BOCA RATON, Fla., March 5, 2015 /PRNewswire-USNewswire/ -- Most consumers are not aware that next month they will be required to pay the full amount of their health insurance premium if they have not sent the required documents to HealthCare.Gov
For example:
- An average family of four in Pawnee, OK making $30000 a year that qualified for a zero cost plan because of their subsidy of $947.90 a month in 2015, will now owe the full amount of $947.90 next month.
- A single 63 year old female in Boca Raton, FL making $13,000 a year that qualified for a zero cost plan because of their subsidy of $485 a month in 2015 will now owe the full amount of $485 next month.
"Many consumers have already lost their subsidies forcing them to pay the full amount next month. It is especially concerning for many of our current clients that are on automatic draft. We have seen more clients choose this option this year because their policy was terminated for non payment last year after never receiving an invoice or worse receiving the invoice days or weeks later after the due date." C.E.O of Access Medical Jim Jalil said.
"We know most consumers live on a check to check basis, especially if they are receiving a subsidy. Being unaware their insurance company is about to charge an extra few hundred or even a couple thousand dollars can impact their financial status."
The reason:
Healthcare.gov has sent out letters to everyone that enrolled in 2014 to resubmit their information such as proof of citizenship status and or proof of income. Failure to comply will cause loss of their 2015 subsidy.
What to do:
Update your 2015 Marketplace application to make sure it includes your best estimate of your income for 2015. Also update any household information you have not already reported to the Marketplace. By completing these simple steps you can confirm you will have your 2015 subsidy through out the year.
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SOURCE HealthCareForYouNow.com
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