Health Care Reform: Fitting into the Puzzle
Not sure how you fit into the Health Care Reform puzzle? Navigating Health Care Reform can be tricky, but luckily, you have Sweeney & Sweeney Insurance to help you along the way! Contact one of our certified, friendly, and knowledgeable agents today with your questions and concerns. We’re always ready and willing to help!
Q: What is the household income eligibility requirement?
A: Americans with household income of 100% to 400% of the Federal Poverty Level (FPL) are eligible. For example:
- 100% FPL- individual $11,490, family of four $23,550
- 400% FPL- individual $45,960, family of four $94,200.
Q: Do the credit amounts vary by income?
A: It is a sliding scale that comes into effect here. If you fall on the lower end of the FPL percentage spectrum, you can expect more help from the government than someone closer to 400% FPL.
Q: What is the exchange?
A: You can think of the exchange as a marketplace to purchase insurance. Exchanges are new organizations that are being created to provide a more organized and competitive way to purchase health insurance. Consumers can view several options and easily compare rates and coverage details.
Q: Will Agents be participating in the Health Care Reform?
A: Agents and Brokers have the choice to become Certified Health Care Reform Agents, to have the opportunity to better serve our community and help them get the best coverage available.
Q: What if I already have an individual health plan?
A: When the new law comes into effect in January 1, 2014, all current plans will no longer exist. Your options are to either be moved to a plan that is closest to your current plan or you may call Sweeney & Sweeney Insurance to go over your options in the Exchange, as you may qualify for a tax credit.