Helping Wisconsinites Stay Up-to-Date on Healthcare Reform
Does all the national coverage on healthcare reform have you feeling overwhelmed? What does it mean for people with and without health insurance living in Wisconsin?
In response to our clients seeking practical advice and guidance for health insurance, we have created the Hanson Benefits, Inc. Full Steam Ahead Blog.
We will spend 2013 helping you prepare for the firestorm of changes that will happen in just twelve short months.
In 2014, three huge health insurance mandates will go in to effect. As licensed agents, it’s our mission to navigate, educate and advocate on your behalf to make sure you have health insurance coverage.
Individual Health Insurance Mandate
The individual health insurance mandate will require citizens to purchase “minimum essential” health insurance coverage or pay a fine. Tax credits (subsidies) will be given to those who cannot afford the minimum essential coverage, required by the United States Department of Health and Human Services (HHS). A “tax” will be assessed to those who do not have that health insurance coverage
Essential Health Insurance Coverage (50+ Employees)
Employers with more than 50 full-time employees will be required to offer “essential health insurance coverage” and that the coverage will need to be considered affordable, according to the Federal Government (9.5% of an employee’s income or less).
Health Insurance Exchanges (Individuals and Employers with Fewer than 50 Employees)
Insurance carriers in the individual and small group market (less than 50 employees) will be required to offer health plans that meet the “essential benefits” guidelines through HHS. In addition, health insurance exchanges will offer plans to include: Platinum, Gold, Silver and Bronze levels (narrow product portfolio). In Wisconsin, the federal government will be assuming responsibility for running the Health Insurance Exchange.
According to the HHS, navigators will be allowed to provide information on exchanges and will NOT be required to be licensed in order to do so. No oversight safeguards for the consumer have been set in place with these “navigators” as of yet, so we feel confident that our level of knowledge, expertise and oversight by the Office of the Commissioner of Insurance in Wisconsin will become even more important for the consumer navigating through the maze of insurance decisions to be made in 2014 and beyond.
Welcome aboard and stay tuned for more important health insurance updates. It’s full steam ahead with ObamaCare in Wisconsin.