How the Missouri Health exchange might work in 2014

Many people are wondering how we will buy health insurance from the new “exchange” in 2014.   Do I have to figure this out on my own?  The answer is no!  Our agency is gearing up to be a navigator, the official term for someone who helps people make the best decision for their situations. As always we don’t charge any fees and there are no costs using our services ever!

Here is a likely way that we will purchase health insurance after 2014:

You log onto the federal government’s health insurance website benchmarked for Missouri.  It might be something like http://www.moinsurance.org/. You type in your name and Social Security number and your specific application is generated.  The application takes data from your 2012 tax return to determine what subsidy level (if any) you qualify for.  You can then view, apply for, and purchase health insurance specific to your family right from the federal exchange.  All of the benefits, prices, and insurance companies will show you specific information based off your unique situation.

For example If the actual cost of a plan is $300/month and you qualify (based off your 2012 income) for a $150 savings, then you would only owe $150/month.  The other $150 is paid directly to the insurance company by the government.  Each year as you file your tax return, you premium is adjusted accordingly.

If you want to shop around, you will go back into your unique application and look at alternatives.  The options you can choose from will be offered by name brand companies like Anthem Blue Cross, Aetna, and United Health Care.