How to buy cheap health insurance in California using CoveredCA.com. Find out if you qualify for premium assistance and set yourself up with an affordable policy.
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My Name is Alex Pfeifer. I’m the owner of Pfeifer Insurance Brokers located in Burlingame California. Today I’m going to talk to you about Covered California, AKA ObamaCare, AKA the Affordable Care Act. By the end of this video you will know who this Act benefits, how to apply for a policy under the insurance exchange, and best of all I’m going to show you an example of a 30 year old who lives in San Francisco, earns $25,000 per year and qualifies for a health policy that is under $20 per month. The Affordable Care Act made three major changes to the Health Care Industry. One, Health policies have been standardized; making it much easier to make an apples to apples comparison across the different insurance companies. Two: Health is no longer a factor in determining your premium or eligibility. It no longer makes a difference if you have cancer, a tumor, are obese or you smoke. It looks like you caught a break. The only factors for determining your premium are your age and your zip code. Three: There is premium assistance for individuals making less than $48,000 per year. The premium assistance can really add up and drive down the premium you actually have to pay. This is covered.com the official homepage for Covered California. I want to show you a couple of helpful links. Let’s go to the shop and compare tool and then click on Health Insurance Benefits. The Affordable Care Act set up four standard policies. The Bronze, Silver, Gold and Platinum Plans. All of the companies that participate in the Exchange have to offer these four policies. The Bronze policy will have the lowest monthly premium, but it will also have the highest deductible and the highest copay. Now let’s take a look at who’s eligible for premium assistance. The income guidelines page shows that if you are an individual earning less than $48,960 per year you may be eligible for premium assistance. The less you earn the more premium assistance you may be eligible for. Now I would like to show you the fun part where we run a quote and I can show you how inexpensive a policy can be. Let’s take a look at an individual who is 30 years old, lives in San Francisco and earns $25,000 per year. And that’s enough to get us started with a quote. Click on See My Options. We get a pop up window that shows the metallic tiers. Here we can see the policies that are available to his person. And Wow! Look at that. CCHP is offering a policy for just $18 per month for the bronze policy. If you want a bronze policy but not the CCHP HMO policy you can see different options to the right. Scroll down and you can see the Silver plans. If you go to the next page you can see the Gold and Platinum plans. Click on a plan you are interested in. Note that there is $190 in premium assistance available to this person. You can see under the Platinum plan there is no deductible and the copays are very low. If you are interest in applying for a plan go back to the home page and click apply. If you need help, click of the request enrollment assistance button or contact a Covered California agent like myself. Covered California is good place to shop for your insurance needs. If you are eligible for premium assistance you will want to buy your policy through Covered California. If you are not eligible for Premium Assistance you can purchase your policy directly from the Insurance Company’s website. I hope you enjoyed the video today. If you did give it a thumbs up. If you really liked it, share it with your friends and family. See you next time.