Posts Tagged ‘compare health rates’

You Could Lose Your Health Insurance When Your Parent Dies

Sunday, July 13th, 2014

The last thing you are worried about when a parent dies is what will happen to your health insurance coverage.  But unfortunately for many young people, they also lose their health insurance coverage when their spouse dies.  This also holds true for spouses, including those with young children.  In the U.S. News & World Report Health article “What to Do When You Lose Your Health Insurance,” Geoff Williams offers up options for those who lose their health insurance unexpectedly.  The article gives the example of a 30-year old woman who lost her health insurance coverage when her father passed away in April.  She has ulcerative collitis, a bowel disease that could cause serious complications without her medication and doctor visits.  She found out that she had lost her health insurance when she tried to fill a prescription and her insurance was declined.  It cost her $200 out of pocket just to buy the four pills that she needs for one day.

It’s not common for a 30 year old to have health insurance coverage under her Dad’s plan, so the woman in the example was lucky to have such a perk.  In this particular instance, her Dad had carried individual health insurance with his carrier for so long that they allowed him to keep his daughter on his plan to age 31.  She would have had to search for health insurance soon anyways, so she was likely already researching her options.  If you don’t have health insurance coverage, you can shop for it at any time.  The Health Insurance Marketplace open enrollment period is from November 15 to February 15, but the government dates aren’t necessarily written in stone.  You can apply for a health insurance plan at any time when you have had a life change that took away your health insurance.  You can also apply for health insurance with an individual health insurance company at any time during the year.  Most companies have open enrollment periods similar to the government, but for a shorter period of time.  You can make changes to your plan during that time, unless you have a life changing event some other time during the year.

Life changing events include death, the birth of a child, marriage, divorce, a change of income, relocation, or the sudden loss of health insurance.  If any of these events happen to you, the government gives you a 60 day grace period to obtain health insurance in the exchange.  You can get health insurance quotes from multiple companies here.  You can also use an agent that works for one health insurance company or a broker that shops the health insurance marketplace for you.  The last option is similar to shopping the market for health insurance with comparehealthrates.com.  Medicaid and the Children’s Health Insurance Program are available to those with low income.  COBRA is a health insurance option for people who have just lost their jobs, and therefore their health insurance coverage.  If your parent dies and you lose your health insurance, there are options for you to find health insurance coverage.  The woman in the article was able to get her insurance plan extended until August 1 so that her daily medication is covered, so she had a couple months to search for her own health insurance plan.

 

It’s March Madness for Health Insurance Sign-Ups As Well

Saturday, March 29th, 2014

Not only is it a big weekend for March Madness basketball, it’s a big weekend for the health insurance industry as well.  March 31 is the deadline to sign up for health insurance or else risk receiving a penalty by the government when you file your taxes next year.  As long as you have started filling out a health insurance application, there is a grace period until April 7 to finish filing your paperwork.  The Associated Press offered important information in their article, “Monday is the deadline to sign up for health law”.  Government reports say that more than 6 million people have already signed up for health insurance through the newly created marketplaces since they opened October 1.  That number doesn’t even take into account the number of people who have signed up for new health insurance plans outside of the marketplaces since the new law took effect.  Four out of five of the people signing up in the marketplace have gotten a government tax credit to help pay for their premium cost.

The federal government’s website has a deadline of midnight on March 31, but states that are running their own marketplaces might have different deadlines in place.  You can sign up online, by phone, or even in person because many local areas have sign-up centers.  Since we are down to the wire with sign-up time, there will probably be long wait times no matter which way to choose to sign up through Monday.  If you don’t qualify for a government tax subsidy, but want to get health insurance to follow the law, there are many more options for finding health insurance.  You can compare health rates for individual or family insurance plans here.

In Tennessee, there is a “Local push underway to get health insurance before (the) deadline“.  Local ABC News affiliate WATE reporter Kayla Strayer posted a list of locations where people in East Tennessee can receive free help from insurance agents.  One out of six people in Tennessee has been living without health insurance.  Most of these people say that they simply can’t afford it.  Insurance experts are helping many of these Tennesseans determine whether they qualify for government subsidies as well as helping them with the application process.  One volunteer says that you can see the relief on people’s faces when they find a health insurance plan that they can afford.  Many have been going without health insurance, and in turn doctor visits and tests, even though they know they need treatment.  Americans have to sign up for health insurance by March 31, or risk being charged a fee.  Fees are equal to 1% of your income, or $95 per adult and $50 per child.  Some Americans will be exempt from this insurance mandate.

Individuals Paying More for Health Insurance Without Government Subsidies

Friday, February 28th, 2014

On the heels of the Office of the Actuary of the Centers for Medicare and Medicaid Services report detailing premium increases for many small businesses, there is another report saying that individuals are paying more for health insurance as well.  According to The Business Journal’s Kent Hoover in his article “Take out subsidies and Obamacare is Really Expensive,” those Americans who are not receiving government subsidies are paying significantly more in health insurance costs.  Some Americans qualify for government tax subsidies when they buy an individual or family health insurance plan in the health insurance exchanges.  Low and middle income Americans can buy insurance plans through the government website or individual state health insurance exchanges and receive a tax break based on their income level.

But eHealth Inc. just performed a study to see how much health insurance plans cost for those who don’t qualify for the government subsidies.  They compared data from before the Affordable Care Act went into effect with plan costs as of February 24 of this year, after the ACA prices took effect.  Average individual health insurance plans now are $274 per month.  That is a 39% increase from average plan costs before the ACA requirements changed health care.  Family plan monthly average costs increased to $663 per month.  This is up 56% from the same time last year.  The company performing the study sells an array of health insurance plans and wants to highlight what they perceive as the negative changes brought about by the Affordable Care Act.  Those who already had affordable health insurance may be negatively affected, while those people who didn’t have health insurance or with very high plan costs receive the benefits of the health care law.

Compare health rates from multiple insurance companies to find the most affordable premiums for you or your family.  If you don’t qualify for a government subsidy or have health insurance through your employer, there are countless health insurance plan options available from an array of health insurance companies.