Obamacare Archives - Healthedly Insurance Services

Does Your Small Business Have to Provide Health Insurance?

Group Insurance Plans, Health, Obamacare, Small Business

With Open Enrollment upon us, many individuals and families access the health insurance market seeking the right coverage.

If you are a small business owner, you may be wondering what to expect and what to prepare for as far as supplying your employees with health insurance. You may also be wondering what qualifications you need to meet and what you need to expect as an employer providing benefits for your employees.

Here is what small businesses should know about health coverage for employees.

1) How big is your small business?

Is your company an “ALE”? An “ALE” is an Applicable Large Employer with over 50 full-time employees. If your company is an ALE, you will need to start offering insurance to your employees. If your business does not qualify yet as an ALE, you do not need to offer insurance. However, such a benefit could be an incentive to future employees, and help grow your company.

2) Full-time or part-time employees?

If you have 50 employees or more and they are full-time employees or full-time equivalents, your company would be an Applicable Large Employer. Moreover, at least 50 of your employees need to be full-time equivalents to make you an ALE. If you have 25 full-time equivalent employees and 25 part-time employees, you need not offer insurance benefits.

3) Advantages of offering health insurance as a small business owner

Offering health insurance to your employees offers quite a few advantages that you might have not thought of yet:

Providing health insurance could be an incentive for employees to stay at your company.

Health insurance for employees could give your company a competitive edge and give you the opportunity to stand out among other employers. Adding health insurance as part of a benefits package can help you as a business owner recruit and retain great employees!

4) What about the “Family Glitch”?

Recently, the “Family Glitch” resolved in favor of families seeking health coverage sponsored by employers. In past years, many families fell through the cracks of the healthcare system. Only the employee could afford insurance sponsored by the employer. But the employee’s family members could not afford that coverage. This year, the Biden administration resolved this “Glitch” in the 2013 ACA law. Now, families can access full coverage with employer-sponsored health insurance or through the individual market if dependent coverage is deemed unaffordable.

Are you a small business looking for group plans and coverage for your employees? Reach out to Healthedly to get a free quote and answers to any other questions you may have. Call 855-522-2201 for more information!

December 6, 2022

What you need to know about Open Enrollment Period

ACA, Obamacare

Everything you need to about Open Enrollment this year

Open Enrollment period, the most wonderful time of the year, is upon us. This period usually happens at the same time of every year, from November to January, and gives people the opportunity to find the right coverage that fits their individual needs, financial situation, and employer network.

Here is everything you need to know about open enrollment for 2023 and finding the right health insurance coverage.

When is Open Enrollment?

November 1, 2022 marks the day Open Enrollment begins this year. Starting November 1, you can enroll or re-enroll in health coverage for 2023, or even change that insurance plan.

Dec 15, 2022 is the last day you can enroll or change up your plan for any coverage set to start on January 1, 2023.

2023 coverage becomes effective on January 1, 2023 for anyone who enrolled by December 15.

February 1, 2023 is the day that health coverage begins for those who enrolled between December 16, 2022 and January 15, 2023.

What do you need for Open Enrollment?

Make sure you have all the information necessary to enroll, as well as information for your dependents if applicable. Ensure you have all your IDs on hand as well as your employer and income information. Also, you may get savings on health coverage.

What is the ACA?

The Affordable Care Act, or Obamacare, makes health insurance accessible to individuals and families who otherwise couldn’t obtain insurance. You can talk with an agent TODAY at 855-522-2201 about what you are eligible for and the kind of healthcare coverage you can access.

Open Enrollment Period is here, and if you aren’t sure where to even start with health insurance, what you qualify for, or the insurance quote you might be eligible for, then you need to know that Healthedly is here to help! Our agents are ready to help you find the best coverage for your individual needs, so don’t hesitate to get started TODAY!

November 1, 2022

Important Information About Special Enrollment Periods (SEPs)

ACA, Individual and Family, Medicaid, News, Obamacare, Special Enrollment Period, Supplemental

Special Enrollment Periods (SEPs) are a specific time frame during which individuals and families can enroll in a health insurance plan outside of the standard open enrollment period. SEPs are typically triggered by certain life events, such as getting married, having a baby, or losing employer-sponsored coverage.

It’s important to understand that SEPs have strict eligibility requirements and time frames, and failing to enroll during an SEP can result in a gap in coverage or a tax penalty. Here’s what you need to know about SEPs:

Eligibility Requirements

SEPs are only available to individuals and families who experience a qualifying life event, such as:

Marriage
Divorce
Birth or adoption of a child
Loss of employer-sponsored coverage
Moving to a new area with different health plan options
Gaining citizenship or legal resident status
Leaving incarceration

It’s important to note that SEPs are not available to individuals who simply decide they want to change health plans outside of the open enrollment period. You must have a qualifying life event in order to be eligible for an SEP.

Time Frames

SEPs have strict time frames during which you must enroll in a health plan. The time frame begins on the date of the qualifying life event and typically lasts for 60 days. However, the exact time frame can vary depending on the specific life event and the state in which you live.

For example, if you get married, the SEP begins on the date of your marriage and lasts for 60 days. If you have a baby, the SEP begins on the date of your child’s birth and lasts for 60 days. It’s important to enroll within this time frame, as failing to do so may result in a gap in coverage or a tax penalty.

Coverage

SEPs allow you to enroll in a health insurance plan outside of the standard open enrollment period. This means that if you experience a qualifying life event, you can enroll in a health plan even if the open enrollment period has already ended.

It’s important to note that SEPs do not guarantee coverage. If you enroll in a health plan during an SEP, the plan may still have a waiting period before coverage begins. This means that you may have a gap in coverage between the date of your qualifying life event and the date that your coverage begins.

Plan Options

During an SEP, you have the option to enroll in any plan that is available through the marketplace. This includes both individual and family plans. It’s important to compare different plan options and consider factors such as premiums, deductibles, and out-of-pocket costs before making a decision.

It’s also important to note that SEPs do not guarantee that you will be eligible for subsidies, such as premium tax credits or cost-sharing reductions. If you are eligible for subsidies, you must enroll during the open enrollment period in order to receive them.

Enrolling in a Plan

To enroll in a health plan during an SEP, you must complete an application through the marketplace. The application will ask for information about your qualifying life event, as well as your personal and financial information.

You will also need to provide proof of your qualifying life event, such as a marriage certificate or a birth certificate. It’s important to provide all required documentation in order to ensure that your application is processed smoothly.

If you are approved for coverage, you will receive a notice of eligibility. This notice will include information about your premium, deductible, and out-of-pocket costs. You will then have the opportunity to select a plan and enroll in coverage.

If you have any questions about SEPs or the enrollment process, you can contact the marketplace or a licensed insurance agent for assistance. It’s important to get the help you need to make an informed decision about your health coverage.

In summary, SEPs are a specific time frame during which individuals and families can enroll in a health insurance plan. This period is outside of the standard open enrollment period. SEPs are triggered by certain life events, such as getting married or having a baby. These events have strict eligibility requirements and time frames. It’s important to understand SEPs and to enroll within the designated time frame to avoid gaps in coverage or tax penalties.

If you have any questions about SEPs or the enrollment process, be sure to seek the help of our licensed agents here at Healthedly! Give us a call at 855-522-2201!

March 24, 2022

Thirteen Million People In The U.S. Have Two Weeks To Apply For Zero Cost Health Insurance

ACA, Individual and Family, Obamacare

The deadline for enrolling in health insurance through the marketplace is quickly approaching. And, 13 million individuals have until December 15th to sign up for coverage.

The marketplace, also known as the Health Insurance Exchange, is a platform created by the Affordable Care Act (ACA). This platform allows individuals and small businesses to compare and purchase health insurance plans. It is an important resource for those who do not have access to employer-sponsored health insurance. It’s also a resource for those who cannot afford the high premiums and out-of-pocket costs associated with private insurance plans.

Open enrollment for the marketplace typically takes place between November and December each year. It is the only time when individuals can enroll in a plan without experiencing a qualifying life event (such as getting married, having a child, or losing employer-sponsored coverage).

This year, the enrollment period has been shortened. It will only last until December 15th. So, it is important that those who are in need of health insurance act quickly.

There are several factors to consider when choosing a health insurance plan through the marketplace. First, it is important to determine whether you are eligible for financial assistance. For example, are you eligible for premium tax credits or cost-sharing reductions. These subsidies can significantly reduce the cost of health insurance. This makes it more affordable for those with low or moderate incomes.

To determine your eligibility for financial assistance, you will need to provide information about your household size and income. You can do this by filling out an application on the marketplace website. Or, you can contact a local enrollment assistance center.

Next, you will need to choose a health insurance plan that meets your needs.

There are four main types of plans available through the marketplace: bronze, silver, gold, and platinum. These plans get categorized based on the amount of coverage they provide. Bronze plans offer the lowest level of coverage and platinum plans offer the highest.

In general, bronze plans have the lowest premiums but also have the highest out-of-pocket costs, such as deductibles and copays. On the other hand, platinum plans have the highest premiums but the lowest out-of-pocket costs.

It is important to carefully consider your healthcare needs when choosing a plan. If you have a chronic condition or take expensive medications, for example, you may want to consider a plan with a higher premium and lower out-of-pocket costs. On the other hand, if you are generally healthy and only visit the doctor occasionally, you may want to choose a plan with a lower premium and higher out-of-pocket costs.

Another important factor to consider is the plan’s provider network.

Most health insurance plans give a list of providers that they have negotiated lower rates with, and these providers get considered as “in-network”. If you see a provider who is not in the plan’s network, you may have to pay a higher out-of-pocket cost.

It is a good idea to check the provider network before enrolling in a plan. By doing so, you ensure that your preferred doctors and hospitals are included. You can typically find this information on the plan’s summary of benefits and coverage, which is available on the marketplace website.

Finally, it is important to remember that health insurance plans can change from year to year, so it is a good idea to review your plan annually to make sure it still meets your needs. If you already enrolled in a marketplace plan, you will receive a notice in the fall with information about any changes to your plan for the following year.

The deadline for enrolling in a health insurance plan through the marketplace is quickly approaching. It is important for those in need of coverage to act now. By taking the time to consider your healthcare needs and researching the available options, you can find a plan that meets your budget and provides the coverage you need.

If you are unsure about your options or have questions about the enrollment process, you can reach out to Healthedly for more information.

You can also contact your state’s insurance department for help with understanding your options and enrolling in a plan.

Enrolling in health insurance is an important step in taking care of your health and protecting yourself and your family from unexpected medical expenses. Don’t wait until it’s too late – now is the time to act and get the coverage you need.

Remember, the deadline for enrolling in a health insurance plan through the marketplace is December 15th. Don’t miss your chance to get the coverage you need – visit healthcare.gov today and start exploring your options.

August 5, 2021