The Best Ways To Find Low Health Insurance Exchange Rates
If you came to this website to find low health insurance Exchange rates, then congratulations. You're just minutes away from comparing the most affordable medical plans for individuals, families, the self employed, and small business owners. The online quotes we provide are free, and our 33 years of expertise and experience ensure you are receiving the best prices.
We understand that each applicant has different health care requirements, largely depending upon what medical conditions (if any) they are being treated for. Since each insurer underwrites policies according to new, more consumer-friendly guidelines, we shop all of the large reputable companies so you will be matched with the best available offers. Of course, other factors can impact premiums such as where you live, your age and the type of benefits you need.
Good Or Bad Health
If you are not in perfect health, or have conditions that require treatment and/or medications, it does not mean you can not purchase coverage. Under the new Affordable Care Act (ACA) legislation, your pre-existing conditions are covered and do not impact the premium you pay or the benefits you receive. Marketplace plans are also eligible for an instant federal subsidy that can pay a substantial portion of your policy costs, and possible the entire premium.
By the end of 2013, your existing conditions (if you had any) no longer played a role in determining the cost of your policy. The main factors now are where you live, your age, and whether you smoke. States like New York, New Jersey and Connecticut are still going to cost more than Ohio and many other states in the Midwest. Also, the more members you have in your household, the larger the government subsidy will become.
The New Exchanges
Each state now has an "Exchange," where the top insurers offer coverage. The number of plan options vary, depending on the state, and the approval time is typically streamlined. Healthinsurancezoom.com (that's where you are right now!) will guide you through the entire process. Most State Exchanges are federally-run, since it is less expensive and more government assistance is provided. Also, several state-run Marketplaces (such as Oregon) have resulted in the failure to properly enroll applicants safely and timely.
Although the application is short, there are many confusing questions including income and identity verification. Our experience and expert guidance will speed up the process so you can get coverage quicker and avoid the glitches and delays that have impacted many persons. We not only help you find the right policy, but we'll assist you in the subsidy calculation that reduces your rate.
Regarding the previously-mentioned subsidy, it will come in the form of an instant tax credit. You won't have to file a tax return to get it and you won't have to copy a form and send it in the mail and wait six weeks either. You'll receive it as you are applying for coverage. Here's how it will work:
The Affordable Care Act legislation requires you to buy health insurance. Since it is the law, you will be assessed a tax penalty (1% of household income) if you don't comply. However, depending on that income, you may pay a very small premium, if your income is low. Of course, if your household income exceeds $96,000, you probably won't receive much tax relief.
Here's a quick example: Let's assume you and your spouse are 55 years old and you have two children in the household. You reside in Champaign County (Illinois) and your approximate household income is $100,000. Since you would not be eligible for a subsidy, the unsubsidized premium of the least expensive "Silver" plan would cost $1,192 per month (Blue Cross Blue Shield Solution 4 Plan).
However, if the household income was only $80,000, the monthly premium would plummet to $597, with the help of a subsidy worth about $7,000 per year. A household income of $50,000 would reduce the premium to only $244. Obviously, the qualification of federal assistance has a huge impact on the price you pay.
Naturally, there are many different scenarios involving four different plan options (Bronze, Silver, Gold and Platinum). The least expensive plan (Bronze) will have higher potential costs if you have a big claim. And just the opposite for the Platinum policy.
We will help you understand the new law, subsidies, tax breaks, and how it impacts the price you pay for your medical coverage. We will also do what we do best. And that's find you the lowest health insurance Exchange prices in your area.