Zane Benefits Publishes New Information on the South Dakota Insurance Exchange
Exchange to Help 92,441 or 13% of South Dakota Residents Find Coverage in 2014
Park City, Utah (PRWEB) July 16, 2013
Today, Zane Benefits, the online alternative to group health insurance, published new information on the South Dakota Health Insurance Exchange.
According to Zane Benefits’ website, beginning in 2014 as part of the Affordable Care Act (ACA), health insurance coverage for individuals and small businesses will become available through new state health insurance exchanges (also called health insurance marketplaces).
South Dakota will default to a federally-facilitated health insurance exchange. The South Dakota Health Insurance Exchange will open for enrollment on October 1, 2013, with coverage starting January 1, 2014.
A key part of the South Dakota Health Insurance Exchange is that eligible individuals and families will be able to access individual premium tax subsidies, capping the cost of their premium between 2% to 9.5% of income. Individuals qualify if their household income is up to 400% of the federal poverty level, and they are not offered qualified, affordable insurance through their employer. The Exchange will also screen for Medicaid and public assistance programs. These premium tax subsidies will only be available through the Exchange.
According to an estimate by healthcare.gov, 92,441 or 13% of South Dakota’s non-elderly residents are uninsured.
All plans offered through the South Dakota Health Insurance Exchange will meet the ACA definition of a Qualified Health Plan (QHP). The plans will be offered by level of coverage for essential health benefits (EHB), to allow consumers to compare plans on an "apples to apples" basis.
The South Dakota Health Insurance Exchange will follow federal guidelines for insurance professionals selling policies through the Exchange and for navigators assisting consumers and small businesses.
More details on the South Dakota Health Insurance Exchange insurance broker and navigator programs are expected this summer.
About Zane Benefits
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for Health Reimbursement Arrangements (HRAs) and defined contribution health care. The flagship software provides a 100% paperless administration experience to small businesses and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about ZaneHRA, visit http://www.zanebenefits.com.
For the original version on PRWeb visit: http://www.prweb.com/releases/2013/7/prweb10933676.htm