What if I make too much for Medicaid but still can't afford coverage?

Free Quote: http://www.mintcofinancial.com/health-insurance-obamacare-quote

Call 716 565 1300

What if I make too much for Medicaid but still can't afford coverage?

You might be eligible for government subsidies to help you pay for private insurance that would be sold in the new state-based insurance marketplaces, called exchanges, slated to begin operation in 2014.

Premium subsidies will be available for individuals and families with incomes between 133% and 400% of the poverty level, or $14,404 to $43,320 for individuals and $29,326 to $88,200 for a family of four.

The subsidies will be on a sliding scale. For example, a family of four earning 150% of the poverty level, or $33,075 a year, will have to pay 4% of its income, or $1,323 annually, on premiums. A family with income of 400% of the poverty level will have to pay 9.5%, or $8,379.

In addition, if your income is below 400% of the poverty level, your out-of-pocket health expenses will be limited.

Free Quote: 

http://www.mintcofinancial.com/health-insurance-obamacare-quote

Call 716 565 1300

When is open enrollment 2016: Health insurance

Open enrollment for 2016 begins November 1, 2015 and ends January 31, 2016.

Basic Health Program coming in 2016

On April 17, New York State of Health announced that they will introduce a Basic Health Program (BHP) in the fall dubbed the “Essential Plan.”  It will be available during the general open enrollment that begins on November 1.  BHPs are an option available to all states under the ACA, but thus far, only New York and Minnesota have received federal approval for their BHPs.

In New York, the BHP will be available from a variety of private carriers, will have no deductible, and will have no premium for enrollees with incomes up to 150 percent of the federal poverty level.  Enrollees with incomes at 200 percent of the federal poverty level will pay just $20 per month in premiums.  Currently, enrollees with incomes between 138 percent and 200 percent of poverty are eligible for premium subsidies and cost-sharing subsidies, but switching to a BHP during the upcoming open enrollment may result in lower premiums and lower cost-sharing.

Call 716 565 1300 to enroll or email us at mminter@mintcofinancial.com

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