The only thing that could make the Sunshine State a little less sunny? Complicated information about health insurance for Florida residents. That’s why FlordianQuote.com is here to shed light on the daunting topic of coverage. No matter if you have employer-sponsored coverage, private insurance or no policy at all, we’ve outlined your options for coverage and how you can better understand your plan.
Florida Health Insurance Options
There are many options for insurance for Florida residents. Perhaps the most common is employer-sponsored coverage. About 78 percent of Floridians over the age of 18 have health insurance, and many of them receive their coverage from employers. Coverage can range from dental and hospitalization to different levels of primary care coverage. Employers typically pay about 85 percent of insurance premiums for their employees, and more than half of their dependents’ premiums. The implementation of the Affordable Care Act, also known as Obamacare, will cause a few changes. Although you won’t be required to participate in federal or state exchanges if you have coverage from your employer, the government is mandating that employers offer all full-time employees coverage in 2015, or they will face a fine.
Private plans
Insurance for Florida residents might be in the form of private insurance. Private plans can vary, just like employer-sponsored coverage, but the average out-of-pocket expenses tend to be higher. The Florida Office of Insurance Regulation helps monitor the validity and fairness of insurance companies. Private coverage is affected by Obamacare differently than employer-sponsored plans. Some major insurance companies have decided to remove themselves from state exchanges and even the entire state, which happened recently in California. This means that if your private insurer follows suit, you could be left without insurance. If this happens, you might be eligible for premium tax credits to participate in the federal or state marketplaces.
More than 4 million people in Florida do not have any health insurance coverage. If you do not have insurance for Florida, then you will be greatly affected by the impending ACA changes. In 2014, it is mandatory for everyone to obtain health insurance coverage. Failure to purchase a plan will mean financial penalties that will increase the longer one goes without purchasing insurance. To make this mandate possible, the government is offering millions of dollars in premium tax credits for millions of eligible individuals.
Florida KidCare
Florida KidCare is insurance for Florida children ages 5 to 18. It has four partners that offer quality and affordable insurance to children who are not eligible for other forms of insurance. Families can pay nothing or the full cost, but many pay around $20 per month. Plans vary, but some benefits include well-child visits, shots, hospital stays, dental coverage, vision services, prescriptions and mental health services. Insurance coverage is renewed annually.
For more information about insurance for Florida and how your plan could be affected by Obamacare, contact an agent today!
We are health insurance consultants / agents with many years of experience in the health insurance field and access to multiple health insurance company’s plans and pricing. We will work with each you to find the right group or individual health insurance plan to fit your needs and budget. Serving clients in and around Greater Jacksonville, Orlando, Tampa, Miami, Florida and more. Contact us at 866-217-2873.
Rodger S. Kamuf is registered with and offer securities through Kovack Securities, Inc. Member FINRA/SIPC. 6451 North Federal Hwy, Suite 1201, Ft. Lauderdale, FL 33308 (954)782-4771. Advisory Services offered through Kovack Advisors, Inc. a SEC registered investment advisory firm. RK Asset Management LLC is not affiliated with Kovack Securities, Inc. or Kovack Advisors, Inc. Registered Representative may only conduct business with residents of the states and/or jurisdiction for which they are properly registered. Linked sites are strictly provided as a courtesy. Kovack Securities, Inc. does not guarantee, approve nor endorse the information or products available at the sites, nor do links indicate any association with or endorsement of the linked sites by Kovack Securities, Inc. nor Kovack Advisors, Inc.