Health Market Group

(PRWEB) June 14, 2013

Steve Moore from The Wall Street Journal reported on Fox News that many Americans will lose their current individual health insurance coverage as the roll out of Obamacare begins this fall. He is referring to the idea that the current individual health insurance plans that some people have today will not be in compliance with the “essential health benefits” and other criteria of the Affordable Health Care Act, commonly referred to as Obamacare. The conventional wisdom some insurance carriers and others are operating with is that the current health insurance plans that insureds have will be terminated by the health insurance carrier and replaced with a “metallic” health exchange plan.

America’s Health Insurance currently has health insurance carriers that are offering private individual health insurance plans that insureds will be able to keep until the next renewal date of that particular plan. In addition to this, some of these individual health insurance carriers will be offering “rate holds” on the plans that are purchased now until such time as the renewal date occurs. These health insurance products will not cancel at the end of this year and they will remain in-force through the year of 2014 upon renewal.

The other consideration the buying public needs to know about it is that America’s Health Insurance, LLC is hearing from health insurance carriers that the marketplace or exchange plans (so called metallic plans) will more than likely have very restrictive and/or reduced networks attached to them. The floated notion early on that the health insureds can keep their current doctors and/or hospitals may or may not be a reality.

Many of our carriers currently are offering health insurance plans that allow purchasers to choose more benefits, have more deductible choices, various coinsurance levels and various out of pocket levels. The really great news is that many of these plans will not be cancelled when the roll out of the Affordable Care Act occurs in the fall of this year. Insureds will be able to keep these plans that are fairly priced and include the benefits they want to buy until the plan renewal date of 2014. Even if insureds have coverage today, they may change to these types of plans.

Who should be interested in buying these plans with the rate holds? First, the young—these plans should be a must, so people ages 19 to 35 would greatly benefit from these plans that can be purchased now. Secondly, individuals who have group coverage through their employer, but the employer makes them pay for the spouse/dependent coverage. Thirdly, a family who is not interested in maternity and not currently pregnant would benefit from the plans with the rate hold design. Fourthly, any age person up to Medicare age 65 who is considered healthy enough to go through medical underwriting, which in many cases, is more lenient now than before the legislation passed.
 

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