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If you’re noticing lots of news about the Affordable Care Act, often called Obamacare, you’re not alone. At Webb Insurance, we get a lot of questions about the ACA these days. It’s time to set the record straight on whether or not your individual insurance plans will be impacted by this new law.
What Won’t Change
- Long-term Care Insurance. First off, the ACA doesn’t impact long-term care insurance in York, PA, or anywhere else, according to the American Association of Long-term Care Insurance (AALTCI). Although fewer insurers offer LTCI policies these days, at Webb Insurance we have a plan for you.
As always, this type of insurance is less costly for those who enroll by age 60, and is particularly
beneficial for those with no children and little retirement savings. Ask a Webb Insurance agent
about your options.
- Estate Planning. The Affordable Care Act has no direct impact on estate planning practices, but you may experience indirect effects if your employer changes or curtails retirement benefits as health care costs fluctuate.
Having the right estate plan in place gives you peace of mind if you care for elderly parents, own
a home, or have assets you want to protect. Don’t “fail to plan and plan to fail.” Let us create an estate plan for you.
- Term Life and Whole Life Insurance. If your employer alters or drops your life insurance benefits as an indirect result of the ACA, consider the benefits of private term life or whole life insurance instead. Invest in a more secure future today.
What May Change
- Long-term Disability Insurance. Because most of those with disabilities have health insurance coverage via Medicare or Medicaid, the ACA may impact insurance plans if states have opted out of Federal subsidies for either program. Check HealthCare.gov for more information.
- Health Insurance. All those not covered for health care by employer plans must purchase health insurance by March 31, 2014 if they want to avoid tax penalties. Explore your Pennsylvania health care exchange options at HealthCare.gov, or speak to a Webb Insurance representative.
Webb Insurance helps you choose the right health and life insurance or long-term care insurance in York, PA. Call us today!
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