Overdrive Magazine | Trucking Business News & Owner Operator Info
Issue link: http://read.dmtmag.com/i/769491
January 2017 | Overdrive | 23 Obamacare enrollment deadline at hand W ith President-Elect Donald Trump's inaugu- ration set for Jan. 21 and the end of the fourth annual Affordable Care Act insurance open-enrollment period 10 days later, wishful opponents of the act might be hoping for some immediate repeal. Such rapid change doesn't appear like- ly. That means owner-operators choos- ing not to buy health coverage will face fines that easily could be $1,500 or more. Those participating in the federal or state exchanges could be surprised by the size of premium increases. At press time, some Republicans in Congress were suggesting a wholesale repeal of the law. It would be followed, presumably, by a replacement that bet- ter enabled market forces to bring down insureds' premium costs, more transpar- ency in health-care costs themselves and more changes. "If you listen to Trump, he's of the mindset to break down the current state 'walls' as it relates to each state's unique positions in health insurance," says Bill Zenk, with TrueNorth's TrueChoices private insurance marketplace for owner- operators. That might promote additional competition across state lines, he says. A straight repeal without a replace- ment option would mean the individual tax penalty for not carrying insurance would fall away. For the 2016 and 2017 tax years, it's calculated at $695 per indi- vidual in the household or 2.5 percent of income, whichever is higher, and with caps on payments. A repeal also could mean many people now depending on ACA might lose access to insurance. Zenk and Marc Ballard, a Florida- based insurance broker with the National Association of Independent Truckers' insurance exchange, say it's probably safe to assume the law will stand until a replacement/modification package is ready. An out-and-out repeal without a workable alternative might well meet with a filibuster by Senate Democrats, and Trump has hinted at a modification. He's expressed favor for retaining the prohibition on denying insurance due to a pre-existing condition and extending parents' ability to cover their children beyond age 26. "A lot of people out there think that because Trump has promised a repeal, there's a quick fix in the works, and they can just sit back and wait," Ballard says. "Don't sit back, and don't drop your insur- ance" in expectation of better options. Zenk believes big change is unlikely before 2018. That could affect the penal- ty for tax year 2017, he adds, but there's a "fairly low likelihood" of that. Eventually, however, the individual mandate to carry insurance and the penalties for failing to do so, he guesses, likely will be on the chopping block. If you're one of the 15 percent or so owner-operators who've used the ACA exchanges, don't auto-renew your policy this year without shopping available plans for the best deal prior to the Jan. 31 deadline. As some large insurers have exited the state and national exchanges, unsubsidized premiums for insurance policies purchased there have risen in many cases. What's more, "there are alternatives outside the exchanges this go-around that weren't prevalent a year or two ago," Ballard says. One is NAIT's partnership with Aliera to offer members access to AlieraCare, a new ACA/Obamacare alternative that combines preventive care with what's known as a "health care sharing ministry" for hospitalization. It arises from old religious entity-based risk- sharing groups. It's not insurance, exactly, but is intended to provide members with quality medical services and maintain compliance with ACA's individual man- date requirement. Ballard says membership in the group averages about $199 monthly for an individual and $599 for a family. Benefits include its "self-insured pool for hospital- ization and surgery, the major medical- type component, with a deductible simi- lar to what you see in bronze plans on the exchanges. On the front end, there's first-dollar coverage for doctors' visits and other components that provide the mini- mum to make it ACA-compliant." It's not, however, for those with pre- existing conditions, given some exclu- sions. "Anyone with a significant health history will want to stay in an ACA med- ical plan" purchased on the exchanges, Ballard says. BY TODD DILLS Private owner-operator-focused health insurance marketplaces OOIDA MEMBERS HEALTH CARE EXCHANGE: OOIDA.com, click "Benefits and Services" TRUCKERS INSURANCE EXCHANGE: TIEMarketplace.com, (800) 388-8284 TRUE CHOICES (operated by True North Insurance): TrueChoicesMarketplace.com, (800) 877-9637 Federal exchange states HealthCare.gov, (800) 318-2596 To find the state exchanges (blue states), search online for the state name and "health insurance exchange."