Rate Changes In Previous Years
Heres a look at how average premiums have changed in Indianas individual market since ACA-compliant plans debuted in 2014:
2015: Average increase of 5%
Premiums increased by an average of about five percent in 2015, according to an Indiana Department of Insurance representative. A study by The Commonwealth Fund matched that estimate. The 2015 increase was much more modest than in the years leading up to the passage of the Affordable Care Act.
2016: Average increase of just 0.7%
Across the 8 carriers that continued to offer plans in the exchange in Indiana, the Department of Insurance calculated an approved weighted average rate increase of 0.7% for 2016 . Although Indianas average rate increase for 2016 was considerably lower than the national average, that also has to be viewed in light of the fact that premiums in Indiana were higher than the national average in 2014 and 2015.
Indiana was one of just four states using Healthcare.gov where the average benchmark premium was lower in 2016 than it was in 2015. And the drop was more significant in Indiana than any of the other states, at 12.6%. But benchmark premiums only tell part of the story, since the benchmark plan can change from one year to another, and its just one plan out of many that are offered in the exchange.
2017: Average increase of almost 19%
2018: Average increase of 24%, due in large part to CSR defunding
2019: Average increase of 2.6%
2020: Average increase of 13.5%
2021: Average increase of 10.5%
Insurance Continuing Education Courses
Insurance CE comes in many forms. Most folks nowadays choose to take a self-paced course online, but you can also complete your credit hours by attending an in-person class or even a scheduled online webinar.
- Self-paced Course The most common method of continuing education today. These CE courses allow you to log in to an online platform any time of day to complete your credit hours. Most of these courses are a mixture of video and text combined with a short knowledge exam at the end. Some platforms even allow you to take the course from your phone, which could save you time.
- In-person Class This is how continuing education courses all began. Join your fellow insurance license holders for a live class taught by an industry professional. You may be able to find a school that provides all of your states required credits in a few full-day classes, or you might also take some shorter sessions to fill part of your requirements.
- Scheduled Online Webinar This is essentially the same as an in-person class, except you dont have to travel away from your home or office. You will be taught by an instructor who will deliver the lesson at a specified time. Many webinars even allow you to interact with the instructor if you have specific questions.
Not all continuing education courses are created equal. Be sure to choose the option that best suits your needs.
Medicare For Seniors 65 And Older And Younger Adults With Disabilities
There are two main ways beneficiaries get hospital and outpatient medical insurance .
Roughly seven out of 10 Indiana beneficiaries enroll in Original Medicare.10 This is the traditional program run by the federal government. Its accepted by Medicare providers nationwide.
Many people who enroll buy a separate Medicare Part D prescription drug plan. About 640,000 Indiana beneficiaries bought this plan in 2018.11
Enrollees can also add a Medicare Supplement plan, known as Medigap. Medigap helps pay up some to all Original Medicare out-of-pocket costs, such as deductibles and copayments.
Pass Your Indiana Licensing Exam
After completing your Indiana required prelicensing course, you must pass a state licensing exam. Kaplans Indiana prelicensing content is based directly on the Indiana Licensing exams, so you will be prepared to pass the first time.
Certificate of Completion Requirements
- Certificate of Completion is issued by the education provider at the end of the study course and is valid for six months.
- You must pass your exam and apply for your license during this six-month period.
- Applicant must take the original Certificate of Completion with them to the test center on the day of the exam.
Exam Provider: Pearson VUE
To obtain a Licensing Information Bulletin, go to the Pearson VUE website at . Scheduling an exam may be done online through or by calling Pearson VUE at 866-895-0496.
Frequently Asked Questions About the Indiana Licensing Exam
After completing my Indiana licensing course how should I prepare for exam day?
Online reservations are the most efficient way for candidates to schedule their examination. Candidates must go to www.pearsonvue.com/in/insurance to make an online reservation for an examination. First-time users are required to create an account.
Candidates must make an online reservation at least twenty-four hours before the desired examination date.
The Future Of Individual Health Insurance Mandates
Over the past year, a few additional states have considered or are considering individual mandates, including:
However, so far, none of these states havemanaged to ultimately pass state individual mandates.
Lawmakers who push for individual mandate laws argue that its needed to incentivize people to get health insurance. The argument is that if not enough healthy people sign up for coverage, the pool of insured individuals will be made up mostly of sick people, and health premiums will rise for everyone. However, many states have attempted and failed to pass individual mandate legislation, and these laws remain politically controversial.
According to Forbes.com, the new Biden administration is expected to bring back the federal tax penalty for going without ACA-compliant health coverage. Its unclear yet whether he would do this through an executive order or legislative reform.
You Probably Qualify For New Affordable Care Act Subsidies
On March 11, 2021, President Biden signed the American Rescue Plan Act . The law provides $1.9 trillion of federal aid to Americans struggling with the COVID-19 crisis. The relief measures include additional premium subsidies for those who purchase health insurance through Healthcare.gov. Here’s a quick summary of the types of available subsidies.
Federal tax credits. Under ARPA, no one will have to pay more than 8.5% of their household income for a mid-level plan purchased from Healthcare.gov. Technically, the subsidies are tax credits, but you can choose to have them automatically deducted from the cost of your monthly premiums. These increased subsidies will be available only through the end of 2022 unless Congress enacts legislation to extend them.
Cost-sharing subsidies. More than half of the people who purchase coverage through Healthcare.gov receive assistance in the form of cost-sharing reductions . CSRs automatically reduce your premiums and lower your costs when you use your insurance benefitsâfor example, when you go to the doctor, get lab work, or have to stay in the hospital.
CSRs are available to people who make between 100% and 250% of the federal poverty level. But these benefits are available only on silver plans. If you think you may qualify, look carefully at costs for the silver plans available at Healthcare.gov while shopping for coverage.
Medicaid. You may qualify for free or low-cost coverage through Medicaid in Indiana if your income is very low.
Healthy Indiana Plan / Insurance Marketplace
Domestic students can contact Affiliated Service Providers of Indiana for information or assistance enrolling in these plans. Note that these enrollment periods differ from the student plan.
If you choose to enroll through the Marketplace, this must be completed by August 15, 2021.
- Traditional undergraduate students may elect to enroll in these plans instead of the Student Health Insurance.
- CPS students may be eligible for these plans and enrollment is encouraged for anyone without other health insurance coverage.
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Tips To Save On Health Insurance In Indiana
Under health care law, insurance companies can consider certain factors when setting premiums for their plans:
Age: Premiums may be three times more for older people as compared to younger ones
Tobacco Use: Smoking can lead to more increased health risks so health insurance companies can charge you 50% more
Plan Category: Plan categories include Bronze, Silver, Gold, Platinum, and Catastrophic, with the Bronze plan having the lowest premium and Platinum having the highest.
Location: Location can also affect premium rates.
Type of Plans: Insurers can charge more for plans that cover spouses and/or children as compared to individual plans.
Premiums for health insurance in Indiana cannot be set based on gender or pre-existing conditions.
Indiana Health Insurance Information Resources And Access To Online Health Insurance Quotes
As an Indiana resident you can choose from health insurance plans offered to individuals and groups by private insurance companies. You may also purchase individual and family coverage from participating private insurers through HealthCare.gov, the federal exchange. If you are self-employed with no employees, you can also use the federal exchange to purchase coverage. You may also be entitled to certain state and federal programs such as Medicaid and COBRA.
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Indiana Small Business Coverage
If you own a small business in Indiana , you can purchase qualifying coverage for your employees through SHOP, the Small Business Health Option Program or through a private broker or insurance agent. However, you may qualify for tax credits worth up to 50% of your premium costs if you use SHOP. Beginning in 2016, SHOP will be open to employers with up to 100 FTEs. Under the Employer Shared Responsibility provision of ACA, beginning in 2015, all employers with 50 or more FTEs must offer employees at least one plan that is ACA-compliant or face fines of $2,000 per employee.
Limited Exemptions For Iu International Plan
Most international students in F and J status and their dependents are required to enroll in the IU International Plan, but limited exemptions apply. It is important you do not purchase health insurance from another company unless you are sure you qualify for an exemption category.
- Graduate students with Assistantships or Fellowships who are enrolled on a different IU health insurance plan
- Sponsored students whose sending organization provides approved health insurance as stated in their financial guarantee or contract
- J-1 students in an official exchange program whose sending organization either provides health insurance or funding to purchase health insurance that meets J-1 requirements
- Students enrolled in a health insurance plan provided by their spouse’s or parent’s U.S.-based employer
- Students working on CPT or OPT who receive health insurance through their U.S.-based employer
- Students completing coursework outside of the U.S. due to COVID-19
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Top Health Insurance Companies In Indiana
Since the average health insurance premium for a 40-year-old man in the Hoosier State is about $462 per month, many residents are left wondering if there is anything as cheap as health insurance in Indiana.
Currently, the most affordable health care you can get is Medicaid, which provides you with very cheap or even free healthcare in Indiana. However, if you do not qualify for the program, there are plenty of other private health insurance companies that offer quality health insurance that you can afford.
In this Indiana Health Insurance guide, we compare health insurance plans in the state based on the most popular insurance companies, the cost of these plans, and the different healthcare plans they offer in the Indiana health insurance marketplace. If you are looking for health insurance with coverage in all states, make sure to take a look at our list of the best health insurance companies.
Lets read on for more details
Which Insurance Licenses Do You Need
The first step to getting your insurance license is choosing which licenses you need. The most common licenses new insurance agents get are the property & casualty license , life and health insurance license .
The types of insurance products and policies youll be selling will determine which licenses you need. Here are some examples of the types of policies you can market with each license:
- Life and Health Insurance License Life Insurance, Annuities, Medicare, Health Insurance, etc
Most insurance agents and producers choose to get both P& C and L& H licenses, but if you plan on specializing in only one category then you dont need every license.
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Indiana Small Business Resources*
Indiana Health Insurance Coverage:
Group Plans: There is a maximum 6-month look-back/12-month exclusionary period for pre-existing conditions on enrollees that do not have prior coverage. Benefits will vary depending on the chosen plan. Pre-existing health conditions covered.
Individual Plans: Assorted plans depending on medical needs. There is a maximum look-back period of 60 months and a maximum exclusion period of 24 months for pre-existing conditions on enrollees that do not have prior coverage. Elimination riders are permitted. Limits on pre-existing health conditions may apply.
COBRA: Coverage available for 18-36 months depending on qualifying events. Benefits are what you had with your previous employer. Pre-existing health conditions covered.
HIPAA: Benefits are based on program
health conditions covered.
Indiana Health Insurance Eligibility:
Group Plans: Guaranteed coverage for companies with 2-50 employees. Eligible employees must work at least 30 hours a week. Owner can count as an employee. Owner name on business license must draw wages from the company.
Individual Plans: Eligibility is subject to medical underwriting. If you are denied coverage for a medical condition, you may be eligible for AHIP, or PCIP.
COBRA: Guaranteed coverage available for employees who work for businesses with 20 or more employees. Employees have 60 days from date of termination to sign-up.
HIPAA: Must qualify for Medicaid and have access to Employer-Sponsored Insurance or Cobra.
Indiana Health Insurance Marketplace Enrollment
Indiana uses the federal Marketplace at Healthcare.gov for Obamacare enrollments.
Nearly 125,000 residents signed up for coverage at the end of open enrollment for 2020 coverage. The 2022 Open Enrollment Period typically runs from November 1, 2021 to January 15, 2022. Coverage begins on January 1 if you enroll by December 15.
If you miss sign ups, you can still enroll if you have a qualifying life event, such as marriage or relocation. Otherwise, youll have to wait until the next OEP.
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Americans With Disabilities Act Excuses Some People From Mandatory Vaccination
The Americans with Disabilities Act requires employers to provide “reasonable accommodations” to workers with medical conditions that would make them unable to get a vaccine. The US Equal Employment Opportunity Commission recognizes long COVID as a disability under the ADA.
According to the US Department of Health and Human Services, these civil rights protections apply — even during emergencies — and can’t be waived.
Still, the CDC found that some long COVID patients say their symptoms improved after receiving the vaccination. The agency says more studies are needed to determine how the vaccine affects post-COVID conditions.
How To Get Help With Obamacare Premiums In Indiana
Premium tax credits help reduce your monthly costs. Theyre offered by the federal government when you apply for Marketplace coverage at Healthcare.gov.
Before 2021, if you earned between one to four times of the federal poverty level, you were eligible for subsidies to help you pay for any metal plan.
In 2021, the federal government expanded subsidies and removed the income cap for premium tax credits. Instead, you would pay no more than 8.5% of your annual household income on health insurance based on the price of the benchmark plan. The federal government would cover the balance through subsidies.
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Affordable Care Act’s Coverage Mandate
Under the ACA, also called “Obamacare”, Americans who were not otherwise eligible for an exemption were required to have health insurance coverage for themselves and their families. Failure to have minimum health insurance triggered a tax penalty at the same time, the ACA allowed for the creation of a premium tax credit to help Americans offset some of the cost of getting health insurance through the healthcare marketplace.
This rule changed in January 2019, when the tax penalty mandate for health insurance was eliminated. While the ACA technically still exists, Americans who choose not to maintain health insurance for themselves or their family members in 2019 and beyond won’t be penalized at tax time. It’s estimated that as many as four million Americans will choose not to have health insurance coverage this year as a result of the penalty being eliminated.
As a result of the American Rescue Plan of 2021, all taxpayers with insurance bought on the ACA Marketplace are now eligible for the ACA premium tax credit previously, filers were ineligible if their income exceeded 400% of the federal poverty line.
What Happens If You Object To Receiving A Vaccine When Your Employer Requires It
Just because you have a valid medical disability or theological objection to receiving a coronavirus vaccine doesn’t mean your employer has to let you continue working under the same conditions you’ve been used to. Companies are required to make “reasonable accommodations” if an employee objects to receiving a vaccine for valid reasons. Such accommodations could include allowing the employee to work remotely or take a leave of absence. The employee could also show a negative COVID-19 test once a week, per the president’s mandate.
If you don’t have a medical condition per the ADA or religious reason for refusing the COVID-19 vaccine, your employer has the right to terminate your employment. Note that you likely won’t be able to claim unemployment benefits if that happens because your employer’s reasoning for firing you would be “for cause” that’s tied to complying with company policy.
Some companies are also considering imposing fines on unvaccinated workers refusing to get the shot. This could include raising health care costs, withholding raises and restricting access to workplace amenities. For instance, the NBA says it won’t pay unvaccinated players who miss games.
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