As open enrollment for 2019 approaches, you may be feeling confused about what has and has not changed. First introduced under President Barack Obama in 2013, the Affordable Care Act (ACA) still has many of the original components that it had originally. This year, open enrollment runs from November 1 to December 15.
When you choose your health coverage during open enrollment this year, it will look much the same as it did in 2017. This includes the following:
In June 2018, the Centers for Medicare and Medicaid Services (CMS), released a Final Rule for the upcoming open enrollment season and the seasons beyond it. As mentioned above, the only thing you will notice different this year is the elimination of the tax penalty for not carrying a minimum amount of health insurance. By 2020, the Trump administration wants to give states greater flexibility in offering plans as well as change some of the Essential Health Benefits (EHB) states must offer to meet ACA regulations.
Currently, all marketplace plans must offer 10 EHB that the federal government dictates. Over the next few years, states will have the freedom to choose their own EBHs for any benchmark plans offered. They can choose from among 50 EBHs that other states used for benchmark plans in 2017. The goal is to spur insurance carriers to become more creative and competitive with their policies to give healthcare consumers more options.
If you plan to apply for a tax credit in future years, you should expect a greater burden to prove that you qualify for one. Additionally, the new rule on tax credits will make people ineligible if they fail to file a tax return or reconcile any advanced premium tax credits (APTC) from prior years.
The Trump administration will also loosen the Medical Loss Ratio (MLR) for insurers. The MLR is the percentage of revenue that an insurance company spends on claims as compared to its overhead. In the past, health insurance providers had to meet a minimum MLR score of 80 percent. By lowering the score requirement, the current administration hopes to drive down health insurance costs because it frees more companies to enter the marketplace. Under the Final Rule, insurers no longer need to provide written justification for rate increases greater than 10 percent. It will jump to 15 percent in 2019.
Perhaps most importantly for those who rely on the open marketplace for health insurance coverage, insurers still can’t deny applicants with pre-existing health conditions.
“I am happy in today’s world to be able to compliment someone, not everyone enjoys doing what they do as Lisa did. I am on disability, was in the insurance field years ago in the 70’s and then went into the medical field and finished as a clinical supervisor. I know what I expected of my staff and Lisa exceeded all expectations. We just found your site the other night but I can assure you as our needs come up for different things we WILL be calling ALLIANCE.”D. Clair – Florida
“Felicia was a wonderful agent and helpful at every time. I would highly recommend getting your insurance needs met here.”S. Miller – Jacksonville, FL
You were willing to take this bull by the horns and run with it when no one else was interested. You have no idea how HAPPY I am right now. I have been fighting this battle for over a month and you came through. You diffidently will be my first contact for any future insurance needs and I WILL refer my friends to you.”Dennis A. – Tampa
Alliance Insurance saved me over $500 a year on my auto insurance. Plus they were able to get me affordable home insurance and flood insurance to cover all my needs. Thanks to Pearce and all the crew at Alliance Insurance.”David L. – St Augustine
Alliance Insurance saved me hundreds on my Workers Comp, General Liability, Group Health and Commercial Auto and Insurance needs. Thanks Alliance. I will be recommending you to all my friends.Tory H. – Orlando
My Agent at Alliance Insurance shopped all the Auto and Home Insurance companies to see who gave me the best rate and plan. Alliance’s agents are knowledgeable and very polite. I will put all my insurance’s with Alliance. Thanks for the savings!”John H. – Jacksonville
Alliance Insurance is the place to shop for all your insurance needs. I packaged my home and auto together and saved over $300 a year. My agent shopped around and got me the best rate. I would recommend everyone to use Alliance Insurance for finding the best insurance rates.Mary S. – Tampa, FL
I just saved over $400 on my Homeowners Insurance Florida with Alliance Insurance. My agent was very helpful, got me discounts I did not even know about and shopped all the carriers to make sure I was getting the best deal. Thanks Alliance! I will recommend you to everyone.Joan P. – Orlando, FL
You all have access to the most companies and got us the best price on our coverage.Jay Johnston, Jacksonville, Fl