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Calculate your cost
for health and life Insurance!
Get Rates & Plans Now

Or call today!
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ACA May 2022

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Volume 4, Number 32

Latest News and Updates

The first article in this month’s newsletter explains what the “family glitch” is and details the Biden administration’s rule-making efforts to eliminate the glitch as of January 1, 2023.

The second article contains a link to Robert Wood Johnson’s Health Policy in Brief about ACA marketplace premiums and outlines the key findings of that study.

Earlier this year we announced the formation of Mark Cuban’s Cost Plus Drug Company. The third article includes a link you can use to determine the cost of medications that can be purchased through Cost Plus. In some cases, these medications can be purchased at a lower price through Cost Plus than they can either through your ACA policy or through discount sites like GoodRx.com.

BIDEN ADMINISTRATION PROPOSES FIX FOR ACA’S “FAMILY GLITCH”

This article by Alan Goforth appeared in the April 6 issue of Benefits Pro. The proposed Executive Order would be effective January 1, 2023.

Federal agencies proposed a rule on April 5 to fix the so-called “family glitch” that can make it expensive for dependents to obtain coverage under the Affordable Care Act.

Currently, people who do not have access to “affordable” health insurance through their jobs may qualify for a premium tax credit to purchase affordable, high-quality coverage on the ACA’s health insurance marketplaces. Current regulations consider employer-based health insurance affordable if the coverage solely for the employee, and not for family members, is affordable, making family members ineligible for a premium tax credit even though they need it to afford high-quality coverage through the marketplace.

For family members of an employee offered health coverage through an employer, the cost of that family coverage sometimes can be expensive and make health insurance out of reach. The family glitch affects about five million people and has made it impossible for many families to use the premium tax credit to purchase an affordable, high-quality marketplace plan.

Read the entire article here.

Read this fact sheet for more information and for a summary of other efforts by the Biden Administration to improve the Affordable Care Act.

MARKETPLACE PRICES DECLINE AS COMPETITION INCREASES

Read this Health Policy In Brief from the Robert Woods Johnson Foundation that shows that Health insurance premiums in the Affordable Care Act Marketplaces declined in most states in 2022 for the third straight year, while employer-sponsored insurance premiums rose.

Key Findings

Premiums for benchmark plans in the marketplace fell 1.8 percent nationally in 2022, following declines of 3.2 percent in 2020 and 1.7 percent in 2021. These trends contrast with premium increases in employer-sponsored plans of 3.6 percent in 2021 and 3.9 percent in 2020.

Most states saw reductions in marketplace premiums, but premium prices varied considerably across states. Eleven states had average benchmark premiums of more than $500 a month for a 40-year-old nonsmoker, while six states had premiums less than $365 per month for similar individuals.

Regions with higher unemployment rates saw higher premium increases.

The number of insurers participating in the marketplace increased from 198 to 288 between 2020 and 2022 in the regions analyzed. Additionally, increases in the number of insurers in a marketplace correlated with lower premium increases. Health premiums in markets with only one insurer were $189.50 higher, on average, relative to markets with five or more insurers

It is difficult currently to predict ACA premiums for 2023. Reasons are that it is still too early to predict how the 2022 health experience due to the COVID epidemic will affect premiums, there are changes to the Medicaid program that may pass on costs to ACA premiums, and several carriers experienced unanticipated losses to their ACA business in several states. We expect that this will result in several carriers eliminating offerings in at least some states and this may affect the cost competitiveness of some carriers in states where they are currently offering coverage.

FIND DRUG PRICING AT MARK CUBAN’S COST PLUS DRUG COMPANY

An earlier 2022 newsletter contained an article about the formation of Mark Cuban’s Cost Plus Drug Company. See this letter from Mark Cuban that explains the mission of this new company.

Please use this link to see the cost of all medications that can be purchased through this new company.

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HEALTH

DENTAL

MEDICARE

DISABILITY

LIFE

2022 Schedule
Affordable Care Act Open Enrollment

Affordable Care Act open enrollment began November 1, 2021 and ended January 15 on the Federal Facilitated Marketplace (healthcare.gov).
You can only buy an Affordable Care Act plan for the remainder of 2022 if you have a Qualifying Life Event.

Call us at 561-734-3884 or 877-734-3884 to determine
what kind of plan you may be eligible for.

2022 Schedule
Medicare Annual Enrollment Period

The Medicare Annual Enrollment Period ended December 7, 2021
for a January 1, 2022 effective date.

You’re eligible to enroll now if you’re first becoming eligible for
Medicare or are eligible for another type of enrollment period.
Enrollment rules differ between Medicare Supplement plans and
Medicare Advantage, Medicare Advantage Prescription Drug,
and stand-alone Prescription Drug Plans.

Call us at 561-734-3884 or 877-734-3884 for details.

Get Rates & Plans Now

We offer a comprehensive set of Affordable Care Act (“Obamacare”) plans

to individuals and families qualified to buy health (tax- and non-tax subsidized) insurance and dental/vision and/or hearing plans through the Federal marketplace (this is called buying “on-exchange” or “on-marketplace”) or directly from insurance carriers (this is referred to as buying “off-exchange or -marketplace”). Our Affordable Care Act policies comply with the Affordable Care Act and contain all of the “essential health benefits” required by that law.

The dental/vision and/or hearing insurance

products are available both on an insured or discount basis

We offer short-term health insurance policies

for those who are looking for more inexpensive coverage and shorter term alternatives.

We offer Medicare Supplement, Medicare Advantage, and Part D Drug plans

to Medicare beneficiaries. Our site is compliant with federal, state, and carrier guidelines in selling these policies. See the Medicare section of this site for details.

We represent many carriers that offer supplemental benefits

to both individuals and families and Medicare beneficiaries, and the site contains information about hospital indemnity, cancer, critical illness, gap, accident, and international medical insurance offered by many different carriers. This section of the site also contains valuable information and tools about lowering the cost of prescription medications. Call us if you want more information about or would like to enroll in one of these products.

We also offer Short- and Long-Term Disability products

and can also help you meet the costs of long-term care, nursing home, or short-term (recovery) care needs.

Finally, we have a complete array of Life, Final Expense, and Annuity products

and offer pre-need services in Florida, as we have both life insurance and pre-need licenses in that state.

You pay nothing for our services:

we’re paid directly from the carriers we represent, Premiums are NEVER EVER marked up to include paying us for our services: you pay the same whether you order directly from the carrier or the marketplace on your own or directly through us or from our site.

We ONLY offer alternatives that are suitable for you and for which we feel meet YOUR needs.
When or if we feel a product or service is not appropriate for you from either a cost or benefit point of view we will tell you so.

We’re fully compliant with privacy and security guidelines, have signed all required privacy and security agreements, have developed a privacy and security policy, and take extraordinary steps to safeguard your protected health and personal information.
In short, we’re experts in all aspects of health and life insurance and also have relationships with professionals who can help you with very specialized situations.

More choices
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877-734-3884

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