Healthcare ReformBilly Jordan, Jr.| The Jordan Insurance Agency

What does it mean for you?

Understanding the impact of Healthcare Reform

Objectives : Healthcare Reform Healthcare Law pass in March 2010 Preventive Services law changed in September 2010 Change in benefits for Individual plans in 2014 Non-grandfather vs. grandfather plans Pre-existing condition law starting Jan 2014 Open enrollment period Rates Increase 40-100% for Individual Plans Subsidy and how to qualify ( 1.2 million will qualify) Penalty for not buying qualified health insurance (QHP) Insurance Carriers participating in North Carolina exchange Licensed Insurance Agents Navigators (20 hours training ) No licensed or Error & Omission Insurance

required

Subsidies for Individuals and Family100% 133% 150% 200% 300% 400%

1. 11,490 15,282 17,235 22,980 34,470 45,960

2. 15,510 20,628 23,265 31,020 46,530 62,040

3. 19,530 25,975 29,295 39,060 58,590 78,120

4. 23,550 31,322 35,325 47,100 70,650 94,200

5. 27,570 36,668 41,355 55,140 82,710 110,280

6. 31,590 42,015 47,385 63,180 94,770 126,360

7. 35,610 47,361 53,415 71,220 106,830 142,440

8. 39,630 52,708 59,445 79,260 118,890 158,520

Pre-existing condition rule in 2014

Kids with pre-existing conditions cannot be turned down for insurance (2010)

Adults with Pre-existing conditions can not be turned down for major medical health insurance ( 2014)

Guaranteed Access to health insurance in all 50 states (2014)

Jan 1, 2014 All pre-existing conditions, medicine, and treatment covered

Mandated Insurance changes : Essential Benefits:

• Ambulatory patient services• Emergency services• Hospitalization• Maternity and newborn care • Mental health and substance use disorder services,

including behavioral health treatment• Prescription drugs• Rehabilitative and habilitative services and devices• Laboratory services• Preventive and wellness services and chronic disease

management • Pediatric services, including oral and vision care

Open Enrollment: What you need to know to get started?

• October 1- March 31st (6mos ) 1 st year only

• Tax Return filed with IRS for year (2012)

• Federal application for Subsidy

• Health application for Insurance

• Licensed Insurance Agent Navigator ( New position created by Federal Government )

Licensed Agent vs. Navigator : Who can I trust?

• 40 hours of classroom required with state exam of 70%

• 24 C.E. credits required every 2 years

• Error & Omission Insurance

• Background Check

• Receive ongoing training from various carriers and new products on a monthly basis

• No-fee for using licensed insurance agent

• Customer Advocate

Licensed Agent vs. Navigator :What is a Navigator and what is there roles?• 20 hours of training and must pass exam

• (Reduced from 30hrs because not enough time to train before Oct 1)

• Not Licensed

• E& O Insurance not required

• Fee charged by Exchanged for plans purchased that helps pay for Navigator

• Little to no experience with health insurance or insurance in general

• Limit product knowledge (Cannot discuss any plans or carriers outside of the exchange)

Ways to handle the huge rate increase coming for Individual plans?

Have a strategy for getting the right insurance plan (On and Off exchange)

Know what your needs are and how to determine the right plan

Find a licensed Independent Agent or Agency to work with (Don’t go alone)

Shop Insurance Carriers

Customer Reviews of agents past customers (Look for someone with the heart of a teacher)

Recap of Changes in Healthcare in 2014

Open Enrollment- Don’t Wait!

$1.2 millions subsidy individual and families in North Carolina

All pre-existing conditions will be covered

Choosing a Licensed Agent or Navigator

“QUESTIONS”

Contact Information

Billy Jordan, Jr.

704-926-7565 Office

www.thejordaninsuranceagency.com

13860 Ballantyne Corporate Place Suite 120 A

Charlotte, NC 28277

Joyce Palmer

JP Financial Services, LLC

704- 543-6269

301 McCullough Drive

Charlotte, NC 28262

Notes