Have Questions About The Health Insurance Marketplace?
Serving All of Idaho / Your Local Resource
Welcome to your Local resource for Idaho's Health Insurance Marketplace (or "Exchange"). Idaho's Insurance Marketplace must be up and running by 2014 and available to all individuals and small employers up to 50 employees.
If you are unsure of your effective date after choosing a plan, CALL US TO VERIFY YOR EFFECTIVE DATE !!! DO NOT CANCEL YOU CURRENT POLICY UNTIL YOU KNOW EXACTLY WHEN YOUR NEW PLAN STARTS TO AVOID A LAPSE IN COVERAGE.
IDAHO INSURANCE AGENCY LLC
Direct Phone Number: 208-377-7101
AFFORDABLE CARE ACT
What is the Affordable Care Act (ACA) and who does it effect?
Enrollment Administrative Rules
Beginning October 1, 2013 your health care plan will be subject to change.
Our online health Insurance Marketplace tool (to the right) will help you choose qualified health plans and costs. Those opting into plans will become effective January 1, 2014 or upon your renewal.
Health Insurance Marketplace plans in effect prior to March 23, 2010 may be able to keep existing pool and plan designs (If no changes have been made since plan enrollment)
Change to Individual Effective dates:
Contact us to determine if an Insurance Marketplace option is right for you, at no additional cost to you!
Some regulations are already in place:
INSURANCE MARKETPLACE PLANS
Primary regulations will become effective January 1, 2014 or upon renewal.
Health Insurance Marketplace carriers won't be able to deny applicant's healthcare coverage based on pre-existing medical conditions and must apply the same rates as other's receiving the same coverage, though there may be slight variances based on age, geographical location and smoking status. Know what plan is right for you!
Health Insurance Marketplace plans will be standardized in 4 coverage tiers based on the percentage of the total allowed cost of benefits on the percentage of the total allowed cost of benefits paid by a health plan on average.
Health Insurance Marketplace carriers won't be able to deny applicant's healthcare coverage based on pre-existing medical conditions and must apply the same rates as others receiving the same coverage, though there may be slight variances based on age, geographical location and smoking status
Advanced Premium Tax Credit (APTC)
The APTC is a new kind of tax credit that can save you money by lowering your monthly premium payments based on your income when you buy through the Exchange. If your household income is less than 400% of the federal poverty level you may qualify, provided you or your spouse don't have access to insurance through your employer you can qualify.
Paying for Health Insurance
The APTC is a new kind of tax credit that can save you money by lowering your monthly premium payments based on your income when you buy through the exchange. Depending on how much money you earn, or if you are a Native American or Native Alaskan, you may be able to get help paying for your health insurance.
If your household income is less than 400% of federal poverty level ($44,680.00 for individuals, $92,200 for a family of four) and you or your spouse do not have access to insurance through your employer you may qualify for assistance.
The attachment indicates the income level by family size to qualify for premium cost sharing subsidies, there will also be unique provisions for Native American / Alaskan Native. The lower the AGI (adjusted gross income) the richer the subsidy under the health exchange.
Cost Sharing Subsidy
The cost-sharing subsidy can lower your out-of-pocket-expenses (your deductible and co-insurance payments) based on your income when you buy through the exchange. If your household income is less than 250 percent of the federal poverty level (See attached income guidelines) …you may qualify for the cost-sharing subsidy if you or your spouse do not have access to insurance through your employer.
Beginning on January 1, 2014, any person without qualifying health coverage must pay a tax penalty, either a flat rate or a share of household income, whichever amount is greater. The flat rate penalty is phased-in: starting in 2014 at $95 per year, increasing to $325 in 2015, and $695 in 2016. After 2016, the flat rate tax penalty increases annually with a cost-of-living adjustment. The maximum flat rate tax for a family per year is $2,085 (3 times $695), no matter how large the family.
The other option is a penalty based on a share of household income that is also phased in, starting in 2014 at 1 percent of taxable income, increasing to 2 percent of taxable income in 2015 and maxing out at 2.5 percent of taxable income in 2016 and the years that follow.
This information is for general information purposes only. It doesn't necessarily address your specific issues and is subject to change. It should not be construed as, nor is it intended to provide, legal advice. Questions regarding specific issues and application of these rules to your plans should be addressed by your legal counsel. This information may be subject to change prior to inception. This website is privately owned and operated, and is in no way endorsed, affiliated or associated with any Federal, State or Local Government entity.
CALL US WITH ANY QUESTIONS AND TO DISCUSS YOUR SPECIFIC SITUATION