Understanding the Afordable Care Act

Open enrollment for the New York State Health Exchange begins October 1, 2013. Coverage begins January 1, 2014. The Health Insurance Marketplace will help you get affordable health insurance that meets your needs and fits your budget. The Affordable Care Act has made it possible to get lower cost insurance even if you have a pre-existing condition. Specially trained Navigators will be available to assist you in enrolling starting in October. New York State residents must enroll through the New York Health Benefit Exchange at http://www.healthbenefitexchange.ny.gov/.

You can get help enrolling by calling (585) 325-2525 or online via web chat at www.healthcare.gov or www.cuidadosalud.gov. In October you can get in person help from a Navigator. On the exchange, you can compare plan choices based on price, provider network, or quality score. Before selecting a plan, insure that your current physicians are a part of the plan and that all of your medications are included in the formulary.

All health insurance options will offer a comprehensive array of services. Preventative services will be offered at no cost to you. You will not be denied health insurance on the basis of a pre-existing medical condition.

If you earn less than $45,960 as an individual or $94,200 for a family of 4, you may be eligible for financial assistance to make coverage affordable. A Family of four with less than $24,000 in income, will receive Medicaid. Individuals opting out of the Program will receive a $95 penalty. The President has delayed the enforcement of the mandate for large employers for 12 months. In most states, if your income is between $24,000 and $96,000 you will quality for a subsidy.

There are four levels of coverage being offered: Bronze, Silver, Gold, and Platinum. In order to qualify for the tax credits, you must be in enrolled in at least a Silver Plan. Bronze plans will not receive tax credits.Lifetime Financial Group will host a FREE Seminar to cover details of the Affordable Care Act. Click here for details and to register.

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