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The 2018 ACA (Obamacare) Open Enrollment period began on Nov. 1, 2017 and ended on Dec. 15, 2017. However, if you experience a Qualifying Life Event you can still apply under Special Enrollment. Scroll down to see if you qualify for federal subsidies to lower your premium. Click below for quotes.

 

 

 

Short Term insurance

 

 

 

 

On October 12, 2017 President Donald Trump signed this Executive Order designed to restore consumer choice in the Short Term health insurance marketplace. Short Term health insurance is the only kind of non-ACA (Obamacare) qualified health insurance available in the individual marketplace. You can now purchase Consecutive Short Term policies that will keep you insured consistently for 360 days. Short Term policies are not ACA-qualified and do not cover preexisting conditions. Because of this they are much less expensive. Click here to download the brochure. Click quotes for more info.

 

Special Enrollment

 

 

The 2018 ACA Open Enrollment period began on November 1, 2017 and ended on December 15, 2017. However, if you have a 2017 policy from Blue Cross Blue Shield of Illinois that will be cancelled as of 12/31/2017 you still have time to purchase a new 2018 health insurance policy from Blue Cross Blue Shield of Illinois until March 1, 2018 under Special Enrollment rights, even though the annual ACA Open Enrollment period has now ended. Scroll down to learn more. Click below for quotes.

 

Accident Coverage

 

Since many consumers are now purchasing the PPACA “Metal” health insurance plans with high deductibles it makes great sense to purchase a Supplemental Accident plan so that you receive a cash payment ($6,000, $7,500 or $10,000) each time any member of your family suffers from an accidental injury (cuts, breaks, sprains, bruises etc). This cash payment can help you pay your health plan deductible. Scroll Down for More Information.

Preventive Care

PPACA Bronze, Silver, Gold, and Platinum Qualified Health Plans cover a comprehensive list of preventive services without charging you a copayment or coinsurance. This is true even if you haven’t met your calendar year health plan deductible. This applies only when these services are delivered by a network provider. Scroll Down for More Information.

2018 Special Enrollment

The 2018 ACA (Obamacare) Open Enrollment period began on Nov. 1, 2017 and ended on Dec. 15, 2017. However, if you experience a Qualifying Life Event you can still apply under Special Enrollment.
Examples of Qualifying Life Events are:

1.) Loss of employer sponsored coverage.
2.) Marriage or Divorce.
3.) Birth of a child or adoption of a child.
4.) Loss of income.
5.) Moving to another state or out of your current health plan’s service area.

To learn the income levels necessary to qualify for health insurance subsidies scroll down this page. If you do not qualify for subsidies please click “Shop for unsubsidized plans OFF the exchange” below to purchase health insurance directly from the carrier of your choice Questions? Call (630) 674-1551. Out of state? Call toll free (866) 724-7123.

Also, President Trump’s Executive Order creates more affordable options in the non-ACA qualified Short Term health insurance market and the new GOP tax bill which passed Congress on 12/20/2017 includes repeal of the ACA individual mandate. By 2019, you will no longer be fined (taxed) for purchasing lower priced non-ACA qualified Short Term health insurance. Click here to learn more about Short Term.

Buying on the exchange? If you do qualify for subsidies please click “Shop for subsidized plans ON the exchange” below. You will be able to pick a plan, get your subsidies and finish the entire process much faster than using Healthcare.gov alone. HealthSherpa speeds up the Healthcare.gov process.

unsubsidizedshopping                                                     subsidizedshopping

Determining your eligibility for one or more federal subsidies

Depending on what you expect your 2018 total household MAGI – Modified Adjusted Gross Income = (after deductions but before taxes) to be, you may qualify for a significant APTC – Advance Premium Tax Credit (federal subsidy) under the new health care law to lower your premiums. You may also qualify for a CSR – Cost Sharing Reduction subsidy to lower your deductible. If you believe your 2018 total household MAGI will be lower than:

$48,240 for an individual
$64,960 for a couple
$81,680 for a family of three
$98,400 for a family of four
$115,120 for a family of five
$131,840 for a family of six

you will be better off financially by shopping for a plan on the exchange (via Healthcare.gov) in order to receive an Advance Premium Tax Credit and/or a Cost Sharing reduction to reduce the premium and deductibles of either the Bronze, Silver, Gold or Platinum Qualified Health Plans.

Buying on the exchange? If you qualify for a subsidy please click the link below. You will be able to pick a plan, get your subsidy and finish the entire process much faster than working solely with Healthcare.gov

subsidizedshopping

Shopping from another state? Call us toll free at (866) 724 7123 or scroll down to get quotes from carriers in your state. 

Please note: If your income is lower than the 2018 Federal Poverty Level Information – 2018 FPL in your state, which is less than 138% of the FPL – Federal Poverty Level in states that expanded Medicaid and less than 100% of the FPL in states that did not.  You will be offered Medicaid will not be able to qualify for subsidized health insurance. You can purchase health insurance even if you qualify for Medicaid but you must do so without a subsidy. Click the chart below to determine the current Federal Poverty Level and percentages above it. 2018 Federal Poverty Levels will not be released until late January of 2018 so, the 2017 FPL chart must be used to determine 2018 subsidy eligibility.

Please also note: If you qualify for a federal health insurance subsidy and your state has expanded CHIP – Children’s Health Insurance Plan – under Medicaid you may not be able to insure your children on your policy. Healthcare.gov will instead send them to Medicaid. You may wish at that juncture to purchase private health insurance at full price for your children instead.

Consistent Short Term health insurance for more than 91 days.

On October 12, 2017 President Donald Trump signed this Executive Order designed to restore consumer choice in the Short Term health insurance marketplace. Short Term health insurance is the only kind of non-ACA (Obamacare) qualified health insurance available in the individual marketplace. While both ACA-qualified health insurance and non-ACA qualified Short Term health insurance policies are considered major medical health insurance, or comprehensive health insurance and both cover major health events in your life, there are important differences between the two. ACA-qualified health plans are guaranteed issue, meaning you cannot be denied coverage based on preexisting conditions. ACA-qualified health insurance plans are also required to cover certain “Essential Health Benefits” that are not covered with non-ACA qualified Short Term health insurance plans. “Essential Health Benefits” that are not covered with Short Term health insurance policies are as follows:

1.) Maternity and newborn care
2.) Mental health and substance use disorder services
3.) ACA mandated Preventive care benefits, routine mammograms and cancer screens ARE COVERED with Consecutive Short Term health insurance policies.
4.) Pediatric Services (including both oral care and vision care).

On March 31, 2017 a preexisting Obama era regulation limited Short Term health insurance coverage to 91 days of policy ownership. This regulation exposed millions of Americans to new and unique risk factors. Prior to March 31, 2017, consumers could purchase Short Term health insurance policies that would last for the entire year without interruption. So, there was no risk of your policy ending in the middle of the year outside of the annual ACA open enrollment period. Those who developed new medical conditions during the first 91 days of Short Term policy ownership, faced the new risk of not being able to qualify for another Short Term policy when their first Short Term policy ended at the end of 91 days. Consumers placed into this difficult position would then be left uninsured and uninsurable in the individual marketplace until the next annual ACA open enrollment period began again when they could once again obtain coverage for preexisting conditions. President Trump’s executive order plans to rectify that situation as soon as the 60 day comment period expires. So, we should be able to once again purchase Short Term health insurance that provides consistent coverage for 365 days as early as January or February of 2018.

Until then, the health insurance industry has responded by creating “Consecutive” Short Term health insurance coverage that will be available for purchase as of 12/01/2017. With these new Short Term health insurance policies from National General Accident and Health you are guaranteed to be issued up to four Consecutive Short Term health insurance policies, each lasting 90 days. You answer health questions only for the first policy which lasts 91 days, then on day 92, National General guarantee issues you a second policy, 90 days later they gaurantee issue you a third policy and finally a fourth policy 90 days later all without evidence of further underwriting and without any new preexisting condition clause. So, you can now remain consistently insured for up to 360 days without answering any new health questions and without the fear of conditions developed during the first, second, third or fourth policies being excluded.

Click here to download the brochure for National General’s Consecutive Short Term health insurance. National General Consecutive Short Term health insurance policies use the Aetna Open Choice PPO network. This network includes access to Northwestern Memorial hospital, University of Chicago Medical Center, Rush University Medical Center and the Ann & Robert H. Lurie Children’s hospital as well as many other hospitals and medical providers nationwide. Search Aetna’s Open Choice PPO network here. For quotes and to apply online for Consecutive Short Term health insurance policies from National General click their logo. Please note: You can only purchase Consecutive Short Term plans AFTER 12/01/2017.



National General Holding Corporation
is a publicly traded company with $2.5 billion in annual revenue. Their new “Consecutive Guaranteed Issue” Short Term health insurance plans are underwritten by Time Insurance Company (est. in 1892), National Health Insurance Company (incorporated in 1965), Integon National Insurance Company (incorporated in 1987) and Integon Indemnity Corporation (incorporated in 1946). These four companies, together, are authorized to provide health insurance in all 50 states and the District of Columbia.

2018 IRS fines for not having health insurance or for purchasing non qualified Temporary or Short Term health plans under ACA (Obamacare) individual mandate. 

You will be subject to a 2.5% of your MAGI ‘fine’ (TAX) for not having qualified health insurance or purchasing non qualified Temporary or Short Term health insurance since these plans do not include the “essential health benefits” under the PPACA “Obamacare”.

Rest assured though, if you are self employed and do not over pay your taxes you will not pay that ‘fine’ (TAX) for the only recourse the IRS has to collect that fine is to hold your tax refund. All criminal penalties for non compliance were removed from the health care law prior to passage.

If you don’t have a ‘Qualified Health Plan’ in 2016, you’ll pay the higher of these two amounts:

  • 2.5% of your yearly household income. (Only the amount of income above the tax filing threshold, about $10,000 for an individual, is used to calculate the penalty.) The maximum penalty is the national average premium for a bronze plan.

  • $695 per person for the year ($347.50 per child under 18).

  • There are maximum penalties for individuals and families. They are significant. To determine your maximum penalty click here.

  • PLEASE NOTE: The ACA (Obamacare) Individual Mandate was REPEALED by congress on 12/20/17. However, the GOP tax bill does not include repeal of this mandate until Jan. 1, 2019.

Special Enrollment periods

The 2018 ACA (Obamacare) Open Enrollment period began on Nov. 1, 2017 and ended on Dec. 15, 2017. However, if you have a 2017 policy from Blue Cross Blue Shield of Illinois that will be cancelled as of 12/31/2017 you still have time to purchase a new 2018 health insurance policy from Blue Cross Blue Shield of Illinois until March 1, 2018 under Special Enrollment rights, even though the annual ACA Open Enrollment period has now ended.

Medicaid and CHIP eligibility

If your income is below 138% of FPL – Federal Poverty Level you can enroll in Medicaid or C.H.I.P. – Children’s Health Insurance Plan at any time of the year without a Qualifying Life Event if your income is low enough to qualify. Call us with questions at (630) 674-1551 or click here to email us.

 

Start Shopping Now for 2018 ACA Qualified Health Plans

Get quotes from Blue Cross Blue Shield of Illinois

The 2018 PPACA (Obamacare) Open Enrollment period began on November 1, 2017 and ended on December 15, 2017. However, if you have a 2017 policy from Blue Cross Blue Shield of Illinois that was cancelled as of 12/31/2017 you still have time to purchase a new 2018 health insurance policy from Blue Cross Blue Shield of Illinois until March 1, 2018 under Special Enrollment rights, even though the annual ACA Open Enrollment period has now ended. Call us for guidance at (630) 674-1551.

You will owe a non compliance ‘fine’ to the IRS for not having qualified health insurance.

2018 IRS fines for not having health insurance or for purchasing non qualified Temporary or Short Term health plans under ACA (Obamacare) individual mandate. 

You will be subject to a 2.5% of your MAGI ‘fine’ (TAX) for not having qualified health insurance or purchasing non qualified Temporary or Short Term health insurance since these plans do not include the “essential health benefits” under the PPACA “Obamacare”.

Rest assured though, if you are self employed and do not over pay your taxes you will not pay that ‘fine’ (TAX) for the only recourse the IRS has to collect that fine is to hold your tax refund. All criminal penalties for non compliance were removed from the health care law prior to passage.

If you don’t have a ‘Qualified Health Plan’ in 2016, you’ll pay the higher of these two amounts:

  • 2.5% of your yearly household income. (Only the amount of income above the tax filing threshold, about $10,000 for an individual, is used to calculate the penalty.) The maximum penalty is the national average premium for a bronze plan.

  • $695 per person for the year ($347.50 per child under 18).

  • There are maximum penalties for individuals and families. They are significant. To determine your maximum penalty click here.

  • PLEASE NOTE: The ACA (Obamacare) Individual Mandate was REPEALED by congress on 12/20/17. However, the GOP tax bill does not include repeal of this mandate until Jan. 1, 2019.

 

Medicare Supplemental coverage

If you’re over 65 or nearing that age and are looking for information and multiple free quotes on plans that will cover your Medicare deductibles and other out of pocket expenses. Visit our Medicare Supplement page

Life Insurance

Visit the Life Insurance page of our website for Term Life insurance quotes from all carriers.

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