Health insurance tax credit. Under the 2010 healthcare act, eligible small employers (ESE) can purchase health insurance for their employees and receive a tax credit. The ESE must pay for at least 50 percent of the premium cost for employees, typically have no more than 25 full-time employees employed during the year, and their employees must have annual full-time wages that average no more than $50,000

Some Carriers are not taking children at all, others have open enrollment periods so you may only have insurance starting for these kids in the month of August and January.  With the rules and regulations changing on a daily basis, it is more important than ever to have a broker working for you.

Do you have Health Insurance but not prescription coverage? Example, we have a deductible Health Insurance plan without prescription coverage, why? It’s rather simple, we do not go to the doctors very often, our plan gives us 3 visits a year (we have a small co pay) and so we rarely need prescriptions.

What we decided on is the Oregon Prescription Drug Program. This is free to all Oregonians that do not have prescription drug coverage. In our case, why pay a premium if we rarely use it? With this plan we can save upwards to 60% on prescriptions. It’s free and easy to enroll.

You can apply on line at http://www.oregon.gov/OHA/OPDP/ApplicationPage.shtml. Once you applied a prescription card is sent to your mailing address. You can check on line what your cost will be for each prescription so you know up front what your cost is.

So why not take advantage of programs that are offered and free to Oregonians?

Have a great day….

Do you know what takes place first and when the bulk of the changes are to take place?

First:

• Insurance Companies will be prohibited from placing lifetime caps on the amount of money that can be eventually paid out on their polices.
• Insurance Companies will be prohibited from pulling your coverage unless in the case of fraud or intentional misrepresentation.
• Children will not be excluded from health insurance coverage due to pre-existing conditions. Plus, they can stay on their parent’s policy up to age 26.
• Small business that offer health insurance coverage to their employees will be eligible for tax credits up to 50% of the premium costs
• Seniors who fall into the coverage gap or “doughnut hole” in the middle of a Medicare Part D Prescription Plan will get $250.00 to help pay their bills.
• People with pre-existing health conditions will be able to enroll in a new, but temporary, national high risk insurance plan. (Oregon has had this in place for years and it is referred to as Oregon Medical Insurance Poll…OMIP and here is the link in case you are interested, http://www.oregon.gov/OPHP/OMIP/apply_omip.shtml

What I have not seen or heard is what the processes are for these change , with the exception of the last one. As I receive information I will update this blog.

The bulk of the changes are schedule to take place in 2014.

In my opinion, I base this on all the emotions that this has generated, I see several debates, perhaps adjustments to the plan in the up coming months and years

Immediate Changes

Small business that offer health insurance coverage to their employees will be eligible for tax credits up to 35%. Please check the below website to see if your compay qualifies.

• http://www.irs.gov/newsroom/article/0,,id=220809,00.html?portlet=6

• Seniors who fall into the coverage gap or “doughnut hole” in the middle of a Medicare Part D Prescription Plan will get $250.00 to help pay their bills in the year 2010.
• People with pre-existing health conditions will be able to enroll in a new, but temporary, national high risk insurance plan. (Oregon has had this in place for years and it is referred to as Oregon Medical Insurance Poll…OMIP and here is the link in case you are interested, http://www.oregon.gov/OPHP/OMIP/apply_omip.shtml
• Children can stay on their parent’s policy up to age 26.  Children must wait for the open enrollment period for their company to re-enroll
• Each Insurance company has different readings on the laws.  so what is good for one carrier may not be the same for another.
• COMING SOON
• Children on invidual plans will guarentee issue.
• Preventitive procedures will not be subject to deductible.
• Most of the other changes will take effect in 2014

First and foremost, people need enough insurance coverage. Health insurance that is linked to a job or is insufficient because it doesn’t include preventive care is causing millions of people to avoid the care they need and to be vulnerable to devastating medical bills.

In addition to increased coverage and better access to care, the way health care is delivered and funded needs to be overhauled. Health care should be better coordinated and providers should be reimbursed based on their patients’ healthy results; not the number of tests and treatments done. In the end, these changes can help make health care more focused on helping patients get healthier.