Best Health Insurance Agency Orlando

Orlando Health Insurance Agency Overview

If you’re looking for individual or family health insurance in Orlando and Florida under the Affordable Care Act also known as Obamacare, you’ll probably have a good chance of getting government subsidies to lower your costs. You can also get low-cost or free Orlando health insurance agency through public programs like Medicaid and the Children’s Health Insurance Program (CHIP).

Health insurance through Medicare is also a big deal in Orlando. So if you’re at least 65 years old (or disabled), Medicare may be a cheaper option for you.

You can review the sections below to learn different aspects of buying health insurance in Orlando, such as how to enroll, average health insurance costs, and income requirements to qualify for subsidies.  

Orlando Health Insurance Agency Facts

• Over 87 thousand people enrolled in an ACA plan in 2021.
• 138 thousand Orlandians enrolled in Medicare in 2020.
• 13 insurance companies sell individual and family health insurance in Orlando, agency.
• Orlando who got an ACA plan paid an average of $89 per month after federal subsidies.
• Premiums will rise 6.6% for the 2022 plan year.

Orlando and the Affordable Care Act

Although there are attempts to repeal the ACA, or at least some parts of it, you can still sign up for Florida health insurance, apply for subsidies to lower your monthly costs, or get coverage through Medicaid if eligible.

Orlando Health Insurance Enrollment in the Marketplace

Orlando uses the federal exchange at Healthcare.gov for Obamacare open enrollment that takes place from November 1 to January 15 each year.

Despite opposition to the federal healthcare law by state legislators, Orlando has had the highest number of sign-ups for individual Obamacare plans since 2015.

Orlando saw enrollments climb from about 1.7 million in 2018 to just over 2.1 million in 2021.³

The vast majority of Floridians who enroll in Marketplace coverage are under age 65, which shouldn’t be a surprise given that the 65-and- older age group are better suited for Orlando Medicare plans. As of 2021, total ACA enrollment for the under-65 market in Orlando is nearly 2.1 million compared to nearly 45,000 for those 65 and older.⁴

Medicare Enrollment in Orlando

Most people know Medicare as government health insurance for people 65 and older. But people under 65 with a disability or chronic illness can also get Medicare.⁵ Speak to your Orlando Health Insurance Agency.

With the Sunshine State being a top retirement destination, it may be no surprise to know that Orlando has the second highest number of Medicare enrollees of any state. As of 2020, more than 4.6 million Floridians are enrolled in Medicare.

Among Orlando's Medicare enrollees, more than 2.4 million get benefits directly through the federal government’s Original Medicare program. Another 2.2 million get coverage through private Medicare Advantage plans, which offer benefits not included with Original Medicare such as prescription drug coverage.⁶ Since 2018, a separate 96 thousand Orlando residents (approximately) are enrolled in standalone Medicare Prescription Drug Plans.⁷

As of 2021, Aetna, Anthem, Florida Blue, Humana, and UnitedHealthcare are the largest Medicare Advantage providers in Orlando by number of enrollees.⁸

Private Health Insurance Agency in Orlando

When it comes to private health insurance, you always want to find a comprehensive plan (not a short-term-medical or limited benefit plan like the ones offered on ehealthinsurance.com). In order to qualify for any private health plan offering a plan with a true out-of-pocket maximum, that will even cover your pre-existing conditions (as long as you disclose them when applying), is the get medically-underwritten coverage.  This allows you the ability to be grouped with healthier people, pay lower rates, have access to a major PPO network that works nationally, better benefits and more!  The only catch?  You have to be relatively healthy when you apply. Therefore, and especially if you don't qualify for a large premium tax credit, you would be paying much less and getting much more. 

What is comprehensive major medical?

A comprehensive major medical insurance policy covers the major portion of the charges incurred during hospitalization. Depending on your insurance provider and your policy, coverage may include expenses for the pre-admission diagnosis, which include payment to the medical specialist, lab work, exams and X-rays. In most policies, treatments for critical illnesses such as cancer are also covered by the plan.

Some insurance providers may cover over 75 percent of the total expenses. In most cases, you will need to seek treatment from accredited providers, although some policies provide reimbursement for treatments provided by non-accredited facilities and health care professionals.

 

Health Insurance Agencies in Orlando

You have access to 2022 individual and family health insurance from 14 companies that sell plans both on and off the exchange. You can also buy these plans if you’re a self-employed entrepreneur with no employees.

For the 2022 plan year, four new insurers are entering Florida:⁹

• Capital Health Plan
• Coventry Health Plan of Florida
• Sunshine State Health Plan
• UnitedHealthcare of Florida

Below are Orlando health insurance companies offering 2022 ACA plans in the individual market:

1. AvMed
2. Blue Cross and Blue Shield of Florida
3. Bright Health Insurance Company of Florida
4. Celtic Insurance Company
5. Capital Health Plan
6. Cigna Health And Life Insurance Company
7. Coventry Health Plan of Florida
8. Florida Health Care Plan 
9. Health First Commercial Plans
10. Health Options 
11. Molina Healthcare of Florida
12. Oscar Insurance Company of Florida
13. Sunshine State Health Plan
14. UnitedHealthcare of Florida

Orlando Health Insurance Costs

For 2022, the state approved a 6.6% increase on the average unsubsidized premium, or a rise of $40 per month.¹⁰

Meanwhile, Orlando residents who enrolled in 2021 Marketplace coverage paid an average premium of $599 per month before premium tax credits (called subsidies) and $104 per month after tax credits. Those already receiving subsidies saved $527 on average, which brought their monthly premium down to an average rate of $73. We talk more about subsidies and how to qualify in the section below.

Check a 2022 subsidy chart and calculator to see which subsidies you might qualify for.

Orlando and Obamacare Subsidies

For 2021 and 2022 the federal government changed the subsidy income limits, doing away with that 400% cap, or “subsidy cliff.” Instead, families now are expected to pay no more than 8.5% of their annual income toward health insurance costs.

Previously, if your income was between 100 and 400% of the federal poverty level (FPL), you qualified for Obamacare subsidies to get low-cost coverage through Florida Health Insurance Marketplace in Orlando. This means that for 2021, you would have had to earn between $12,880 and $51,520 for a single-member household and $26,500 and $106,000 for a family of four.

In other words, Orlando is one of the best cities to get financial assistance for individual and family health insurance under the Affordable Care Act or Obamacare. As of 2021, 93% of Orlando Marketplace enrollees receive subsidies that lower their monthly premiums. Another 61% receive cost-sharing reductions that help reduce out-of-pocket expenses, such as copays and prescription drug costs.

Keep in mind that subsidies are only available on metal-tiered plans sold through the Marketplace, which are bronze, silver, gold, and platinum. And only silver plans qualify for cost-sharing reductions.

Orlando Short-Term Health Insurance Agency

Keep in mind, if you need coverage for a limited time, Orlando short-term health insurance may be right for you. This can happen if you’re changing jobs, waiting for coverage to begin at a new job, or you missed the annual open enrollment and don’t qualify for a Special Enrollment Period to buy an Obamacare plan.

In addition, below are some highlights of short-term health insurance:

• Offers initial coverage limits up to 364 days with renewals for up to 36 months
• Can enroll year-round and get coverage as soon as the next day
• Offers limited coverage for services, such as emergency care, doctor’s visits, and specialist care
• An alternative to Obamacare — plans don’t have to follow federal rules for things like covering pre-existing conditions and including essential health benefits
• Can be denied coverage based on health status. Speak with your Orlando health insurance agency.
• Usually cheaper than Obamacare — can get a plan for less than $100
• Plans are not eligible for federal subsidies 

Source and full article: https://healthcareinsider.com/florida-health-insurance-17913

In conclusion,  we suggest requesting a quote or scheduling an appointment to review all of your options at once. Above all, as a health agency/advisor, I am able to show you every option via webinar.

 

This article has been modified for SEO purposes for the terms Health Insurance Agency Orlando and some data and facts may not be accurate.*