I just sat in on a class with about 30-40 other Realtor's and professionals associated with our industry. It was put on by a lady who works in the health industry named true choice benefits. The numbers she was going over and the dates with deadlines was honestly staggering, and will affect all of us agents, particularly because most of us are 1099's.
How individuals will be affected 2014 and after
- Coverage must be guaranteed issue
- Essential benefits defined by each state with federal guidance
- No lifetime or annual dollar limits allowed on Essential Health Benefits
- Tobacco surcharge up to 50%
- Individuals must have health insurance or pay a penalty
2014-$95 per uninsured person or 1% of household income over filing threshold
2015-$325 per uninsured person or 2% of household income over filing threshold
2016 and beyond-$695 per uninsured person or 2.5% of household income over filing threshold
- Federal subsidies can only be obtained if buying through the Exchange, now called the Marketplace
- Metal plans are: Platinum, Gold, Silver, Bronze and Catastrophic plan for people under 30
- Federal subsidies for people earning between 133% and 400% of the Federal Poverty Level (FPL). Subsidies will be prorated based on income
There is a Department of Homeland Security review and an IRS/DHHS review to determine income (This is key because any past liens, or judgments can affect you and you'll be searched and pinged against several government data bases)
There were some other hard dates that will affect everyone in the U.S. namely next March 2014 when you will have to enroll in either Obama care or in private health plan, after-which you will not be able to enroll until the next fiscal year and incur penalties.
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