When Obamacare, or as it's commonly known, the Affordable Care Act, was enacted, every American citizen was required to purchase a policy or pay a stiff penalty. New York residents were no different. They were also required to have a health insurance policy in place to ensure that they would have coverage if they became ill or experienced an injury.
Health Insurance Is a Requirement, But There Is No Penalty If You Don't Have It
Even though health insurance is still considered to be a requirement, the penalty associated with not having coverage has been done away with. When the Affordable Care Act was first put in place, if you didn't have the minimum essential coverage in place at tax time, you were penalized $600. Since the penalty has been effectively eliminated, you will no longer be penalized if you don't have coverage. However, it is still important that you have sufficient coverage in place to protect yourself. The right amount of coverage will allow you to seek medical treatment when you need it without having to worry about not being able to pay for your visit.
What Is Minimum Essential Coverage?
Minimal Essential Coverage is the amount of insurance that is needed to meet the standards put in place by the Affordable Care Act. Health plans purchased through the New York State of Health, individual plans bought from outside providers, job-based health insurance policies, COBRA coverage, Children's Health Insurance Program, Medicare, and Medicaid are just a few of the insurance policies that qualify as minimum essential coverage. Student health insurance plans may also qualify. However, separate dental and vision policies don't qualify. Workers' compensation insurance is another type of policy that doesn't qualify. The minimum essential coverage requirement is the amount that professionals think is necessary to maintain financial security during an illness or when recovering from an injury.
Where Can I Get Health Insurance at a Reasonable Price?
The New York State of Health offers many different types of health insurance for you to choose from. The policies offered by the department meet the qualifications put in place by the Affordable Care Act. Most policies are reasonably priced and will provide you with all of the coverage you need to remain in compliance with the mandate that states you must have the minimum amount of essential coverage. The key is understanding what level of coverage you need and then finding the right policy, either through the New York State of Health or through a private insurance provider.
Discuss Your Options with the Experts
When it comes to getting the health insurance coverage you need, the best place to turn for advice is to the
insurance experts who have the knowledge you can rely on to make sure you are adequately covered. Once you have filled out the health questionnaire and completed a health exam, they will be able to find a policy that will work for both you and your family. Then, by choosing the right deductible amount and other personal extras, you can come up with a policy that will meet your needs at an affordable price.
When you need help finding a
health insurance policy in New York, your first call should be to the professionals.
Contact our team of experts at Club Agency Insurance Brokerage today. We will answer all your questions and put together a policy that will cover your family from health-related uncertainties.
