Professional Insurance Producers

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Remember when determining the size of your company, all your W2 employees count towards the total number of employees (part time, seasonal, union employees even if they are not on your group plan, etc.).

We strive to exceed the expectation of our clients by providing professional care, service, knowledge, and expertise.

Ready or not, the Affordable Care Act (ACA) is upon us. Everyone must have health insurance in 2014 and beyond. AND EVERYONE IS GUARANTEED HEALTH INSURANCE IN 2014. The health insurance exchanges are open. The agents at Professional Insurance Producers are certified to sell plans that are on the Illinois exchange, as well as plans that are off the exchange. Individuals with a Modified Adjusted Gross Income (MAGI) below $45,960 will qualify for a premium tax credit. Those individuals with a MAGI below $28,725 may also qualify for cost sharing (reduced deductible and coinsurance). Here is a chart for your reference based on your family's size: Family Size Yearly Income 1 $45,960 2 $62,040 3 $78,210 4 $94,200 5 $110,280 6 $126,360 The premium tax credit is based on your projected income in 2014. To receive premium tax credits, you must shop on the exchange. If you do not qualify for premium tax credit, there are no advantages for you to shop on the exchange. The off-exchange market offers more carriers and plans. Hence, you will have more choices. Whether you shop on or off the exchange, please call us at (847) 297-5511 to facilitate the process and explore your options.

As of January 1, 2014, group medical insurance is subject to new rules and regulations under the Affordable Care Act (ACA). Based on the size of your company different regulations apply to your company when offering group medical benefits. The Small Business Administration has created a site with tools to help educate small business owners about the ACA.

Blue Cross/Blue Shield is the premier Medicare Supplement and you can apply for one of the 6 Medicare Supplement plans they offer through Professional Insurance Producers. Blue Cross/Blue Shield offers a standard plan as well as their Med-Select Plan that reduces your monthly cost. The Med-Select Plan consists of a hospital network. The hospitals in the network must be utilized or you are responsible for the Part A deductible unless it is an emergency. So, if your hospital is in the network the Med-Select Plan is worth considering.

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