With the affordable health care act, everyone has to have individual health coverage by January 1, 2014. All legal residents of California will need to have some type of insurance in place, either through their employer, or through an individual policy. This also includes families with children, and married couples who may have insurance on one person, but not family coverage on both spouses.
There will be a set of essential health benefits included in every individual insurance policy. There will include, but are not limited to, the following:
- Emergency services
- Hospitalization
- Maternity and newborn care
- Mental health
- Prescription drugs
- Laboratory services
- Preventative services
- Pediatric services (including vision and dental insurance)
The cost of the individual health coverage will vary, based upon your policy limits, deductibles, copayments and maximum out-of-pocket expenses. On average, higher deductible and larger copayments will reduce your overall premium for your individual health coverage.
There is a tax credit available for people who are currently considered low income. If you are wondering about the exact amount offered to your family, we have an easy to use calculator available. Just input the number of people in your household (this includes any children under the age of 25 who still live at home). Then enter your age, your spouse’s age and the number of children in each of the two categories. The calculator will give you an estimate on the amount you will pay out of pocket for insurance. This amount is based upon the premium for the silver plan, minus the amount of your tax credit.
Please keep in mind that this is an estimate, and the actual premium amount may vary. When you request a policy quote from us, we will include the amount offered as a tax credit and will provide you with the actual cost of your insurance policy.