More Good News!

  

 The current Special Open Enrollment Period will come to an end on August 15^th.   Many of you have taken advantage of the changes in the Tax Credit Subsidy.  Several of my clients have saved over $1,000 per month!  We have one more change coming next week. 

First, let’s review the Tax Credit Subsidy.  This may be one of the most important changes of the new law.  The Patient Protection and Affordable Care Act (Obamacare) included provisions to help Americans pay for their health insurance, the way most of us access and pay for health care.  The 2010 law created Tax Credit Subsidies which were tied to the Federal Poverty Level.  If you, or you and your family, earned less than 400% of the FPL, you could get help.  This was never updated till now.  The new subsidies are going to increase for most of you who have policies on the Exchange.  And the 400% cut-off is going to be eliminated for at least 2021 and 2022.  Instead, the law will extend benefits to all Americans purchasing their own coverage on the Exchange with a goal to limit the cost of insurance to no more than 8.5% of their income.   These changes will impact over 3 million Americans this year. 

One of the provisions of the American Rescue Plan Act of 2021 is a special subsidy for anyone who has received unemployment compensation during 2021.  Even if you only received one week of unemployment, you may be eligible for a significant reduction in your monthly premium.  The system will be ready as of July 1^st and your new, LOWER premium will start as of August 1^st for the rest of the year.  

     Action:

·         If you are currently on the Exchange, you should review your current subsidy.  You may qualify for a higher subsidy which would lower your premium or allow you to switch to a more comprehensive policy.

·         If you are not currently on the Exchange but you or a family member received unemployment in 2021, you need to see if you, or you and your family, now qualify for a subsidy.  There’s no guarantee that you will, but it doesn’t hurt to try.

 Delivering good news isn’t normally part of my job description.  This has been a lot of fun.  A large number of you are fully vaccinated and agents are enjoying the return of in-person appointments.  Whether you meet in your agent’s office or by phone, it is time to save some money. 

We are all in this together. 

Dave 

Picture – More Good News – David L Cunix

They Don't Have A Leg To Stand On

 

“What right does Texas have to take away my insurance?”  I can’t tell you how many times my clients have asked me that question.  The Texas Lawsuit has weighed heavily on many of my clients, especially those with preexisting conditions.  The idea of eliminating the Patient Protection and Affordable Care Act (Obamacare) and all of its protections with nothing, scared the daylights out of many of us.  Who would sell health insurance to someone with cancer?  Where would a pregnant woman, or even a family that wanted to have children, get covered?  The answer, of course, was to have faith that the system would not fail them.  Whether help would come from the State of Ohio, our elected representatives in Washington, or the Supreme Court, someone would step up and protect them.  Someone will do the right thing for them.  Have faith.  Be patient.  Don’t worry. 

To be clear, I may have had faith, but I was more than a little worried. 

Today, in a 7 – 2 ruling, the Supreme Court saved my clients and Obamacare for the third time.  As always, the best analysis of the decision was written by Amy Howe at ScotusBlog.  I strongly urge you to read her three page post. 

On June 17^th the Supreme Court ruled what many of us had suspected, neither the groups of states led by Texas nor the individuals challenging the mandate have a legal right to sue.  They didn’t have standing.  My attorney readers will enjoy both the way the decision was reached as well as that the majority included Chief Justice Roberts, Justices Amy Coney Barrett, Brett Kavanaugh, Clarence Thomas as well as the two remaining liberals.  The majority opinion was written by Justice Stephen Breyer.  An opinion that bridges the court’s extremes is guaranteed to surprise or confound the pundits.

There will be more challenges.  Since there are no problems in Texas, the Governor and Attorney General feel compelled to spend their time fighting to destroy our health care system.  And we can only hope that like this time, the Supreme Court will again tell them that they don’t have a leg to stand on. 

Dave 

www.cunixinsurance.com 

Picture – You Say Hello. I Say GOODBYE – Original batik by Batik by Amit