You Are Not Alone! The Affordable Care Act Enrollment Period Has Started, And Charles White Is Here To Guide You Step By Step.
I was in need of medical insurance earlier this year and I contacted Charles White, ChFC, CPA for help. Charles not only sent me a quote for the insurance, he came to my home, explained the coverage and helped me enroll. In this day of everything being done digitally I was very impressed with the Charles’s emphasis on customer service! Recently Charles came back to my home to help a family member sign up for medical coverage! With all the controversy and confusion about medical insurance I asked Charles to take part in an interview for my blog so he could share his views about the changes in medical insurance, how they can affect you, and how he can help you through cut through the red tape.
Q – There seems to be a lot of negative feelings about the changes in how medical insurance is now being offered – what are your thoughts?
A – I can appreciate the fact that, we as a society, do not want the “government” to tell/force us to comply with something that we feel should be an individual’s choice. Having been involved in the marketing of life & health products for 40 plus years I have mixed emotions about the changes.
A – I can appreciate the fact that, we as a society, do not want the “government” to tell/force us to comply with something that we feel should be an individual’s choice. Having been involved in the marketing of life & health products for 40 plus years I have mixed emotions about the changes.
Q – We hear through the media mostly negative information about the changes in the medical insurance – the Affordable Care Act (Obama Care). Can you share with us some positive elements of the change?
A – I feel there are many positive results of the changes in medical insurance. One of the most important is the change in underwriting. Insurance carriers, offering individual medical insurance in the past, were able to closely underwrite each member of the family applying for coverage. In many cases a family member was rejected thus putting the family at a great financial risk because they were denied coverage.
A – I feel there are many positive results of the changes in medical insurance. One of the most important is the change in underwriting. Insurance carriers, offering individual medical insurance in the past, were able to closely underwrite each member of the family applying for coverage. In many cases a family member was rejected thus putting the family at a great financial risk because they were denied coverage.
Q – What has changed from an underwriting perspective?
A – A number of changes: 1. During the annual Open Enrollment for individual coverage a person can sign up with a carrier with no questions about the current or past health issues. 2. Outside of the annual Open Enrollment an individual may qualify for medical coverage if they have a “Qualifying Life Event” where they can get coverage without any medical underwriting.
A – A number of changes: 1. During the annual Open Enrollment for individual coverage a person can sign up with a carrier with no questions about the current or past health issues. 2. Outside of the annual Open Enrollment an individual may qualify for medical coverage if they have a “Qualifying Life Event” where they can get coverage without any medical underwriting.
Q – Please give us some examples of a Qualifying Life Event.
A – Losing your medical coverage because of a job change, moving to a new location, getting married/divorced and losing medical coverage, deciding to retire before age 65, and an employer deciding not of offer medical coverage are a few examples. During these changes an individual has a 60-day window to apply for medical coverage either directly with the insurance carrier or through the Marketplace – if they do not apply they generally will need to wait until the next Annual Open Enrollment.
A – Losing your medical coverage because of a job change, moving to a new location, getting married/divorced and losing medical coverage, deciding to retire before age 65, and an employer deciding not of offer medical coverage are a few examples. During these changes an individual has a 60-day window to apply for medical coverage either directly with the insurance carrier or through the Marketplace – if they do not apply they generally will need to wait until the next Annual Open Enrollment.
Q – You mentioned the Marketplace – how does that work?
A – A number of quality insurance carriers offer coverage through the Marketplace. The Marketplace is designed to help those people that generally might not purchase coverage because of the cost. For those individuals, with income less than 4 time the poverty level ($47,000), they can qualify for a premium credit that can be applied to the premium the insurance carrier charges for the coverage. If a person’s income is less than 2 ½ times the poverty level ($29,425) they can also qualify for a reduction in the deductible and other costs.
A – A number of quality insurance carriers offer coverage through the Marketplace. The Marketplace is designed to help those people that generally might not purchase coverage because of the cost. For those individuals, with income less than 4 time the poverty level ($47,000), they can qualify for a premium credit that can be applied to the premium the insurance carrier charges for the coverage. If a person’s income is less than 2 ½ times the poverty level ($29,425) they can also qualify for a reduction in the deductible and other costs.
Q – One of the big complaints is that medical insurance premiums are increasing to the point that people simply cannot afford to purchase coverage – what are your thoughts?
A – When you eliminate underwriting and anyone can qualify for medical coverage the insurance carriers are getting risks that they normally would not accept. This increased risk must be passed on to everyone seeking coverage. This is also where the Marketplace can be of value to the consumer. If you know someone with a serious medical issue I believe we all want to see them get help!
A – When you eliminate underwriting and anyone can qualify for medical coverage the insurance carriers are getting risks that they normally would not accept. This increased risk must be passed on to everyone seeking coverage. This is also where the Marketplace can be of value to the consumer. If you know someone with a serious medical issue I believe we all want to see them get help!
Q - In your opinion will the rates continue to increase dramatically each year?
A – This is a situation where we have to look at the big picture. If a person cannot afford medical coverage, and puts off seeking medical help, in many situations the problems grows worse. The person finally needs treatment and they go to the Emergency Room, or are admitted to the Hospital. They are unable to pay the bill causing the provider to write off the charges as a loss. This creates a situation where they need to increase their charges and then the insurance carrier raises their rates. The other choice is that the person qualifies for help under Medicaid – which the cost is passed on to the working class as a tax. Over time this should correct itself.
A – This is a situation where we have to look at the big picture. If a person cannot afford medical coverage, and puts off seeking medical help, in many situations the problems grows worse. The person finally needs treatment and they go to the Emergency Room, or are admitted to the Hospital. They are unable to pay the bill causing the provider to write off the charges as a loss. This creates a situation where they need to increase their charges and then the insurance carrier raises their rates. The other choice is that the person qualifies for help under Medicaid – which the cost is passed on to the working class as a tax. Over time this should correct itself.
Q – Any other issues that you think will help stabilize costs?
A - There are many other areas that can be addressed. We are starting to see better coordination between Doctors, and Hospitals are making changes. Because of the Marketplace the consumer can review and compare coverage so the carriers must compete openly for the business. Time and understanding will help.
A - There are many other areas that can be addressed. We are starting to see better coordination between Doctors, and Hospitals are making changes. Because of the Marketplace the consumer can review and compare coverage so the carriers must compete openly for the business. Time and understanding will help.
Q – Final thought.
A – It is hard to put into a Blog all of the reasons for the changes in medical insurance. In the past I have seen people with serious medical problems not able to get quality medical coverage. I have seen people wanting to start their own business but could not because they, or their family members, would not be able to get medical insurance if they left their employer. I have seen people with medical insurance move from one state to another and loose their coverage. There will be a number of changes, as are needed to implement a program of this size. Basically I see the changes in medical insurance as giving us the freedom of choice!
A – It is hard to put into a Blog all of the reasons for the changes in medical insurance. In the past I have seen people with serious medical problems not able to get quality medical coverage. I have seen people wanting to start their own business but could not because they, or their family members, would not be able to get medical insurance if they left their employer. I have seen people with medical insurance move from one state to another and loose their coverage. There will be a number of changes, as are needed to implement a program of this size. Basically I see the changes in medical insurance as giving us the freedom of choice!
Charles has become a trusted advisor for my family, in all of our health insurance needs. Securing adequate medical insurance is a major concern for many self-employed individuals like myself. Having Charles to rely on for guidance and advice has been a Godsend for us, and I encourage anyone needing help signing up with the Affordable Health Care Plan to contact him for assistance. Charles can be reached at 770-380-9727 or by email at charles@LTCIGA.com
Troy Adler is the CEO of The AdlerGroup LLC, and a Realtor serving the Northeast Atlanta Areas. To contact Troy to learn how he can help you with all of your real estate needs call 770-676-8999, or email adlertroy@gmail.com You can find more information on the AdlerGroup LLC website at http://troyadlerrealty.com
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