With the return of the fine for those who don’t have health insurance, this Open Enrollment Period has been even busier than before! KCAL Insurance would like to remind everyone that aside from those who need to enroll in a new health plan, for those who already have a health plan, it’s important to take another look at your current policy! If you auto-renew without taking another look at your existing policy, you may end up spending thousands more than necessary!
The premium subsidy threshold has been reduced in which many middle income families who previously did not qualify for subsidies in the past may be eligible for subsidies in 2020. For example, a married couple with an annual household income of $100,000 and a family of four with a household income of $150,000 would be eligible for federal subsidies. Some plans have premiums as low as $1 a month.
Kenny Chang, President of KCAL Insurance Agency, would like to remind everyone to consult with an agent before making any changes to your health plan. With the changes that have been made to premiums, subsidies, and benefits, you could save a lot of money on your insurance and on medical expenses! The Open Enrollment Period (10/15/2019 – 1/31/2020) is your one chance throughout the year to enroll and make changes to your plan. Those who are insured should have received an auto-renewal notice that was sent by Covered California or your insurance company. Don’t ignore it! Contact KCAL Insurance as soon as possible for free consultations!
Furthermore, if you auto-renew, there’s a chance that you might fall into the Medi-Cal category when you qualify for a better plan. Due to the increase in the federal poverty level, someone who was originally Medi-Cal status could have their status changed. For example, a couple with an income of $23,000 who had a Silver 94 plan in 2019 would fall into Medi-Cal in 2020. As a result, it’s important to talk to an agent before you auto-renew your plan. Aside from income, changes in immigration status, green card status, household size, home address, and medical needs are all factors that may affect your premiums. Make sure to let your health insurance agent know so that they could find the most suitable plan for you!
KCAL Insurance Agency is a certified Covered California agency. We have been serving the community for over 30 years and have become the most well-known insurance agency in the Chinese community in Southern California. Feel free to contact us at 626-333-1111 to get all your questions answered! We are also open 7 days a week with branches in Hacienda Heights, San Gabriel, Diamond Bar, Cerritos, and Irvine.
To meet your needs, KCAL also has online customer service representatives ready to chat with you and assist you with your insurance needs at any time. Chat with our reps on our official KCAL website (www.kcal.net) or on our official WeChat account (WeChat ID: KCAL3331111). They are also available at night and during non-business hours.