Think of the Affordable Care Act (informally known as Obamacare) visually as an umbrella. What the Exchange is depends on what state you are in, and there’s either a federal or state Exchange that you’ll take part in.
What’s the enrollment process like?
In Texas, we take part in the federal exchange. Based on federal poverty guidelines regarding your income and the number of people in your household, you may be eligible for a subsidy, or coupon, off the cost of your health insurance. You may also qualify for a cost reduction or a reduction in deductibles and out of pocket expenses. In order to qualify for these two items you need to go through the exchange.
We Prequalify You and Help You Enroll
We can prequalify you and help you enroll—we ask you what your gross household income is (the income prior to taxes or any deductions) and the number of individuals in your household. This formula will determine if you are eligible for a discount.
Once we receive your eligibility letter, and if you’ve qualified, we’ll get the specifics on your discount. From there we’ll proceed to the different insurance carriers that are available in your area and narrow down your choices. Based on the plan you’ve chosen you can take your coupon and immediately apply this to your premium. You will not be charged for the full cost of your plan.
Due to media hype that’s circulated within the last couple of years, some people have expressed quite a bit of hesitation to enroll online. Many are concerned the process is not kept secure, and while there were some security issues during the initial implementation of the exchange, this is no longer the case. The process is now secure to keep your information protected.
Am I obligated to enroll as an individual?
If you make over a certain income guideline you are not required to go through the exchange. You can go directly to the insurance carrier and pick your particular plan from there.
We are licensed with all major carriers; let us help you find the best program to meet your needs and the needs of your family. Give us a call at 866.405.7226.