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Introduction to kynect Date

Introduction to kynect Date. Objectives. Understand the importance of health coverage Understand basic components of kynect Describe new coverage options Describe insurance affordability programs Know how to become a Certified Application Counselor Organization. Importance of Coverage.

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Introduction to kynect Date

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  1. Introduction to kynectDate

  2. Objectives • Understand the importance of health coverage • Understand basic components of kynect • Describe new coverage options • Describe insurance affordability programs • Know how to become a Certified Application Counselor Organization

  3. Importance of Coverage • An unexpected illness or injury can happen to anyone • Drains financial resources • Personal bankruptcy in the U.S. • Peace of mind

  4. Importance of coverage Health insurance = better access to care • People who DON’T HAVE health coverage are more likely to: • Skip getting medical care that they need • Postpone getting care due to cost • Not fill a prescription due to cost • Have trouble paying medical bills

  5. Importance of coverage Health insurance = better access to care • People who DO have health coverage are more likely to: • Get preventive care that prevents illness • Get earlier treatment for illness or disease • Have better outcomes for health problems, because of early treatment

  6. Importance of coverage • Approximately 694,000 uninsured in Kentucky • Drain on economy • Drain on provider resources

  7. What is kynect? • Kentucky’s response to the ACA • State-Based Marketplace • One-stop-shop for insurance • Medicaid • KCHIP • Private Health Plans

  8. kynect.ky.gov

  9. Enrolling in kynect • One streamlined application for: • Qualified Health Plans – Insurance Affordability Programs • Medicaid • KCHIP • Apply: online, by phone, by mail or in-person • Open Enrollment through March 31, 2014

  10. Expanded Medicaid • Kentucky expanded Medicaid eligibility • 133% FPL • 5% disregard • New populations covered

  11. Qualified Health Plan • Is licensed and in good standing with the State of Kentucky • Meets other standards of the ACA • Covers Essential Health Benefits • Maternity and Newborn Care • Pediatric Care (including dental and vision) • Mental Health Care and Substance Abuse Treatment • Physical, Speech and Occupational Therapy • Doctor Visits • Hospitalization • Emergency Care • Prescriptions • Medical Tests • Wellness Visits

  12. Insurance Affordability Programs • Two programs to help make insurance more affordable • Advanced Premium Tax Credits • Cost Sharing Reductions

  13. Insurance Affordability Programs Advanced Premium Tax Credits (APTC) Cost Sharing Reductions (CSR) • New Federal program • Helps reduce out-of-pocket costs for enrollees in Silver QHPs. • Payments are made to issuers to reduce deductible and co-insurance (out-of-pocket) costs. • New Federal program that uses tax credits to reduce the premium cost for Qualified Health Plans (QHPs) • Can be applied directly to the premium • IRS reconciles over/under payment when people file taxes.

  14. Qualifying for Insurance Affordability Programs

  15. Where to get help • Kynect.ky.gov • Call Center: • 1-855-4kynect • In person Assistance • Insurance Agents • Kynectors • State-funded workers • Federally Qualified Health Centers • Other care providers

  16. Questions?

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