Cost Sharing Reduction
Confused about Obamacare still? I get it. All of our clients are as well. Until you fully use the plan and have a big emergency, you’re never going to get it.
MAPFL BLOG
Cost Sharing Reduction
Confused about Obamacare still? I get it. All of our clients are as well. Until you fully use the plan and have a big emergency, you’re never going to get it.
Which is great—if you understand that, it means you’re healthy. Keep staying healthy, that’s what you want.
But in the event you do utilize your plan, most of you are probably familiar with what I refer to as phase two of Obamacare, which is the cost-sharing reduction. We’re all familiar with phase one, which is the subsidy that lowers your premium.
But very few people are familiar with the cost-sharing reduction, phase two, which lowers your deductible, out-of-pocket maximums, co-pays, and all of that.
If you’re interested in learning more a
Main Points:
- Confusion about Obamacare is common:
- It acknowledges that many people, including clients, struggle to understand Obamacare
- The complexity of the plan becomes more apparent when individuals experience an emergency or need to use it.
- Health as a sign of minimal plan usage:
- If someone hasn’t had to use their plan, it likely means they are healthy—a positive
- Introduction to Two Phases of Obamacare:
- Phase One:
- Most people are familiar with the premium subsidy, which reduces the cost of monthly premiums.
- Phase Two:
- The Cost-Sharing Reduction (CSR) is less well-known.
- CSR helps by reducing deductibles, out-of-pocket maximums, and co-pays.
- Phase One:
Cost Sharing Reduction
Additional Insights
- Clarify Eligibility for CSR:
- CSR benefits apply to individuals with incomes between 100-250% of the federal poverty level who purchase Silver-tier plans from the Health Insurance Marketplace.
- The Importance of Knowing Both Phases:
- Many people only focus on lower premiums (phase one), but phase two can significantly affect affordability if healthcare services are needed.
- A clearer understanding of both phases can prevent unexpected costs.
- Suggestions for Clients:
- Consider scenarios where CSR could benefit them in the future—especially if health needs change.
- Encourage annual plan reviews to ensure they’re maximizing benefits under the plan.
Stop being confused and call us today
at 602-499-8722 or fill out the form
and we will contact you within 24
hours.
We will never share your infomation!
Here is a great resource for Out of Pocket Maximum Limit:
Notes from Adam – page still Alt Text for image. H1, H2 and paragraph for words. Need external and internal links. Bold some keywords
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