2020 is the year with the most changes in health insurance in the United States, so policyholders must understand these changes in order to obtain more reasonable insurance and get more benefits.

Next, let’s take a look at what changes will happen to US health insurance in 2020.

 

The lowest historical increase in premiums

Although the premiums for health insurance are increasing every year, as the health insurance market becomes more stable and mature, the increase in premiums in 2020 is the lowest in history. Compared with 2019, the average increase in personal premiums in the United States was 0.1%, the average increase in California was only 0.8%, and the average increase in Southern California was 0.1% to 2.26%. There are also some states, such as Nevada, Arizona, Florida, Maryland and Wisconsin, not rising but falling.

This means that during the opening period of health insurance, if the policyholder wants to save premiums, he can reduce the plan level during this period, which may save 10% of the premium; or if there are more medical needs, he can choose to upgrade during this period. Insurance plan.

The fine will be cancelled.

 

In 2018, the federal government abolished the “no health insurance” fine. From 2019, even if the insured does not purchase health insurance, there is no need to pay a fine.

However, if the insured is a resident of California, Washington DC, New Jersey andMassachusetts,

This law does not apply to them. If the policyholders in these places do not purchase health insurance, they will still be fined.

In 2020, California will re-enforce the “no health insurance” fine, the fine tax is the same as in 2018, the adult is $ 694 per person, the minor under 18 is $ 347.50 per person, or 2.5% of a family ’s income, in amount Whichever is higher.

This means that residents who live outside of California, Washington DC, New Jersey, and Massachusetts can choose not to purchase health insurance. However, to prevent accidents, it is recommended that the policyholder consult a health insurance expert and purchase one Suitable for your own medical insurance.

New regulations for new immigrants

New US government regulations for new immigration applicants:

New immigration applicants must prove that they have medical insurance within 30 days of entering the United States, or have sufficient funds to cover medical expenses, otherwise they will be refused visa or refuse entry.

Although the rule was temporarily suspended by a federal judge, it will take effect sooner or later, and it has become a recognized fact in the industry.

This means that once the new regulations are implemented, new immigrants must purchase health insurance according to the latest regulations or prove that they have sufficient funds to cover medical expenses.

For green card holders who are not in the United States for a long time but need to file taxes, if they do not care about the fine, they can choose not to buy it. However, we still recommend buying an international medical insurance with the cheapest US medical insurance, so that it is not only universal, but also payable in major cities in China.

California premium subsidy threshold will be significantly reduced

As we all know, US citizens or green card holders can apply for health insurance with government subsidies.

The amount of insurance premiums and subsidies is linked to the number of taxpayers in the family, the annual income of the family and the area of ​​residence.

In 2019, California has passed a new bill that lowers the threshold for premium subsidies, with income in the 400%-600% range of the federal government’s poverty line, which is applicable.

Many middle-income families can now enjoy premium subsidies to ease the burden of annual premiums.

Personal income from US $ 49,960 to US $ 74,940, family income from US $ 101,461, and income from a family of four from US $ 103,000 to US $ 154,500 are all eligible for premium assistance.

After receiving the subsidy, some medical insurance plans only cost $ 1 per month.

It is still the California health insurance opening period (October 15, 2019 to January 15, 2020). If you plan to purchase health insurance or adjust an existing health insurance plan, you need to operate as soon as possible, and don’t miss the opening period.