During the Affordable Care Act Open Enrollment Period, Licensed Insurance Agents Kathy Carvin and Matthew Carvin, with HealthMarkets Insurance Agency, can help you choose health insurance coverage that fits

By Beth Newcomb

Many people understand that coverage under the Affordable Care Act (ACA) is available to those who don’t have access to health insurance through an employer. Typically, these folks include members of the self-employed workforce, people who have no health insurance, and people whose employer doesn’t provide health insurance. There have been some changes to the available ACA options for the coming year, say mother and son duo Kathy Carvin and Matthew Carvin, licensed insurance agents with HealthMarkets Insurance Agency.

“New, affordable plans may be available. Plans and prices change every year. Your situation may have changed, too. You may find plans with coverage and features that better meet your needs—especially if you had or expect income or household changes,” Kathy says. “One change, for example, is if a married couple is on one spouse’s insurance plan through an employer but finds the plan cost is too high. The add-on spouse can explore his or her options in the ACA marketplace to determine if there might be a more affordable fit. The primary person carrying the insurance can stay with the employer-provided plan, but the spouse can look at options under the ACA.”

The Open Enrollment Period for the ACA runs from Wednesday, November 1, to Friday, December 15, which is the deadline to enroll to make sure you have coverage starting January 1, 2024. During that time, people can consider other plans that may be a better fit for their needs or opt to stay with the plan they had last year.

Subsidies May Play a Role
For some people, a subsidy plays a role in which plan they choose and can provide financial assistance.

So, what is a subsidy? A subsidy is essentially a premium tax credit the federal government provides to help lower premiums and out-of-pocket costs for eligible individuals and is based on household income. Individuals may qualify for enhanced subsidies that have been extended with the passing of the Inflation Reduction Act.

Schedule a policy review with Kathy or Matthew and they can help you find out if your current subsidy has changed, or if you qualify for an increased subsidy, or if you didn’t qualify before but may now.

“There is no cost to meet with me for a review of your standing,” Matthew says. “Together, we can explore the options so you can choose a plan that makes the most sense for you and your budget.”

Why Experience Matters
“You can certainly go it alone,” Kathy says. “But as licensed insurance agents with HealthMarkets, we’re qualified to help you understand your options in an easy-to-digest format. We’ll break it down so you can make the best choice for you and your family. And the best part is, our guidance is offered at no cost to you.”

Within the different ACA coverage levels there are numerous plans to choose from. “Simplify the process by putting my experience to work for you,” Matthew suggests.

One of the biggest advantages to choosing coverage under the ACA is that you can pick a plan that does not require underwriting. “Preexisting conditions are allowed and there are preventative coverage benefits that may not be available in non-ACA plans,” he says.

Closing the Gaps
Carrier access under the Affordable Care Act changes every year. ACA plan options from each carrier can change annually. You may have several options to choose from in your area.

Another option is to purchase supplemental coverage, which typically helps with out-of-pocket costs related to a qualified event.

Kathy Carvin and Matthew Carvin, licensed insurance agents with HealthMarkets Insurance Agency, have offices at 10512 Northfield Road, in Northfield, and 4679 Great Northern Blvd, in North Olmsted. Call 216-375-5902.

HealthMarkets Insurance Agency, Inc. is licensed as an insurance agency in all 50 states and the District of Columbia. Not all agents are licensed to sell all products. Service and product availability varies by state. Agents may be compensated based on enrollment. No obligation to enroll. 50368-HM-1123