This year will be a good year for those seeking Medical Insurance coverage for themselves and their families. Last year they removed the mandate to have coverage thinking it would sink the ship, (The ACA also known as Obamacare) but instead the opposite happened. People kept their coverage and more people enrolled. Since companies expected people to disenroll they raised their rates more than necessary, so this year rate change to increases have been minimal and, in some case, they have gone down slightly.
During this Open Enrollment Period:
I am a broker on the Wahealthplanfinder.org, and unlike the folks at the 800#, I can answer questions about the Plans. Just go to where it says need help from a broker and look me up.
If you are not familiar with how our Medical Insurance system works here is a quick refresher. You pay premium based on income. If your income is below 1.35% of the Federal Poverty Level, (approx. $1,435/month) for an individual you would qualify for No Cost Medical Insurance or Apple Health. As your income increases you receive an immediate tax credits or subsidies reducing your monthly premiums until your income reaches 400% of the Federal Poverty Level. At this point you are not eligible for any reduction and you pay the full premium.
Your income in reconciled when you do your taxes so if you under or over estimate your income you will either have money refunded or you will have to pay the difference between the amount of the credit you received verses the amount you should have received.
As with prior years the biggest challenge exist for those with incomes just above the income thresholds, especially for those age 45 and older. Now the good news is that companies like:
have re-entered the market, and Molina now offers a Bonze plan where they did not in 2019. However, these plans have very high deductibles and out of pocket limits. I refer to these plans as they won’t take your house plans. Since a trip to the emergency room will probably eat up your deductible leaving you with a $5,000 - $10,000 medical bill.
Kaiser Permanente and Regence Blue Shield also allow you to enroll in plans without going thru Wahealthplanfinder.org, so if your income is more than 400% of the Federal Poverty Level business just enroll direct.
Last year, I announced it to be the year of the Medical Sharing Plan. This year will be also. I am personally enrolled in one the of these programs and have been very happy with the coverage and the service.
With Medical Sharing Programs you become a member of a group of like-minded people who agree to share medical expenses. These plans have significantly lower rates and lower potential out of pocket cost. For many they offer much more for the money. I was able to lower my monthly cost by over $300/month with a lower deductible. Now the biggest difference with these plans is they do not pay for pre-existing conditions right off the bat. If you know you need an expensive medical procedure and you expect the Group to pay for it, they group will tell you they don’t want to pay for it either.
But you must already know about it. If it is an unknown, they pay like any other plan. Also, the plan does not pay for things like drug and alcohol addiction or smoking cessation. These differences are the reasons it is so much less costly. If you want to have quality Health coverage because you just never know when an Illness or Injury will occur. No one has a sticky note on the refrigerator saying Thursday, fall down a flight of stairs. But you don’t want to break the bank either. Here are some excellent ways to protect you and your family.
1. No plan limits – Where many plans place limits and restrictions on coverage with NCBA there are no Maximum Limits.
2. Complete Preventive Care - All Preventive care, annual physical, mammograms, colonoscopy required by Affordable Care Act are covered with $0 Copay.
3. No waiting periods - Many plans place waiting periods for cancer and other illnesses. With NCBA there are no waiting periods.
4. Prescription Drug Coverage – Unlike many of the other programs NCBA comes with comprehensive prescription drug formulary.
5. Plan is secular – this program utilizes a Medical Sharing Program, most of which are religious or spiritual, with NCBA there are no religious or lifestyle choice requirements.
Is a Christian Based Medical Sharing Program offering excellent benefits and low prices? It is one the oldest and largest of the Health Sharing Ministry plans. If you are a person of faith and like the idea of teaming with other Christians. This the plan for you.
Save 30 – 50% on Healthcare benefits and see the doctors you want to see.