Tuesday, October 22, 2013
Losing your insurance--now what
Companies that will eventually be required to cover people are ending their insurance in some cases and in others, the insurance companies are dropping the companies.
Sooo...if you get the letter, what should you do? First, I am not a trained expert in this--so you must decide for yourself.
Due to the nonperformance of the gazillion-buck website, Consumer's Union says wait a month to even attempt to get set up.
When you do try to pick apart plans and see what's what, there will be four levels--bronze, silver, gold and platinum. The better "metals" may be taxed as income. So bear that in mind. All will have deductibles--this means amts you pay from your own funds before the plan will pay anything except for the so-called "free" stuff like mammos and other preventive tests.
A preventive test, by the way, does not prevent the disease for the most part, just early death from it. Maybe.
But I digress.
The premiums will also be not less, but more, in more cases, than you pay now, even with a subsidy.
Your personal IRS agent will be talking to you about the subsidy. Or maybe the website will work one day and then maybe it will factor in your income and check for you. Who knows.
I had individual insurance all through my career--even though I had pre-existings...I joined groups that offered it, etc. Not sure whether you can even jump between the lilypads like that anymore.
Can you get it from an insurance agent?
Insurance agents know which drugs are on which plans, which plans pay fast (another thing--you may end up with insurance from a company you never heard of), which plans are going to be around.
This is a mess, so cowboy up--but for now, hurry up and wait.