Is Enrolling in Affordable Healthcare Enough Protection?

Assistance to Navigate Affordable Care 
(Healthcare.gov) Enrollment Website

Did you know that you may be eligible to enroll in the Affordable Healthcare at any time of the year; not just during open enrollment? Last year at tax season the government created an extension to the deadline for late comers and even many accountants and tax professionals did not know about it; but we did. There is much that people don't know about the Affordable HealthCare Act and that is where you need a professional. 

The “we” is me and my fellow insurance agents at HealthMarkets. To be a “navigator”, a person trained to help others enroll at Healthcare.gov required certification (which I as an insurance professional have and update every year). If you work with a navigator who has a table set up at a public library or somewhere, they get paid about $35,000 a year for this job to help people enroll. When I help people I either don’t get paid, or I get paid a very small amount from the Health Care Company that I enroll a person in but it is pretty minimal. So why do I help people enroll in the Affordable Care Act? It’s because I’m a nice guy and I like to help people. OK, while that’s true, I also hope to enlighten people in seeing the facts that are right in front of their face so that hopefully I can help them more. 

The facts are this: that with being enrolled in the Affordable Care Act you are first fulfilling the law (sort of like the “draft”; you “have” to do this or pay a penalty which increases over time) and secondly you are making sure that your doctor gets paid. So now think a moment, what’s missing from this; who is not getting paid or protected? The answer of course is “you”.

You are left with a deductible (that may or may not be “affordable” but that’s another story) that you still have to meet. Sure, the government gives you a subsidy that makes up for some of this (but they don’t actually give you the “cash” so it’s just “air” or if you like “smoke and mirrors”). I’m not trying to bash the program but simple math tells you that if I say I’ll sell you my car for $5,000 but I’ll pay $2500 of it, your actual cost is $2500; I could have just told you the price was $2500.

Anyway, after all of this, you are left with the deductible and left unprotected. That’s where I come in. I create a “corporate style benefits type program” that has different products and levels of those products that fit your needs. This “corporate” type of program emulates what you would get if your company was offering you “group” insurance. We can even get pretty close to that “group” pricing too because with me as an agent for HealthMarkets, I offer products from over 140 insurance companies. I’m not tied to any one company so I’m not inclined to “sell” you something because I need to be “loyal” to any one company.

I understand too that after helping people with enrolling at Healthcare.gov that they feel that they cannot afford or need anything else. Obviously everyone knows that this is never the case but I don’t argue; I just lead people to the “water”.

One can also change the amount of any insurance product and even add or subtract things as they go on in life. This is why it’s important to first start with an assessment, do a quick yearly assessment because it truly has to do with your life and legacy.

I invite your questions and comments.

Make it a great day!

Terry (Ter) Scott

HealthMarkets site. 

Overall Life and Legacy products (insurance, income and safety)

Terry Scott is an insurance agent in the life and health category but offers so much more than most agents, such as income and safety products and services. He is licensed in Wisconsin, Minnesota and will offer assistance to anyone in any state.