Affordable Care Act – How Taylor Insurance Can Help
Taylor Insurance will provide you with accurate information about your health insurance options.
Finding the right health insurance plan that meets your health needs and your budget can seem complicated — but we’re here to help.
Since the Affordable Care Act requires everyone to have health insurance or pay a tax penalty, it’s good to know your options so you can make the right choices during Open Enrollment.
Are you navigating the health insurance exchange on your own? Confused or overwhelmed by your options? Here are some helpful tips and information to keep in mind when considering your options:
- whether or not you must get health insurance
- what the available plans cover
- how much coverage will cost
- how to sign up for a plan
- AND how to get help if you need it.
Q.) Wondering if there are different networks of providers?
A.) Yes, there is. You will need to investigate your access to care, or you can give us a call and receive an overview of your different options.
Q.) How much will insurance cost me?
A.) What you’ll pay for health insurance depends on five things:
- The level of coverage you choose
- Whether you qualify for a subsidy
- Where you live in Idaho
- Your age
- Whether you smoke or use tobacco
Q.) How do subsidies work?
A.) If your household income is between 100% and 400% of the federal poverty level, you likely will qualify for a subsidy to help offset the cost of buying health insurance. The subsidy is paid to the health insurance carrier of your choice on a monthly basis. You do not pay the full premium and then get reimbursed.
Q.) What income is utilized to calculate the tax credit(subsidies)?
A.) It is your modified adjusted gross income, which would include such items as, Wages, self-employment, tips, unemployment, social security, social security disability, retirement or pensions, alimony, rental income, and investment income. Subsidies are based on your expected household income for the year you want coverage, not last year’s income. You must make your best estimate so you qualify for the right amount of savings.
We can ensure that you are getting the appropriate subsidy to help pay for the monthly premium, thereby , paying the least amount possible for your health insurance.
Q.) What will it cost me to use your services?
A.) Nothing, our services are free.
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