Affordable Care Act Penalty May Be Necessary For Some

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Just about everyday you'll find him in the gym.

Trey Harris played at Mitchell High School, competed in college, the Drew League and even pro ball. Now he's self-employed, teaching the finer points of the game to more than 50 Colorado Springs athletes.

Being young and healthy, he thought the health plans under the Affordable Care Act would be affordable, but after sitting down with a certified insurance broker he's not so sure.

Trey says, "People really don't understand how much it's going to cost and the penalty might be an advantage right now because the cost for me ... and I'm listed as a single male, 26. And the cost is going to be $330 a month. That's crazy."

Michael Horvat with tells Trey, "You're what we call bulletproof."

Horvat who specializes in individual coverage and senior supplements, says it's really important that people do their homework.

He says those who find the health plans offered under the exchange too expensive like Trey might consider paying the penalty, 1 percent of their gross income and investing in a low cost plan to cover accidents and critical care.

Horvat says, "Match the plan that fits your history of how you use health care."

He says Coloradans have 14 different insurance companies to choose from and each company offers a variety of plans.

He suggests that people weigh these factors: monthly premiums, out of pocket expenses like deductibles and co-pays, as well as possible subsidies. After finding the best plan for you, make sure your doctor accepts that plan.

A person's income level may also qualify one for a tax credit subsidy. People making between 100 percent 400 percent of the federal poverty level could be eligible.

The best advice is to meet with a certified health insurance broker. They are listed on the Connect For Health Colorado website.