10 Critical Health Insurance Questions You Should Ask Right Now

Health insurance will undergo significant changes in 2014, health insurance questionsand many American families are wondering how to plan for them. Whether you have health insurance through an employer or buy it on your own, here are ten questions you and your family should ask right now.

 

 

Question

Why is it important?

1.

Will health insurance cover my pre-existing medical condition in 2014? Yes, this is one of the good parts of the ACA and will help many American families.

2.

Can I keep my current insurance policy? While this was one of the early promises, there are so many new requirements that you will probably not be able to keep your current policy, especially if you buy   individual insurance, get coverage from a small employer or have a policy that   doesn’t meet the new coverage requirements.

3.

Will my employer offer health insurance in 2014? Small businesses that are not required to offer health insurance may drop coverage due to rising costs.

4.

Will I be able to cover my family? The ACA provides that children up to age 26 be eligible for coverage; however, the law also allows employers to exclude your spouse from their health plan.

5.

Could my employer reduce my hours to avoid offering benefits? Many companies are cutting back the number of hours worked by part-time employees to avoid fines, penalties, and added insurance costs.

6.

Will my doctor be in my health insurance network in 2014? It’s time to ask your doctor.  Many health insurance companies are shrinking their networks under Obamacare.  In addition, the American Medical Association reports many doctors are leaving medicine rather than deal with the ACA’s complicated rules.

7.

What’s going to happen to my premium in 2014? It’s going to increase…in many cases a lot.  You should start planning for a major change in your family budget right now.  Most families buying individual policies   should plan for 75-125% increases. Expect employers to pass along much of the   increased costs of family coverage.

8.

Do I qualify for a federal premium subsidy? If you work for a company that offers health insurance that meets ACA rules, you cannot quality for a subsidy. If you have   individual coverage and your income is more than 400% of the federal poverty   guideline, you cannot qualify for a subsidy.

9.

Might I have to repay the premium subsidy if I receive it? Yes, if you earn more than reported, the ACA says you must repay some or all of your subsidy as tax by April 15 of the following year.

10.

What’s the big deal about contraceptives? The ACA requires health plans to offer coverage for all FDA-approved forms of contraception and sterilization at no cost to policyholders.  This included religious organizations and Christian businesses who believe contraception or certain forms of   abortion-inducing contraceptives violate their faith and conscience.  After two attempts to revise the rule, this remains unresolved.

Did you know the answers for your family?  We invite you to share your thoughts and questions.

For more information on ways you can take advantage of ACA strategies, please contact us at Soter Healthcare.

3 Responses to “10 Critical Health Insurance Questions You Should Ask Right Now”
  • Gary Neal says:

    A big thank you for your article post.Thanks Again. Fantastic.

  • Jarrett Lynch says:

    I love this blog, always great content

  • Phil Williams says:

    This is a good list of questions. Here’s one more for you.

    What’s going to happen to my out of pocket costs next year? I’m concerned my company will have to increase the deductible and other limits. If anyone in my family has anything big happen, we don’t have the money to cover it now.

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