Park City, Utah (PRWEB) September 15, 2013
Today, Zane Benefits, the number one online small business health benefits solution, published new information on health insurance marketplace rates.
According to Zane Benefits’ website, anyone following the new health insurance marketplaces and the highly anticipated rate announcements over the last months knows that there's been a lot of buzz about whether the rates are high, low, or about what was expected.
Why the inconsistencies and confusion? All of the buzz aside, here are some facts to think about when comparing the health insurance marketplace rates to current market rates.
Old plans and new ACA qualified plans are impossible to be compared in an "apples to apples" comparison. The health insurance plans that will be sold to individuals and small businesses through the online marketplaces in 2014 will include different services than plans sold on the individual and small group markets today. Starting in 2014, individual and small group plans must cover a range of essential health benefits that were not always covered in the past.
Individual health plans become guaranteed-issue, meaning people cannot be denied coverage or charged more because of health problems and women cannot be charged more than men.
Premiums don't tell whole story either; deductibles, co-insurance, and co-pays play a role in the cost of coverage for consumers.
When you factor in these changes and considerations, it's nearly impossible to get a true "apples to apples" look at health insurance plan rates.
Rates aside, most people purchasing an individual or family plan through the new health insurance marketplaces are expected to qualify for a premium subsidy to offset part their premium costs.
The subsidies will be on a sliding-scale, and will cap the cost of the premium at between 2% and 9.5%, depending on income.
Click here to read the full article.
About Zane Benefits
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for Health Reimbursement Arrangements (HRAs) and defined contribution health care. The flagship software provides a 100% paperless administration experience to small businesses and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about ZaneHRA, visit http://www.zanebenefits.com.