on your income.
--Be aware that all plans offered through the Affordable Care Act offer free coverage for vaccinations and health screenings. Preventative care services are provided to patients without the expense of a copayment or coinsurance.
[email protected] -- 336-888-3528 -- @HPEpaul
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