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Affordable Care Act Law Change

Well, just when you thought you had it all figured out, the law changes again.

Yet, this is a good change for those of you who may have lost your insurance policy and were not able to have them be reinstated by the insurance company. This doesn’t apply to any Blue Cross and Blue Shield of South Carolina customers, nor BlueChoice customers. Those two companies are honoring all canceled insurance plans, so be sure to call your insurance company if you are still unsure of your cancelled policy.

Thousands of insurance policies were cancelled this year because they did not meet the minimum coverage requirements of the new law. Those policies were, of course, substituted with new policies, that offered more benefits, but sometimes at a higher cost. If your policy was cancelled, and is still cancelled, the law has changed for you. You can now purchase a catastrophic insurance plan and you will qualify for a hardship exemption from the penalty if decide to go without health insurance next year.

Those individuals, who find that Marketplace insurance policies are more expensive than their recently cancelled policy, can apply for catastrophic policy. A catastrophic policy is a low-cost, minimum policy that will meet only basic health care needs. The goal of a catastrophic plan is to minimize the financial impact of a major illness or accident.

To learn more about and apply for a catastrophic policy or qualify for a hardship exemption from the mandate, as well as see the prices and policies available in the Marketplace, you should visit www.healthcare.gov or stop by one of these Richland Library branches to see a Navigator.

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