Health and Dental Insurance

With the passage of the Affordable Care Act, consumers who do not obtain creditable health care coverage through a corporate health plan, face a new challenges in getting their own health care coverage for themselves and their families. Two options now exist. Coverage can be obtained through either the state or federal Marketplace or directly with health care providers. Plans purchased through the Marketplace are also known as On-Exchange plans while those purchased directly from health care providers are known as Off-Exchange plans.

 

Stephen Stellhorn has completed all registrations and is certified to act as an agent in selling health care plans through the Health Insurance Marketplace for individuals as well as the SHOP Marketplace for small businesses.

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Federal Health Insurance Marketplace

 

Plans in the Health Insurance Marketplace are presented in 4 "metal” categories: Bronze, Silver, Gold, and Platinum. Metal categories are based on how you and your plan split the costs of your health care. They have nothing to do with quality of care. Below are estimated averages for a typical population. Your actual expenses will vary.

  • Bronze: Insurance company pays 60%, you pay 40%.
  • Silver: Insurance company pays 70%, you pay 30%.
  • Gold: Insurance company pays 80%, you pay 20%.
  • Platinum: Insurance company pays 90%, you pay 10%.
  • Catastrophic plans are also available to some people.

Plans are offered within a HMO (health Maintenance Organization) or EPO (Exclusive Provider Organization) network of providers.

Health Care Providers

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Considerations When Choosing

 

There are many considerations when deciding to obtain health insurance on your own. Basic questions include:

 

  • Should I do it myself or work with a knowledge agent?
  • Which is right for me - an HMO or PPO network?
  • How much of a premium can I afford?
  • What size of deductible am I comfortable with?
  • Do I want to contribute to a Health Savings Account (HSN)?
  • Are there existing physician relationships I want to maintain?

The Fee for not having Creditable Health insurance in 2016

 

If you do have have creditable health care coverage, you may be subject to a fee. If you have coverage for part of the year, the fee is 1/12 of the annual amount for each month you (or your tax dependents) don’t have coverage. Anyone with a gap in health coverage of no more than 2 consecutive months can claim the short-gap exemption. The fee is calculated 2 different ways – as a percentage of your household income or per person. You’ll pay whichever is higher.

 

Percentage of Income

  • 2.5% of household income
  • Maximum: Total yearly premium for the national average price of a Bronze plan sold through the Marketplace Per person

Per Person

  • $695 per adult
  • $347.50 per child under 18
  • Maximum: $2,085

 

Financial Disclosure & Disclaimer Statement

 

Stephen J. Stellhorn, MSM Capital Management, LLC and any of their affiliates or any FINRA/SEC member firm(s) or insurance companies they may be affiliated with, either individually or severally, assume no fiduciary or other responsibility or liability for any consequences, financial or otherwise, arising from any investments in the securities, equities, bonds or other fixed income investments mentioned herein.

 

The content on this site is provided as educational purposes only and should not be taken as insurance and/or investment advice. All site content, including any advertisements which may appear, shall not be construed as a recommendation to buy or sell any security, financial instrument or insurance product, or to participate in any particular trading or investment strategy. The information on this site has not been prepared with regard to the specific investment objectives, goals, risk profiles, financial situation and particular needs of any particular investor or group of investors. This site cannot disclose all the risks and other significant aspects of warrants and/or any other financial instruments mentioned herein.

 

Investing in the financial markets can involve considerable risk and loss of money. Past performance is not necessarily an indication of future performance. Investments are NOT FDIC insured. You should make your own independent appraisal of the risks and should consult your own legal, financial, tax, accounting and other professional advisors in this respect prior to making any investment decisions.

 

All opinions and estimates included on this site constitute judgment as of the date indicated or this date (as applicable) and are subject to change without notice. These are the opinions of Stephen J Stellhorn, MSM Capital Management, LLC and its affiliates ONLY and are NOT reflective of the views, opinions or expressions of any FINRA/SEC member firm(s) or insurance companies which Stephen J. Stellhorn and/or MSM Capital Management, LLC may affiliate with in the future. No representation or warranty, express or implied, is made as to its accuracy, adequacy, completeness, timeliness or correctness for any particular purpose. Any warranties, whether express or implied or any statutory warranties of any kind are hereby disclaimed.