The widely reported June 25, 2015 decision by the Supreme Court is good news for U-Haul Dealers getting their health insurance plans through the U-Haul Dealer Benefits Program national private health exchange.
How so? Our private exchange has had federal approval to process the premium tax subsidies for the past two years for Dealers and employees whose incomes qualify. The ruling gives the nation some much needed stability in the state health insurance markets and a guarantee that tax subsidies are available no matter what state you live in, across all exchanges, including the U-Haul Dealer private health exchange!
The ruling also underlines key insurance market changes brought about by the federal reform law. The reforms affect all of us and every health organization in every state. Our U-Haul program is no different. Due to the universal reach of Obamacare, we are also subject to the reforms. We think there are still parts of the law to dislike, but with the court ruling, important consumer protections will continue to benefit Dealers and employees:
- Free to use a private health exchange – rather than one of the public exchanges.
- Guarantee Issue with no health questions asked – but must enroll during a federal enrollment period
- National standards for policy benefits insurers must cover – including no lifetime policy limitations
- Premium tax subsidies for those with incomes between 100%-400% of the federal poverty level – but a tax penalty to pay if you have no plan
Mark your calendar to come back to this U-Haul Dealer Benefits Program website in early November.
The next federal Open enrollment begins in November for health plans effective January 1, 2016. Insurance companies across the nation are re-filing their health plans and rates to get state insurance department approval to offer them for 2016.
Unfortunately, the reform law’s promise of lower cost health insurance plans has not been fulfilled and, frankly, we see no relief in sight.* Each state continues to be different, with people in some states having far fewer health plans to choose from and far higher premium rates. Insurance companies and state insurance regulators control this, reflecting the wide variations in what health providers charge for care in each state.
But that’s how we help. Each fall, the U-Haul Dealer private exchange does the due diligence for you. We find the top-rated insurers permitted to do business in each state and we identify the best-value health plans from those top carriers to make available to you on our exchange. Some plans cost less than others, because we give you a choice of plans having both richer and slimmed-down benefit designs. You choose, based on your health.
In the meantime, during the middle of the year, people’s lives change and so does the need for health coverage. Our private exchange guides you through the process to see if you qualify for a Special enrollment to enroll, change or upgrade your plan. Also, keep in mind that all of the other important benefits available to you through the U-Haul Dealer Benefits Program are open for enrollment all year around. So if you need Dental, Accident, Long Term Care, Life insurance or Vision/Hearing or 24-Hour Doctor On-Call benefits, just go to the appropriate section of the website, read up on it and enroll.
It’s your U-Haul ‘do-it-yourself” secure and confidential online resource for health insurance and benefits. Call us at the benefits department (during regular business hours, please) with questions and for help. 888-551-9801
* Federal and state documents show that health insurers around the country are seeking rate increases of 20% to 40% in their plan filings with state insurance authorities for 2016, according to reporting by the New York Times, July 4, 2015. These rate increases “are the first to reflect a full year of experience under the federal Affordable Care Act” and the public exchanges and suggest that “insurance markets are still adjusting to shock waves set off by the ACA,” said the report.
ALERT: The Centers for Medicare & Medicaid Services authorizes SPECIAL enrollment periods throughout the year for “life events” — such as re-locating, getting married, losing a job that provides health coverage, or having a baby — to give people more chances to enroll in federally-qualified major medical insurance plans for themselves and their families.
You can activate your health insurance and benefits through the U-Haul Dealer Benefits Program. Anytime during the year, we also provide short term medical, dental, accident, life and long-term care insurance; vision & hearing benefit; and affordable Medicare plans. Also available to you is our 24/7 doctor on-call service, called freshbenies, that includes health discounts & more for only $12 a month. Plans and availability vary by state.