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Affordable Care Act

Effective January 1, 2014, all individual medical insurance is guarantee issue. This means that you can no longer be declined for coverage due to pre-existing conditions. Please note that a special enrollment time period now applies. Applications for medical insurance must be submitted and completed during this time-frame. There are special enrollment opportunities that may be available. Click here for more information.

Certain individuals may also be eligible for coverage with reduced premiums, and/or reduced deductibles and out of pocket costs. Eligibility is determined by your adjusted gross income determined when you file your tax return. The eligibility table can be found here. We can provide you with more information about this unique opportunity.

Interested in seeing what the costs are? The following link will take you to our quoting engine. Please note that we will request you to create an account. We do this for two reasons, first to protect your privacy, and second, should you choose to work with Smith & Company, it will save you from having to enter this information at a later time. Click here for a quote.

Cost Of Medical Insurance

The insurance companies are restricted by law in how they determine the rates that are charged for medical insurance. The following factors are used in their calculations:

Age The older you are the more expensive the insurance. As you age each year, you cost increases accordingly.
Geographic Location Zip codes and/or counties are used for this purpose. Generally the closer you are to a major metropolitan area, the more competition there is for services, and the lower the cost.
Smoking Status PPACA regulation allow for premiums to be increased by as much as 50%. Currently, only a few carriers are charging a smoking penalty.
Plan Design The more features and coverage that a plan offers the more costly the plan. Prescription drugs account for as much as 30% of cost increases each year.
Network Selection PPO plans are more costly than HMO plans. Certain carriers have smaller networks within these networks, so be aware of the contracted doctor list.