Health Insurance Changes in October - KMOT.COM - Minot, ND - News, Weather, Sports

Health Insurance Changes in October

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Changes are coming to your health insurance in the upcoming months that may or may not be beneficial to you. There will be a new set of rules starting January 1 that will make shopping for health insurance completely different for those on their own or who are uninsured.

The Affordable Care Act will require health plans to sell coverage to everyone, regardless of pre-existing conditions.  However, if you currently don't have or don't want insurance, you can expect to pay a hefty penalty if you don't purchase coverage.

"The penalty for 2014 is going to be $95 per person with a maximum of $285 per family. Or, one percent of your adjusted gross income, whichever is more," says spokesperson Mike Fierberg, Centers for Medicare and Medicaid Service.

Senior citizens on Medicare who have an income higher than $85,000 would pay a surcharge on their Part B premiums. Currently, fewer than 1 in 20 seniors pay higher-income premiums. But, that percentage is likely to grow in coming years.

"I'm satisfied the way it is. I'm getting the benefits I need, and that's all I need," says Medicare patient Marie Krebs.
 
It's possible everyone will paying more in exchange for universal coverage.  

"I don't like it. I was satisfied with what I had, and we can't afford much more," says Medicare patient Audrey Magnuson.

There are positive and negatives to the Affordable Care Act, but staying informed of the changes is the most important thing you can do.

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