Many people have reached out and inquired about how the new Administration and President-elect Donald Trump will affect the current ACA. I'll continue to stick to the script and reply, "I'm not sure". With that said, I can share some of my previous experiences. Prior to ACA, individuals/families could be denied coverage due to medical conditions. These conditions could range from ear infections to Cancer. The applicant could not be declined coverage if they had continuous 'credible coverage' 18 months prior to applying. In the event they did not, these applicants would be referred to the State of WI's HIRSP plan. This plan had a higher premium, but was an alternative for the applicant. The State of WI's HIRSP plan was eliminated with the implementation of Obamacare. In summary, as a licensed Health Insurance agent of nearly 20 years, I would advise my clients to stay covered until decisions are confirmed. I don't believe insurance carriers would be able to remain profitable if the tax credits are pulled and they have to continue to guarantee coverage to everyone. I would imagine that an insured would have to have had prior coverage for some time prior to enrolling in their new proposed plans. Need a quotation, contact me at 414-716-6274. Remeber, this is JUST MY OPINION!
Shantel S. Bacchus is the founder of Bacchus Insurance Group. She is a licensed and exchange certified health insurance agent, is currently studying for her ChHC with the American College of Financial Services. She has over 20 years of experience in the insurance industry, in which she has hosted several workshops on Retirement Planning, Life Insurance and Risk Management.