All Posts tagged health insurance

Common Insurance Policy Myths Debunked

Common Insurance Policy Myths Debunked

Insurance Misconceptions

Most people do not consider insurance the most riveting topic of conversation. However, not talking about insurance can lead to you not fully understanding all the benefits that your policies offer. Know the truth behind these insurance policy myths to ensure that you have the right amount of coverage.

  • Insurance is a waste of money – if you ever have to deal with a loss, you will be glad that you have insurance. Without insurance coverage, you will be left paying for any repairs that are needed after an accident at your house or with your vehicle.
  • Let your insurance company know about every issue – while you have the option to let your insurance companies know about each and every issue that you have, small issues may be better left fixed on your own. The more claims you make to your insurance companies, the higher your premiums will be.
  • Everyone needs life insurance – if you do not have any dependents or an income, you may be able to skip out on life insurance. Keep in mind that the younger and healthier you are when you invest in a policy, the cheaper your premiums will be, so you may want to consider investing in a policy before you reach any major life milestones.
  • All real health insurance policies have a copay – some health insurance policies require you to pay a percentage of the total medical bill as opposed to a copay, while others will reimburse you after you cover the total cost. Not all legitimate health insurance policies come with a copay.

Contact the Insurance Agency of Dean Davis in Austin, Texas for all of your insurance coverage needs. We will work closely with you to make sure that you invest in the right policies that will meet your specific needs, all at the right price.

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The 2015 Open Enrollment Period for the Health Insurance Marketplace

Already have your individual health insurance set for 2014, but you’re interested in changing over to an Affordable Care Act plan from the health insurance marketplace in 2015? The open enrollment period for next year starts November 15th, 2014 and remains open until February 15th, 2015. While you have some time to wait before enrollment is available again, this gives you plenty of time to compare and contrast the different plans. 

One of the benefits of purchasing health insurance through this marketplace is the varying plan levels that adjust the premiums and deductibles so it’s easier to find numbers that work for you and your family. While individual health insurance is tied to the enrollment period, small group health insurance for businesses is not. A business has the option of enrolling into a group plan for its employees at any time during the year. 

Learn more about health insurance plans in Texas by contacting the health insurance experts, onlinehealthexchange.com, working with the Insurance Agency of Dean Davis, based out of Austin. 

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Making Sense of the New Health Care Transition Policy

On March 5, 2014 President Obama’s Administration made another significant health care announcement.  In order to accommodate more Americans, the White House announced a two-year extension to the transition policy for individual and small group health plans that do not comply with the Affordable Care Act’s market reforms.

These requirements will render many major health insurance plans illegal, due to tighter restrictions that are designed to protect consumers from huge bills and debt. During this transition policy, which will be in effect through October 2017, plans that don’t comply with the Affordable Care Act won’t be terminated, and consumers won’t be penalized for keeping them.

This isn’t the first extension since open enrollment began on January 1, 2014.  Widespread website issues prevented many from signing up for health care coverage, so tax penalties were waived for the rest of 2014.  Now they’ve been extended another month.  So what does all of this mean? Americans without health care now have until February 15, 2015 to take advantage of open enrollment and get insured. Those who already have health care — but who faced cancellation because of stricter rules — have more than three years to seek compliant coverage.

To learn more about health insurance coverage options in Austin, Texas, contact the experts, onlinehealthexchange.com, working with Insurance Agency of Dean Davis.

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No health insurance? See if you still qualify after open enrollment closes

Deadlines for open enrollment for health insurance coverage through private insurance agencies are quickly approaching. Open enrollment is expected to close at the end of March. Soon, those without health insurance will not be able to enroll until next year‘s open enrollment period, unless they have a qualifying event. Those with a qualifying event will be able to enroll for health insurance after the March 31st deadline, however, they must enroll within 60 days of the event occurring.

Qualifying events include:

• Getting married
• Change in family size by having a child, adopting and the placement of a child
• Relocating to an area with different health plan options
• Losing health coverage
• A change in income or household status that would affect eligibility for tax credits

Those seeking health insurance coverage through Medicaid or the Children’s Health Insurance Program can apply at any time, regardless of open enrollment or qualifying events.
This year’s open enrollment ends March 31, 2014 and next year’s proposed open enrollment will not begin until November 15, 2014.

For more information about your health insurance needs in the greater Austin, Texas area contact the Insurance Agency of Dean Davis. The agency and health insurance expert, onlinehealthexchange.com can help get you signed up for your health insurance coverage.

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The Deadline for Open Enrollment is Coming — Don’t Miss it Or You’ll Go Without Coverage

The final deadline for open enrollment for a health insurance policy is March 31st, and it will arrive much sooner than you realize. It’s important to get coverage before this date in order to avoid penalties come tax time in 2015. If you miss the open enrollment deadline, you are essentially out of luck for coverage unless you have a qualifying event. Not having a qualifying event means you’ll be without any health insurance until the next open enrollment period begins.

Note that this is the only year that goes to March 31st for signups. The problems with the Healthcare.gov’s website caused officials to extend the enrollment period to accommodate those who were unable to enroll due to technical problems. The next time that the exchanges will open up isn’t until October 15, 2014, and it closes on January 15, 2015. This is to obtain health insurance coverage for 2015.

If you are avoiding signing up because you can’t afford a policy, you may qualify for a subsidy. All tiers of coverage can have their premium cost reduced by a subsidy, and this can make a basic policy that much more affordable.

Are you in the Austin, Texas area and in search of an insurance policy? Contact the Insurance Agency of Dean Davis today. The Agency of Dean Davis is working with the expert onlinehealthexchange.com to help people get enrolled.

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Don’t Miss The Affordable Care Act Open Enrollment Deadline

If you have not yet signed up for health insurance under the Affordable Care Act, then you still have a little time left. The open enrollment period runs through March 31, 2014, and after that date you are unable to obtain health insurance for the 2014 year. Other deadlines are just for an effective date earlier in the year with this being the final deadline.

The only way that you can get health insurance after this period is if you have a qualifying life event, such as a marriage, death or loss of other coverage. It is important to note that this is the only year that open enrollment goes through the end of March. For 2015, the open enrollment period starts on October 15, 2014 and ends on December 7, 2014.

You may even qualify for a tax subsidy that helps lower the cost of your health insurance under the Affordable Care Act.

For more information on health insurance in the greater Austin, Texas area, contact the Insurance Agency of Dean Davis today. The agency and health insurance expert onlinehealthexchange.com can get you signed up for health insurance now.

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Can I Still Obtain Health Insurance?

Health insurance coverage has been extended to December 31, 2013, so those that still haven’t obtained health insurance coverage will still be able to do so without penalty through this date and remain covered through 2014. However, those that purchase insurance after this date may face some penalties.

Through March 31, 2014, individuals will still be able to obtain coverage for the 2014 year. However, this coverage won’t actually be in effect until the end of May, and covered individuals will be responsible for penalties that accrue throughout the period that they are uninsured.

It’s important for everyone who is not currently insured to contact an insurance agency to find out more as soon as possible. Those that feel that they cannot afford insurance may be eligible for subsidies from the government that will provide some or even the majority of the cost of health insurance for them and their families.

For more information about health insurance policies contact Insurance Agency of Dean Davis, the health insurance expert of Austin, Texas.

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