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Question of the week: What is the insurance exchange?

What is the insurance exchange?  There are two exchanges here in Louisiana.  We have the SHOP exchange which is designed for small business employers to purchase group coverage for their employees.  The online function has been delayed until 2015 but you can still purchase coverage this way through an agent or broker such as The Chapman Group.  We have helped many clients navigate this process.  Whether you offer group coverage to your employees today or have waited until now, we can help!  You can enroll anytime in 2014 you wish to start the process.  Our services are no cost to you!

The most talked about exchange here in Louisiana is the FFE (Federally Facilitated Exchange) for individuals to purchase coverage with monthly tax credits to help assist with the cost.  The individual must have a projected income of 100% to 400% of Federal poverty in 2014 to qualify for tax credits.  Anyone can purchase coverage on or off the exchange as an individual even if you do not meet these income guidelines.  We have helped many people navigate this process.  It is a very confusing process that we can make simple and easy through our office.  You have until 3/31/2014 to submit an application .  If you miss this deadline you will only be able to enroll for January of 2015 or if you have a qualifying life event throughout the year.  Please remember our services do not add any cost to you!

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