Effective January 01, 2014, the Affordable Care Act will be in full effect for individuals who are required to obtain health insurance. It is estimated that the law will require approximately 30 million individuals to purchase insurance or be fined by the IRS. Congress has offered States the opportunity to choose one of three possible choices. The States can either, run their own exchange, let the Federal Government run the exchange, or partner with the Federal Government. The map below illustrates the geographic breakdown for each state.
Confused Yet? 50 exchanges, 30,000,000 people, and a 2,000 page piece of legislation that few people have any comprehension on. Agents are scurrying to any source of credible information they can find to educate themselves. That is where CompleteMarkets can help. CompleteMarkets is the leading insurance network for insurance related information. The
discussion topics within CompleteMarkets offer agents the ability to ask questions and post comments. You can also
subscribe to groups to exchange ideas. The topic of Obamacare comes up in
the Ask Your Peers discussion group regularly. An agent recently asked the question below,
"I’m a P&C agent and one of my clients recently asked me some questions about the new Obamacare. I found some general information, but maybe some of you can help answer her questions: “How much do you think the cost will be per month with the mandatory health care?” She is 32 and healthy, but she hasn’t carried coverage since 2007. Will this be an issue? What is the penalty fine for not carrying health insurance?
Thank you in advance for your help!"
The post was commented on by numerous agents with offers of advice and websites that helped answer the questions posed in the discussion. Overall the experience for the agent exceeded his expectations and he was able to advise his client accordingly.
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