There are carriers terminating all of the new individual only health insurance plans written under the ACA timeframe from 2013 to current. This affects a lot of policies! Both, Marketplace and privately purchased. THIS IS HORRIBLE. The only individual plans that are NOT terming is the Grandfathered (written prior to 2010) and Grandmothered (2010-2013) plans sold prior to ACA kicking in full blast.
As of today we don't have any options however, if you know Spaich Benefits, we don't like the answer no, nothing, sorry… we are exploring any and all possibilities for our clients. Basically people will be with nothing or a minimum a horrible option. 1st thing people say is, “aren’t we required by the government to have health insurance or we will pay a penalty?” YES. But how can the government penalize you for something they made unavailable and unaffordable? WE SHALL SEE. The other horrible piece is we as brokers are usually paid a commision on the policies we sell and service for these carriers and over the years have seen our commissions go down upwards of 60%.. And 2016 and beyond are being paid 0, yes ZERO commissions. Over the history of health insurance us brokers have worked to learn and understand, sell and service these policies and bring the insurance companies their business. As of late, i guess they have conceding to the government and have given up on us in the individual health market. SAD DAY.
We still will do what we can and we are looking for options for our clients. We still know more than any insurance company call center, government official, or Marketplace employee when it comes to insurance so don't write us off yet! We are going down with the ship but we will fight to the end.
Contact us if you want to get updates if and when they become available. Look at going to group coverage if you have it available, it is still the best option! If you have a small business, call to get a group quote asap! January will be chaotic.
Wouldn't it be nice to see the government get the heck out of the industry and let us buy an old fashioned major medical plan and let us pay cash for our day to day services? It can be that way again, but it seems it is not about us.