Delaware's health insurance exchanges will open up for business on Tuesday. Insurance advisors who are working with local Chambers of Commerce and the Delaware State Chamber of Commerce are providing information about the exchanges.
Jen Wilson and Greg Simeone of Chesapeake Insurance Advisors and its Delaware Employee Benefits Exchange stopped by WGMD's "Mike Bradley Show" last Wednesday at Atlantic Cellular to talk about the exchanges on behalf of the Rehoboth-Dewey Chamber of Commerce. While the employer mandate requiring businesses with more than 50 full-time employees to provide health insurance to their employees has been pushed back to the start of 2015, the individual mandate will still go into effect on New Year's Day, as scheduled. Wilson tells WGMD that people who have health insurance through their employers can keep their coverage. The exchange is for people who don't have health insurance through their employer.
Subsidies will be available for people who make less than $46,000 a year, or 400 percent of the federal poverty level. Simeone explains that the out-of-pocket cost equals the base rates for the Bronze (the lowest level of coverage), Silver, Gold, Platinum and Catastrophic plans for each age group, minus the subsidies. Information on the rates is available on the exchange's website. For anyone who chooses not to get health insurance, they'll be fined under the law. Simeone says the fines will start at $95 next year, and increase up to $695 in 2016. Wilson adds that those fines will be taken out federal income tax refunds, starting in 2015.
Health insurance plans are available through Highmark Blue Cross Blue Shield, Coventry Health Care of Delaware, and Coventry Health and Life Insurance Company. Dental plans are available from Delta Dental, Dentegra Insurance Company, and Dominion Dental Services. For more information, visit the exchange's website, or call the Delaware Employee Benefits Exchange at (302) 366-8500.
Return to: WGMD Local News Blog