📣 THE 2022 #ACA OPEN ENROLLMENT PERIOD STARTS ON MONDAY.
Once again, the #ACA can be best described as a #3LeggedStool:
1. Insurer Responsibilities
2. Government Responsibilities
3. Enrollee Responsibilities
Let's review, shall we?
Once again, the #ACA can be best described as a #3LeggedStool:
1. Insurer Responsibilities
2. Government Responsibilities
3. Enrollee Responsibilities
Let's review, shall we?
1st Leg: INSURER RESPONSIBILITIES:
--Guaranteed Issue
--Community Rating
--Essential Health Benefits
--Minimum Actuarial Value
--No Annual/Lifetime Limits
--Maximum Out of Pocket Costs
--Free Preventative Services
--Can Stay on Parents Plan until Age 26
--Guaranteed Issue
--Community Rating
--Essential Health Benefits
--Minimum Actuarial Value
--No Annual/Lifetime Limits
--Maximum Out of Pocket Costs
--Free Preventative Services
--Can Stay on Parents Plan until Age 26
2nd Leg: ENROLLEE RESPONSIBILITIES:
--Limited-Time Open Enrollment Period
--Shared Responsibility Penalty*
*(no longer applies in 46 states...replaced by the World's Most Expensive Shim®)
--Limited-Time Open Enrollment Period
--Shared Responsibility Penalty*
*(no longer applies in 46 states...replaced by the World's Most Expensive Shim®)
3rd Leg: GOVERNMENT RESPONSIBILITIES:
--Advance Premium Tax Credits
--Cost Sharing Reductions*
*(Replaced by necessity w/#SilverLoading in 2018)
--Health Insurance Exchanges
--Price Gouging Protection (80/20 MLR rule)
--Advance Premium Tax Credits
--Cost Sharing Reductions*
*(Replaced by necessity w/#SilverLoading in 2018)
--Health Insurance Exchanges
--Price Gouging Protection (80/20 MLR rule)
There's actually a LOT more to the #ACA, of course, but for purposes of the Open Enrollment Period, these are the core points to keep in mind.
Stay tuned for my annual Open Enrollment Guide coming soon...
Stay tuned for my annual Open Enrollment Guide coming soon...
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