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Health & Fitness

The Affordable Care Act is Here

Understanding the Affordable Care Act (ACA)

Hi, my name is Mike Krucek and I’ve been helping individuals, families and small businesses purchase health insurance since 1991. On January 1, 2014 the Affordable Care Act (ACA) will have most of the major elements kick in. This will change the entire health care system in this country unlike anything we have seen before. I receive many questions from my clients about what this law means to them and I’m sure others are wondering the same thing.

With that in mind I have started this blog. I’m sure many of you have the same questions as my clients as to what happens now. What does it mean to you, your family, or your business? Ask them here and I’ll answer them for you. As a licensed agent in the state of Illinois I have also been certified to sell policies on the health exchange (marketplace). For many reasons I highly recommend using a qualified health insurance agent or broker to help you through the enrollment process.

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Please note what this blog is NOT for. It is not a place to give opinions, good or bad, about the law. This is a place to help people figure out what they need to do, look at options they may have, and find out how they make sure they have made the best decision for them, their family and their business. Thank you in advance for your cooperation.

In Illinois there are two websites you may need. First, Get Covered Illinois, found here -

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 http://getcoveredillinois.gov/

If you feel you may qualify for Medicaid you should start here. Answer a few questions and the site will tell you whether you qualify or not.

The second site is Healthcare.gov. This is the site Illinois is using for its marketplace or exchange.

 https://www.healthcare.gov/

The main reason (perhaps the only reason) you would go to the marketplace to shop for your health insurance is to get the premium subsidy (tax credit) to help pay your premium. If you will not qualify for a subsidy you can get a policy that meets the ACA requirements in the private market, or off-exchange.

An important point to note about the subsidy. You can claim it in one of two ways. You can take it up front, letting it reduce your monthly premium for the year. Or you can wait until you file your taxes for 2014 and get it as a refund since it is in effect a tax credit.* However, you can’t claim the credit if you do not go through the exchange.

In the next post I’ll show you how to get pricing for you without going on the federal website, along with an estimate of your premium subsidy.

 *Please note that I am not an attorney or accountant. If you have specific questions regarding your personal tax situation you should consult your tax advisor.

So go ahead and ask your questions and I’ll do my best to answer them. If you would rather not post here you can reach me in the following ways.

 Phone – 630-985-9628

 Email – mikekrucek@clear.net

I look forward to hearing from you. Mike
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