In 2014 most Americans will be required to carry health insurance under the Affordable Care Act, whether through an employer-sponsored plan, an individual plan or Medicaid. In response to the mandatory insurance requirement, California created a health insurance exchange called Covered California, designed to help individuals who do not receive employer-sponsored health insurance as well as small business owners.
In late May, Covered California officially announced the 13 health insurance carriers that will offer plans under the exchange in 2014. Among them are prominent names like Anthem Blue Cross of California and Kaiser Permanente. According to Covered California, individual plan rates offered through the exchange will range from 2 percent above to 29 percent below the 2013 average premium for small employer plans in the most populous regions of the state. For younger individuals and those who do not qualify for a subsidy, however, rates could be significantly higher. Consult with a health insurance expert to understand how the new law will affect you.
The full list of carriers that will offer coverage in the exchange include:
- Alameda Alliance for Health
- Anthem Blue Cross of California
- Blue Shield of California
- Chinese Community Health Plan
- Contra Costa Health Plan
- Health Net
- Kaiser Permanente
- L.A. Care Health Plan
- Molina Healthcare
- Sharp Health Plan
- Valley Health Plan
- Ventura County Health Care Plan
- Western Health Advantage
Plans will be offered under a four-tiered system within the exchange, from least to most expensive. The tiers are labeled Bronze, Silver, Gold and Platinum. Depending on income levels, individuals may qualify for a subsidy or tax break to help cover the cost of health insurance within the exchange.
Seek the Help of an Insurance Expert
In order to get the best rates and the most comprehensive coverage it is essential to seek out the help and guidance of a health insurance expert when deciding whether to purchase insurance in or outside of the exchange. Benefit Packages will be an Exchange Certified Agency and has decades of industry expertise. We can help you determine which option is best for you when the time comes, whether you are an individual or a business owner. Call us today for assistance at 1-800-356-3615, or visit our website for a California health insurance quote.