Tuesday marked the beginning of open enrollment for the Affordable Care Act, and there might be some mixed feelings in response to increases in premiums.
The average increase across the United States is about 22%, which also means that federal subsidies will also be going up.
‘If you’re currently receiving a tax subsidy, that means you’re supposed to pay a certain percentage of your income, and that income – percentage of income – is the same you should pay even after the price increase, but you have to go in and refigure your tax subsidy or you’re going to get stuck paying the higher premium,” said Ronald Hettler, president of Hettler insurance.
What seems to be one of the main challenges facing the “affordability” in the Affordable Care Act is a heightened for more enrollment.
“The people that aren’t inclined to get sick or don’t believe they’re going to get sick don’t buy, so their premium dollars don’t go into the pool, and end up increasing the cost for everybody else,” said Hettler. “If you’re young and healthy, or just healthy and fortunate, then you need to consider a bronze plan, they’re the least expensive plan, they have higher deductibles and check-ups are free under all plans, so don’t let a check-up stand in the way of buying a higher deductible.”
Hettler says regardless of what plan or insurance you go with, that there is no reason to not try to acquire some form of health insurance, and invites folks to visit with him and staff if they need assistance navigating through the process of enrolling.
Some dates to keep in mind: in order for your new health plan to kick in January 01, you must enroll or change your plan by December 15, however Hettler advises doing so before Thanksgiving.
January 31st is the last day to enroll or change a 2017 health plan.
