Bottom line, it lets you know if the plan you are considering is measured as a qualified plan under the Affordable Care Act law. If it is, it will keep you from paying the Individual Mandate Tax Penalty regarding health insurance. But if it is not MEC, it will not protect you from the penalty cost.
For those of you that like more detail: Minimum Essential Coverage is the standard by which the Affordable Care Act classifies major medical health plans. The plan is not considered “qualified” coverage if it does not contain the 10 Essential Health Benefits and has an actuarial value of at least 60%, meaning the plan will pay at least 60% of the participants health care expenses.
If you do not have a “qualified” Minimum Essential Coverage health plan, you will likely be required to pay the Individual Mandate Penalty at tax time. That applies to most people if they go more than 2 months without coverage, unless they qualify for a Hardship Exemption.
Penalty vs the cost of the Insurance:
For many people, it comes down to the cost. With rising health insurance cost and less choice in plans, I suspect more people than ever will be looking for other options to protect themselves from a catastrophic health event. People will be weighing the difference in the cost of the insurance verses the penalty they might pay. But there is danger in purchasing a plan you do not fully understand. We can help you understand! Give us a call today.
Curious about what your penalty is likely to be if you forgo Qualified coverage? Use this estimator to get an idea, based on your household income.August 30, 2017
Looking for Emergency Coverage with a Lower Cost for 2018?
Many of you may have heard that BCBS has announced they are pulling their individual medical plans starting 1-1-2018 from all counties in Georgia, except 85 rural counties. With this news, Georgia will have very limited options for family coverage starting in 2018.
With that said, I wanted to let you know that a short term medical plan may be a viable option for many families, until a more permanent solution is available. They basically offer emergency coverage with a lower cost. It turns out that is what a lot of people are looking for these days. However, short term plans do have their limitations and are not for everyone. Short term plans are not ACA qualified plans therefore they do not meet the Minimum Essential Coverage required by the ACA. That means they do not exempt you from paying the tax penalty for going without a qualified health plan for more than 2 months. And they do not cover pre-existing conditions nor preventive care. But if you are looking for a lower cost option to cover you, in the event of an emergency, then this type of plan may be the answer you are looking for.
With government regulation limiting short-term medical insurance to a 3-month term, there has been great concern about lingering or catastrophic health issues that occur during the policy, but with symptoms and treatments that extend beyond the policy’s limited term. Previously, when reapplying for STM coverage, this condition would be considered pre-existing on all subsequent policies, but not anymore… Our carrier has created an elegant solution to remove pre-ex between multiple policies. They have now established a retro or pre-existing date that will remain constant through 3 consecutive policy terms, allowing up to 9 months of coverage before the pre-ex resets. Now, there are no longer concerns about securing temporary coverage for at least 9 months’ worth of coverage.
This added benefit is currently available with the Short Term Medical plan at no added cost and requires no special enrollment. A further complement is that the carrier will automatically apply this benefit to existing 3 month policies when the client reapplies for a second term. The benefit will only be available if the policy holder reapplies through the link that is sent by the carrier at policy end date.
We are very pleased with this big development and the continued importance and viability of this Short Term Medical plan as the best temporary medical solution on the market. Call Terri for details at 770-452-9335.August 12, 2017
In December 2016, Congress passed legislation stating that the cost of the Lifetime Senior Pass must be equal to the cost of an annual non-senior America the Beautiful – The National Parks and Federal Recreational Lands Pass.
Since 1994, Seniors have been able to purchase a Lifetime Pass to America’s National Parks, and other federal lands, for $10. But this year, on August 28, the cost will go up by 700%.
The lifetime pass provides access to more than 2,000 recreation sites managed by six federal agencies: National Park Service, US Fish & Wildlife Service, Bureau of Land Management, Bureau of Reclamation, US Forest Service, and US Army Corps of Engineers.
Passes offer a variety of benefits beyond entrance to parks and standard amenities (day-use), including, but not limited to, Expanded Amenity Fees, such as camping, swimming, boat launching, and guided tours.
There is still time to purchase a lifetime pass for $10 instead of $80!
US citizens 62 years or older are eligible to purchase the Senior Pass.
If you decide to purchase online or through mail, there is an additional $10 processing fee. Otherwise, bring your photo ID to any federal recreation site. (Check the list of participating locations here)
If you, or someone you know, may be interested in purchasing a lifetime senior pass to America’s National parks, act now before the price goes up on August 28!
Current Senior Passes are not affected by this change and remain valid as a lifetime pass.
_August 9, 2017
I have had several Medicare clients contact me in the last 24 hours asking me if the latest news from Blue Cross Blue Shield of Georgia affects their Medicare coverage.
If you do not know what I am talking about then you are probably not one of those worried individuals. But the good news for Medicare beneficiaries is that the answer is a definitive ‘NO, your coverage is not affected.’
I am talking about the recent news release from BCBSGA regarding their discontinuation of services for their individual, under 65 years of age, plans in many counties in Georgia, particularly the Metro Atlanta Counties, for the 2018 year plan beginning in January.
Neither Medicare nor employer sponsored health plans will be affected; only the individual market is being disrupted. And what a disruption this will be! At this point, there are only a couple of carriers offering coverage in the Metro Atlanta area for 2018. Time will tell us more, but unfortunately, we are running out of time. Open enrollment is fast-approaching!
I can help you! Give me a call and I will be happy to help you navigate the ever-changing world of insurance.
Here for you,
Open Enrollment ends in 13 days, on Tuesday, January 31st. Please contact me before Monday, January 30th if you want help purchasing a plan or changing your plan.
After January 31st , you cannot purchase a health plan for the rest of the year. The exception is if you have a Qualified Event that will give you a Special Enrollment Period to enroll or make a change.
Call to get all the quotes in one place. I can also help you figure out if you qualify for a Tax Credit Subsidy.
Going without insurance due to high prices? I can help you with a Short Term plan which is better than nothing. Let me know!
Please let me know what you are doing for insurance for 2017.
If you changed/purchased a Marketplace plan, please let me know. If you included my name (Terri Potter) and my Agent National Producer Number (NPN# 7040882) as someone helping you, then I am your agent for 2017. If not, I can become your agent with a simple form, so let me know!
If you called your insurance carrier directly to change your plan, I may not be listed as your agent. Let me know and I can correct that.
If you are new to me and you would like to have my help, I can be added as your agent to your existing plan with a simple form. Reply to this email or call me!
Need dental or other insurance?
I can help you with other types of insurance like Dental, Vision, Life, Disability, Medicare and Long Term Care insurance. Call me if you need help with these products because I can run you a free quote.
I am waiting to help you!
The earlier in the next two weeks you contact me, the better, as it will get busy near the deadline. Call me now at 770-452-9335, or reply to this email asking for help.
I look forward to helping you!
Thanks so much,
Like our Facebook page to receive updates on the 2016-2017 Open Enrollment season!
Individual/family, group, Medicare, short term, life, disability, long term care, dental, vision, travel, expat
January 12, 2017
There is still time to apply for a qualified health insurance policy during open enrollment.
You have until January 31st to apply for a 2017 health plan both on or off the Marketplace. We can help you with both plan types.
February 1st and March 1st effective dates are still available.
Give us a call today at 770-452-9335!
May 27, 2016
Many people do not realize that they cannot continue to receive a Tax Credit Subsidy from the Marketplace once they become eligible for and enroll in Medicare Part A. If they continue to receive subsidy money, the Federal Government will require that they pay that money back when they file their taxes.
Call Terri with your questions about Medicare, Healthcare.gov plans and much more! 770-452-9335.
Or, email your question to: email@example.com
January 18, 2016
The deadline for 2016 health insurance is here / make Terri the agent on your new policy!
Still need health coverage?
Open Enrollment ends in less than two weeks, on Sunday, January 31st. Please contact me preferably before Friday, January 29th if you want help purchasing a plan or changing your current plan.
I assist with plans off and on healthcare.gov at no additional cost to you. The money I am paid by the insurance carrier is already built into the cost of every health plan sold today. As confusing as the health insurance process is these days, everyone could benefit from some good, knowledgeable help! I represent all of the major health insurance carriers selling qualified plans in Georgia today.
With a simple call you get all of the quotes available in one place, for the same price you would pay going directly to each carrier, or to the government’s Marketplace. If you think you qualify for a Tax Credit Subsidy, I can help you figure that out as well.
After Open Enrollment ends, you cannot purchase a health plan for the rest of the year, nor can you make a change to a policy. The exception is having a “Qualified Event” that will give you a “Special Enrollment Period” to enroll or make a change.
To my existing clients:
Thank you to all who have called to make changes to your policy during Open Enrollment. If you have gone to the Marketplace (healthcare.gov) to make a change to your plan or to purchase a new plan, and have not told me, please let me know.
If you did not include my name (Terri Potter) and my Agent National Producer Number (NPN# 7040882) as someone that is helping you, then I will not be your agent in 2016 (unless you saw that my information was already listed as your agent). However, we can get that corrected (if we know about it) with a simple form. Please let me know!
Also, it has come to our attention that if you have called your insurance carrier directly to make a change to your plan, you were likely put on a new plan without me being listed as your agent. Again, I can get that corrected if I know about it.
If you are someone new to me and you would like to have my help going forward, I can be added as your agent to your existing plan with a simple form. Reply to this email or call me.
Need dental care?
Other types of insurance can be purchased year round like dental, vision and Long Term Care insurance. Call me if you need help with these types of products. It is simple to get a quote for the dental and vision plans I recommend, which are Delta Dental and Renaissance Dental plans.
Remember- I am waiting here to help you for free!
The earlier in these next two weeks you contact me, the more time I will be able to spend explaining details to you. It will get very busy at the end of next week, so call me now at 770-452-9335, or reply to this email asking for help. I look forward to helping you!
Georgia Health Insurance, Inc.
November 20, 2015
Open Enrollment is well underway and Terri is helping our new and current customers make sure they are on the right plan for January 1, 2016.
We are here to help, and it doesn’t cost you anything!
Terri Potter is an expert health insurance agent. She can help with:
Blue Cross Blue Shield, Humana, Kaiser, Aetna, Cigna, Coventry, Ambetter, United Healthcare, Delta Dental, Renaissance Dental, Marketplace subsidy eligibility, Marketplace enrollment and healthcare.gov, off-exchange plans, individual and family plans, dental and vision insurance, life insurance, provider networks, benefit details and more!
If you have a Marketplace plan and need to update your information or enroll in a new plan, Terri can help you do that with a simple, 20 minute phone call.
Many of our clients have plans that are being discontinued at the end of the year, so we are helping them move to the their next best option.
Almost everyone else is getting huge price increases for 2016, so we are running quotes for all of our clients to see if there is anything else available, so we can know they are on the best and most affordable plan possible for next year.
November 1st: Open Enrollment begins
December 15th: The last day to enroll in coverage beginning January 1st.
January 1st: The first day coverage can start
January 31st: Open Enrollment ends
Email Terri any questions (firstname.lastname@example.org) or call her at 770-452-9335