*Estimated premiums are based on a 35-year old male living in Nashville, TN, using 2018 plan data. The estimated prices and plans listed may not be available to you where you live in Tennessee.
HealthTN offers no-cost health plan review and insurance agent assistance to help you find the best health coverage for you and your needs in the state of Tennessee. Our agents are licensed to sell plans from all the major carriers in Tennessee, so there is no bias. We don’t work for the health plan carriers or for the government; we work for you.
We’ll start by sending an agent out to meet with you. The agent will complete a needs analysis, review your plan options, and help you enroll in a great plan. To get started, complete this form or give us a call directly at 615-541-4257.
Tennessee Open Enrollment lasts from November 1 through December 15 of every year. It’s the six week period when all marketplace health insurance beneficiaries are able to change plans or purchase a new plan. This period is important because it gives you a chance to review your plan and make decisions that could save you money. If your current plan is getting more expensive or if you are losing benefits, you can use this time to enroll in a better plan. If you don’t make your changes during open enrollment, you’ll be stuck waiting until next fall - so don’t procrastinate!
The “individual mandate” required all eligible Americans to have an insurance plan either directly through the Obamacare marketplace or through an employer. Those who did not comply would have to pay a tax penalty fee. Starting on January 1, 2019, there will be no more tax penalty for no health insurance. That means that you do not have to select a marketplace plan - you can instead select a short-term plan if you decide that short-term options are better for you, or you can elect to not have health insurance at all (though we would not recommend that option). Our agents can help you decide whether a marketplace plan or an alternative option may be best for you.
Short term health insurance plans are popular alternatives to Obamacare marketplace coverage. Since there will no longer be a tax penalty for no health insurance in 2019, you would not face a tax penalty for choosing to enroll in a short-term health insurance plan instead of a marketplace plan.
Short term plans are typically cheaper than Obamacare marketplace plans. However, they are often cheaper because they are not required to cover the “minimum essential coverage” benefits that Obamacare requires. That means that your short-term plan may not cover as much as an Obamacare plan does. It also means that short term plans are not required to cover everyone, and you can be denied based on your preexisting conditions.
Short term insurance plans are really designed to fill gaps in coverage if you are between jobs, waiting for Medicare eligibility, or waiting for open enrollment to start so you can enroll in Obamacare. If you decide to drop your marketplace coverage this AEP, you can enroll in a short-term plan instead so that you don’t completely lose your coverage.
Having trouble paying your Obamacare marketplace plan premiums? You’re not alone - that’s why Obamacare provides subsidies (advanced premium tax credits)! Families earning less than 400% of the federal poverty level are typically eligible for Obamacare subsidies.
When determining whether or not you qualify, ACA looks at your yearly household income (including the income of all members of your household) as well as plan costs in your area. Generally, if your premium is going to cost you more than 8.05% of your yearly income, the ACA agrees that you need financial assistance and provides subsidies.
If you qualify, you can get either a premium tax credit, which lowers your monthly premium payment, or a cost-sharing reduction subsidy, which lowers your deductible, copayments, and coinsurance payments. You can apply for subsidies through a HealthTN licensed agent!
When trying to decide which Obamacare metal level of coverage you need, keep in mind that the “actuarial value” that plans refer to basically tells you how much coverage you’re going to have. For example, if a plan has a 60% actuarial value, your plan will pay for an average of 60% of the value of your health care services during your plan year. The metal levels are as follows:
Know that even though the premium plan options will provide more coverage, they are most likely going to be more expensive than bronze-level plans. Even though premium plans may sound like the better options, you’ll have to take a look at your budget and decide which plan actually makes the most sense for you. Our agents are trained to help you make those decisions! Speak to a HealthTN agent today.
HealthTN is a Tennessee health care organization with corporate offices in The Nations neighborhood of Nashville. Our organization strives to provide the best advice and Tennessee health insurance services we can to help consumers navigate the confusing world of health insurance. We can help you navigate the Tennessee health insurance exchange, or if you qualify, experts at our sister brand Medicare Plan Finder (also headquartered in Nashville) can help you navigate your Tennessee Medicare options.