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Health & Fitness

Healthplanfinder.com - the new Health Insurance Exchange for Washington

Coming October 1, 2013 for enrollment with an effective date of January 1, 2014 is our state's new health insurance Exchange. The idea behind the Exchange is to offer a place where lower income individuals and families can buy coverage that will be subsidized by the Federal Government. The credit is determined by your Modified Adjusted Gross Income or MAGI,  which can include alimony, rental income and other sources. However, there is no requirement that you buy your coverage through the Exchange. Since the four types of plans (Platinum, Gold, Silver and Bronze )inside the Exchange are all  richer in benefits than most of the current individual plans out there, it could actually be less expensive to buy outside of the Exchange, even though there aren't subsidies.

 Anyone can enroll (limited exceptions for prisoners, illegal immigrants, etc) and there will be no more exceptions or restrictions for pre-existing conditions.

There will be a limited open enrollment period each year, usually the last three months of the year. This first enrollment will be open for six months however.

You will be able to work with a broker or agent who can help you find the right plan, calculate your credit and shop to see which is better - inside or outside the exchange. There will be no additional cost for this service.

The team putting together the Exchange in Washington is a mix of insurance executives, business owners, insurance brokers and legislators. They have been working very hard on setting this up, often with little or late direction from the Federal Government. They joked that its "like flying an airplane and building it at the same time."  They expect the Exchange to be up and running for the October 1 open enrollment. 

If you would like more information on Obamacare and how it will affect  you,  please contact Ken Williams at 425-821-7914 or kenwilliams@sunstreetsecurities.com.  You can also like Health Care Reform Seattle https://www.facebook.com/HealthCareReformSeattle?ref=ts&fref=ts

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