Attention all small groups and individual Health Insurance holders….How the Affordable Health Care Act will affect you?

At the end of 2013, the Affordable Health Care Act will begin enacting with October 1, 2013 being the open enrollment for many with new health coverage.  Before we go further, we want to let you know this is not our area of core competence, and much of this may change, however we wanted to deliver to you what we have experienced so far as well as let you know our recommendation.

Three Options for Your Health Insurance

If you fall into the small group or individual policy health plan (J.K. Financial, Inc. is the former, such our experience so far) you have several options coming your way soon.

1. Keep your current coverage and continue with no changes. By doing nothing you will be electing this option, which we do not recommend!
2. Pull your current renewal date to December 1st 2013. We recommend you strongly consider this option as it will extend your current coverage until Dec 2014 and give you the most options.  It is our understanding that all carriers are giving their clients the option to change their renewal date and are will be notifying this option via mail shortly.
3. Elect/Opt into the new government options available in January of 2014. We do not know what this is or the details and as such cannot recommend this at this time.

Every situation is different, so please review carefully, however it is our opinion that option two allows the most flexibility, and it is because of this reason we favor it over the others.

If you have questions feel free to email us for greater clarity and details, and remember there may be changes as we get closer to the end of the year.

Have a Great Monday!

John Kvale