New Health Care Exchange

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Updated: 9/19/2013 8:16 am
Currently there are close to 223,000 people in Idaho that do not have health care insurance, according to Blue Cross of Idaho. 

Brandy Perkins says she is a full time employee in a small company that does not offer health care insurance to their employees. 

For some Idahoan's, there is still some confusion on how the health care reform will work. 

"I have no clue about the health care reform, so I am kind of at a loss and not knowing what's going to happen once that goes into place." says Perkins.

The Affordable Care Act (ACA) was passed by congress and signed into law in 2010.

 Lance Kolbet, President of University Financial, says there are a few things you should know about the new law.

"Starting October 1st, people can apply through the exchange, and so there are a couple of important things to note, one is that the exchange you apply for in October, that goes into effect January 1st, will have no pre-existing conditions, and in addition there will be federal subsidies." 

Kolbet says, "The good news is, 60 to 70 percent of people in Southeast Idaho will qualify for federal subsidies." 

Kolbet also adds that it will pull a lot of people in that will qualify, and so depending on the size of your household, an individual could apply through the exchange and qualify for federal subsidies. 

The federal subsidies is paid directly to the insurance carrier and the carrier will bill the individual for the remaining amount.

"A person could apply for health insurance and it might be $50 a month, or it could be $20 a month, depending on the plan that they select", says Kolbet. 

There are a number of insurance companies on the exchange and currently there are 79 medical plans to select from, according to Kolbet.
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