Here are some key points we must clarify for
What is Obamacare? – It is
totally different from Medicaid.
The Obamacare is not only for Medicaid or
Medicare. It is a reform of health insurance. In other words, if you already
received Medicaid or Medicare benefits before, you may ignore it. The Obamacare
is more focusing on people with compromised income, which have to buy by
themselves for health insurance, while, are not eligible for Medicaid benefits.
Who would get the most from
The vast majority (86%) of Self-buyers of health
insurance will be the beneficiaries of Obamacare. There three type of
1.) Self-employed individuals, include: agent
and brokers, doctors, contractors, etc.
2.) Small business owners, include: restaurant,
grocery store, beauty solons, various service stores, etc.
3.) Individuals and Workers without health
insurance, include: Non-W-2 (1099) employees, part-time workers, non-benefit
employees, unemployed individuals, etc.
People on above list, according to the Obamacare,
if they do not meet Medicaid criteria, must buy health insurance by self, or
called self-buyers. However, lots of these people did not apply for Obamacare in
2015, since most of them believed they might be disqualified. Why? The main
reason was that they confused Obamacare with Medicaid and don't know they still have a chance to apply for tax credits,
which spent 5 minutes may save $5,000 or more. The other reason was that
some employers introduced a discounted health insurance to them, but did not pay
for at least 50% as benefits. In fact, the discounted insurance was not the
employer offered coverage, which did not block they to apply for Obamacare.
What is the best way to apply
There are two ways to apply for 2016 Obamacare:
1.) Apply as individual and family (must input
all your income data).
In Oregon, submit your application through a
federal agency called FFM, which is different from CoverOregon.
In Washington and California, submit your
application to the state web portals, the same processes as last year.
2.) Apply as a small business owner or employees
(income data NOT required).
All applications should submit to the FFM
portal. There is a special discount called SHOP for 2016. If a small business is
hiring at least one full time employee, but less than 25, and the business pay at
least 50% premium for health insurance of each full time employee, the owner can
get tax credits up to 50% of total contribution every month. No income data required.
Please note, this provides a great opportunity for owners and employees who as individuals
are originally disqualified for Obamacare due to their higher income. For example, a 58 old
doctor MD, owner of a clinic, made $195,000 net income in last year. He may be not qualified as individual for Obamacare this year, however,
he can apply for tax credits, as a small business owner, from the SHOP, which he can get tax credits up to
50% of all his contributions for his family and
employees health insurance. If the owner likes to share with the credits,
everybody in the clinic can also legally get 50% off for their health insurance.
So, two ways, one to check income and the other one NOT
to check income. You must consult with
us to find a better way. In order to let us legally access your personal
information (like SSN, birthday, income, etc.), according to the US Privacy Law,
it is better that you may first select me, Henry Hu, as your insurance agent.
The easiest way to become your agent is that you choose one of our insurance
services including: auto, home, life, renters, business, etc. Please visit our
website for details.
Actually, rules in Obamacare are very accommodated for these self-buyers (about 86%) to get financial aid for health insurance. The biggest reason for doing this is government would gain more benefits than loss, if people become self-employed, instead of claim unemployment funds.
so that we can be pre-prepared to provide our best services for you.