ACAenroll.com Provides Tips on How to Reduce Health Insurance Premiums and Out-Of-Pocket Costs through Advance Premium Tax Credits and Subsidies

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Consumers run the risk of being penalized for not adhering to the Affordable Care Act regulations or missing out on valuable benefits such as government subsidies to reduce health insurance premiums.

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If for some reason the Marketplace plan is still too expensive and the individual just can’t afford this, ACAenroll.com agents can also provide some options, like Short Term Medical or Limited Health Plans that provide some coverage at a much reduced rate.

“With Open Enrollment Period ending this Friday, December 15th, many consumers are still confused as to how the Affordable Care Act (ACA) rules are applied and how to determine if they qualify for government subsidies,” explained Bob Dial, Chief Compliance Officer, ACA Marketplace Enrollment Solutions(ACAenroll.com). “As a result, many Americans run the risk of selecting a plan that is not suited for their budget or healthcare needs or even more costly, would be missing the Open Enrollment Period deadline altogether, leaving them open to expensive government penalties and the financial hardship that can result when not having adequate health insurance.”

Dial provides clarification on ACA Rules:
Fines for Not Having Qualifying Health Plan Coverage:
There is still a PENALTY for those individuals that do not have a Qualified Health Plan. This fine can be quite high, depending on the person’s household income. For 2018 the penalty for an individual will be the HIGHER amount, $695 or 2.5% of their household income.

IRS Regulations:
An important point is that the IRS has announced that it would step up its enforcement of the individual mandate by automatically rejecting electronic returns for tax year 2017, for those individuals that did not have a qualified health plan.

  • If a consumer has an outstanding premium balance from their 2017 health plan, the carrier may refuse issuing new coverage, until that premium is paid.
  • If a consumer has not yet filed their 2016 Federal Tax Return, the consumer may not be eligible for any premium subsidies.

Qualification for Subsidies:
Subsidies are still available for those individuals with incomes of less than $48,000 (4 times the federal poverty level of $12,060.) Many factors need to be calculated to determine subsidy eligibility and monthly health insurance premiums

ACAenroll.com can be a very helpful resource to consumers. ACAenroll.com can provide tips on how to select the best health insurance plan that is tailored to meet the health needs and budget for individuals and their families and ensure that they obtain the appropriate tax subsidy to help reduce their premium.

Dial added, “If for some reason the Marketplace plan is still too expensive and the individual just can’t afford this, ACAenroll.com agents can also provide some options, like Short Term Medical or Limited Health Plans that provide some coverage at a much reduced rate. Even when taking in to account the tax penalty, many times their cost can be half the cost of a Marketplace plan.”

ACAenroll.com stands ready to assist consumer with all their enrollment needs. Their dedicated Call Center consists of a team of multi-lingual, health insurance professionals, which are trained to walk a client through the entire process of selecting a healthcare plan and enrolling them for their coverage, as well as responding to any questions they may have regarding their new health insurance policy. The ACAenroll.com Call Center will be available to assist consumer with enrolling for their 2018 health plan. Go to http://www.ACAenroll.com or call 1-800-342-0631 for more information.

About ACA Marketplace Enrollment Solutions:
Headquartered in Bedford Park, Illinois, ACA Marketplace Enrollment Solutions (aka ACAenroll.com) is a national enrollment firm specializing in the Health Insurance Marketplace as well as variety of other ancillary health insurance products, including Dental, Critical Illness, Short Term Medical, and others. ACAenroll.com provide enrollments services throughout the country, through national and regional insurance carriers. 2018 Plan year Open Enrollment ends Friday, December 15, 2017. Go to http://www.ACAenroll.com or call 1-800-342-0631 for more information.

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