Many of you love Health Savings Accounts to keep your coverage affordable and have better catastrophic coverage. Here's the scoop of the deductible maximums for 2014.

Annual Limits on Cost-Sharing Requirements (§156.130(a))

The ACA limits annual cost-sharing to levels required under health savings account (HSA) compatible high-deductible health plans (HSA/HDHPs)-estimated at $6,400 for individuals and $12,800 for families in 2014. The proposed rule provides that-in the case of a plan using a network of providers-cost sharing "paid by an enrollee for benefits provided outside of such network shall not count toward the annual limitation on cost-sharing or the annual limitation on deductibles."

If you need help setting this up for your organization,

Contact Jeanine!

Health Care Reform Takes Effect In 2014
What Does This Mean For You NOW?

When the Affordable Care Act was introduced, it seemed like a good idea. Healthcare costs were escalating faster than inflation. People with pre-existing conditions found it difficult to get coverage. Preventative care wasn't used for early detection the way it was intended due to cost. 30 million people were uninsured and sometimes weren't able to cover the cost of their medical care. Something had to change. My opinion is and was that the changes required to fix the system didn't need a complete overhaul, but that's what we're getting.

We have been led into the Patient Protection and Affordable Care Act of 2010 with the sweetness of free preventative care, children under age 26 allowed staying on their parent's plan, and no child under age 19 being declined for coverage. Next year, we won't have any medical underwriting so all policies will be guaranteed issue. Rate disparities between age bands will be reduced to a ratio of 5:1 to 3:1 which will result in significant rate increases for people in their 20's (not on their parent's plan).

For policies beginning in 2014, PPACA compliant health insurance plans will be very expensive. New health insurance premiums will be very extensive and policies will cover much more than the average policy covers today. While you may be content with your coverage, more benefits always equal more premiums. A bigger increase will be applied to individual policies since group policies already cover more of the essential health benefits. (See details below on essential benefits.)

Republican House Energy and Commerce Committee members, the Senate Finance Committee and the Senate HELP Committee issued a report looking at several previously released studies to make the point those premiums for Individuals and Small Groups are likely to spike in 2014 due to healthcare reform provisions. The reports I have received show a nationwide average increase for individuals purchasing new coverage next year to cost 50-116% more than this year. New group coverage is expected to cost 32% more than this year due to ramifications. We have creative solutions to reduce the increases implemented on current coverage. New product designs and supplements are being rolled out monthly. Yet rules for implementation are still forthcoming.

The exchanges being put into place for purchasing insurance are expected to charge 30-50% more than purchasing insurance from an agent will cost. This is due to extra fees and taxes collected to help pay for the subsidy low income may receive when purchasing coverage thru the exchange. By the way, the proposed application for the subsidy is currently 45 pages long! The Internal Revenue Service is responsible for much of the financial eligibility after the application has been reviewed by Homeland Security. When we discuss your policy, I will advise you if you will be better served by the exchange than what I can assist you with. It's very complicated and I can't give too much general advice. Exchanges will open October 1st for January 1, 2014 effective dates.

Many uninsured people are waiting to see what happens and what will be available to them. This may leave them with less affordable options. Please encourage your friends and family to talk to me about the affordable options NOW and can put in place today. If you have questions you'd like addressed, please email or call me. Contact Jeanine!

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Assurant
Golden Rule/United Health One
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More Information
For more details, please visit www.uhc.com/united_for_reform_resource_center.htm, www.healthcare.gov, and www.kaiserhealthnews.org for more details.

Click on the image to DOWNLOAD this infographic to see additional options for gaining coverage beginning 2014.

Source: Keiser Family Foundation www.kff.org 

Source: Healthinsurance.org