TRANSITIONAL PLANS
Transitional - effective March 11, 2010 to October 1, 2013. You may keep this plan for 2018.
The rate increase is based as it has been in the past: 5 year age brackets, cost sharing with local providers and medical expenses paid for everyone in the state having the same plan; but never on your individual medical expenses.
So what's next?
Your plan will renew automatically and you will see the change in premium for your coverage starting January 2018. If you do an auto-draft, please make a note of this.
But what if my situation has changed? Would I get better coverage / premium through The Insurance Marketplace ?
You might. This is what we need to do to evaluate.
1. Review our video about the Affordable Care Act so you understand how the new plans and the premium discount tax credit work.
2. Estimate your income for 2018. Put that along with your household size (as you will report on your 2018 1040 tax return) into the Subsidy Calculator
3. If the premium for the baseline "Silver" plan is substantially lower (say 40%) as compared to your 2018 renewal rate, then we may need to evaluate. To get started - Please complete our Checklist of Health Insurance. This will help us evaluate if a change would be in your benefit.
4. Remember - if you make a change to your Grandfathered or Transitional plan, you may NOT change back in the future. This is very important for you folks under 50 whose income may increase in future years.
LET US HELP YOU
We were very fortunate that last year we were able to help lots of folks get substantial premium saving, upgrade their benefits and in many cases, be able to get the health insurance they really needed for the first time in many years.
We have increased staff to help us provide you the answers and support you need.
Please call 828-279- 4681
The rate increase is based as it has been in the past: 5 year age brackets, cost sharing with local providers and medical expenses paid for everyone in the state having the same plan; but never on your individual medical expenses.
So what's next?
Your plan will renew automatically and you will see the change in premium for your coverage starting January 2018. If you do an auto-draft, please make a note of this.
But what if my situation has changed? Would I get better coverage / premium through The Insurance Marketplace ?
You might. This is what we need to do to evaluate.
1. Review our video about the Affordable Care Act so you understand how the new plans and the premium discount tax credit work.
2. Estimate your income for 2018. Put that along with your household size (as you will report on your 2018 1040 tax return) into the Subsidy Calculator
3. If the premium for the baseline "Silver" plan is substantially lower (say 40%) as compared to your 2018 renewal rate, then we may need to evaluate. To get started - Please complete our Checklist of Health Insurance. This will help us evaluate if a change would be in your benefit.
4. Remember - if you make a change to your Grandfathered or Transitional plan, you may NOT change back in the future. This is very important for you folks under 50 whose income may increase in future years.
LET US HELP YOU
We were very fortunate that last year we were able to help lots of folks get substantial premium saving, upgrade their benefits and in many cases, be able to get the health insurance they really needed for the first time in many years.
We have increased staff to help us provide you the answers and support you need.
Please call 828-279- 4681
