Health Insurance Plans for 2020 - Compare and Learn about new law changes
Table of Contents
- [Music] [Music] hi everyone this video will cover health...
- This is a genuine question I'm a licensed insurance agent in California...
- Negotiated in network presidentially reach the out-of-pocket maximum now...
- That in case any of the terminology is unclear please feel free to watch my...
- Copay the platinum plan has no deductible the co-pays and coinsurance...
- Rule requires Californians to have qualifying health insurance coverage...
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hi everyone this video will cover health
plans available for a year 2020 with a
side-by-side comparison of various
health plans if you're shopping for
medical insurance for year 2020 this
presentation will possibly help you
decide what plan would work best for you
and your family now I want to be clear
from the start that this is an
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educational presentation and not a
sponsored video in other words no one
paid me to create it and I'm not going
to market or sell any particular plans
here that being said I will highly
appreciate if you like and share this
video and subscribe to this channel
comments are also always welcome now the
information presented here applies for
health plans available in California for
both private and exchange plans make
sure to watch this video until the end
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as I will provide important information
regarding the changes that will happen
in California now remember if you are
getting your health insurance through
covered California you can get
additional tax credit credits or
subsidies as well as enhanced plans for
the year 2020 by the way if you are
confused about the Affordable Care Act
law changes or have no idea what your
options are feel free to reach out to me
directly or comment under this video if
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this is a genuine question I'm a
licensed insurance agent in California
and have contracts with all major
carriers in the state so I have access
to the information rates and so on and
we'll be glad to help so let's get
started now in terms of the plan designs
not much has changed for this year we
still have four main categories of
health insurance plans bronze silver
gold and platinum this categories show
how you and your plan share costs
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when categories have nothing to do with
quality of care the results are
catastrophic planned for those that
qualify and usually is for those who are
under the age of 30 each level pays a
different portion of your healthcare
bills grouping plans this way makes it
easier to shop for insurance for example
the top-of-the-line plan is platinum it
pays the highest portion of your
healthcare bills it is also the most
expensive one the basic plan is bronze
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it pays on average 60 percent of your
healthcare bills and costs the least you
can check out on my website is side by
side table with all this plans so as I
mentioned before there is a catastrophic
plan or a minimum coverage plan for
those who are under the age of 30 quite
frankly this plan is a bit tricky so if
you are considering it I highly advise
that you study the benefits carefully
before applying for this one again this
is an option only for those under the
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age of 30 now there is one very
important thing that many consumers do
not know and end up overpaying for their
health insurance those who have minimum
coverage plans do not qualify to receive
premium assistance also known as
advanced premium tax credits minimum
coverage plans usually cover three
doctor visits or urgent care visits with
no out-of-pocket costs and free
preventive benefits all the other
services will be fully priced but ever
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negotiated in network presidentially
reach the out-of-pocket maximum now
let's talk about the bronze plans these
are usually the high deductible plans on
average your health plan pays 60% of
your medical expenses and you pay 40% I
will go over the details for this plan
shortly silver plans are a good
alternative for those that can't
tolerate a high deductible plan yet
don't want to overpay for a higher level
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of coverage as I mentioned in the
beginning of this presentation in some
cases individuals may qualify for an
enhanced silver plan
through covered California this means
that when they choose a silver plan they
have based on their income enhanced
out-of-pocket savings through lower
co-pays coinsurance and deductibles
individuals in this savings categories
get the benefits of a gold or even a
platinum plan for the price of a silver
plan this plans are only available on
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the exchanges and feel free to reach me
and I'll help you understand if you
qualify for enhanced silver plans or not
old plans do not have deductible and the
premium is a bit higher on average your
health plan pays 80 percent of your
medical expenses and you pay 20 percent
platinum plans this is the highest level
of coverage available it pays on average
90% of the medical expenses and does not
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have a deductible and now let's take a
look at a comparison of plans for year
2020 as I said this is a general plan
design so no matter what health plan you
select Blue Shield Kaiser Oscar Valley
health plan Health Net Anthem Blue Cross
Sattar health and so on you will be
looking at the same plan structure if
you are comparing apples to apples so
here are the metal categories and
coverage for year 2020 before I go into
the plan details I wanted to mention
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that in case any of the terminology is
unclear please feel free to watch my
videos where I explain what is a
deductible what is a copay what is the
coinsurance and so on this will help you
navigate the benefits structure of the
plans and get an idea of how this plans
work so let's take a closer look at this
plans
so for bronze plants you don't pay the
deductible for the first three visits
per year which includes a combination of
primary care specialists and urgent care
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the lab is $40 and is not subject to
deductible the annual wellness exam who
are preventive is included at no extra
cost the copay for the primary care
visit and Urgent Care is $65 and the
specialist visit copay is $95 this might
be a good plan for those that are
healthy and rarely go to the doctor
obviously if you need more care you will
have to pay more out-of-pocket with this
plan again in the description of this
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video I will have a link to a
side-by-side comparison of this plan so
feel free to check it out now let's look
at the silver plans the silver plan has
a lower deductible there are no
restrictions on how many times you can
visit the doctor per year you will paint
a duck table mostly when you are
hospitalized and here are the co-pays
for this plan so the primary care visit
and urgent care visit and lab is a $40
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copay and I mentioned deductible for
this plan is $4,000 a year the gold plan
has no deductible the co-pays and
coinsurance are lower than those for the
silver plan this plan costs more each
month but the insurance based on average
80% of your medical cost and you pay the
rest again the deductible is zero the
primary care visit and Urgent Care is
$30 copay and the lab tests are $40
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copay the platinum plan has no
deductible the co-pays and coinsurance
are lower than those for the gold plan
this plan costs more each month but the
insurance pays on average 90% of your
medical cost and you pay the rest
obviously the platinum plan has the
highest premium each month if you are
healthy and rarely go to the doctor it
might not be a good idea to buy the most
expensive plan on the market right so
deductible is zero for this
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the primary care visit urgent care and
lab tests are $15 each now you can take
a look at a more detailed comparison on
my website I can also provide a
comparison of rates and plans for your
specific situation so for example
compare you can we can compare Blue
Shield with Kaiser Oscar health nets at
health anthem BlueCross vhp plans and so
on there are no extra fees for my
services so feel free to take advantage
of professional help and advice now I
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want to mention that dental coverage is
not included in the medical plan so if
you need dental insurance that is
separate the same applies for vision
only pediatric dental and vision is
included in the medical plans at no
extra cost
since dental plans could be a bit tricky
learn your options before buying it
you might also benefit from the
negotiated rates for dental and vision
plans available through covered
California again I can help with that as
well
now as I mentioned in the beginning of
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this video here's the important
information for California specifically
that relates to the penalty as you know
the penalty was repealed in year 2019
but other provisions of the Affordable
Care Act are still in force some states
including California enacted legislation
to rein reduce the penalty starting with
the year 2020 the legislation was
approved and on January 1st 2020 a new
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rule requires Californians to have
qualifying health insurance coverage
through the year the penalty will be
applied by the California Franchise Tax
Board when you file your state tax
return the penalty for not having
insurance in California will mirror the
one that used to be under the Affordable
Care Act which was six hundred and
ninety five dollars per adult and three
hundred and forty seven dollars and
fifty cents per child under the age of
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eighteen or 2.5 percent of annual
household income whichever is greater
the open enrollment requirement is still
enforced so in California you can buy
health insurance starting from October
15 2019 through January 15 2020 unless
there will be an extension once the open
enrollment closes you no longer can
apply for health insurance unless you
have a qualifying life event you can
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check out our video about the specifics
of the qualifying life events so that's
all for now if you have questions feel
free to address it in the comments below
or reach out directly to us we love
helping people and of course if you
found this information useful please
share it and like it we will certainly
appreciate it thank you
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