Posted: 04/15/2014

Has Your Employer Dropped Your Health Insurance?

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Several large companies have dropped health insurance options for part-time employees, including Target, Trader Joe’s, and Home Depot. In most cases if you have a part-time job, under the Affordable Care Act, part of your health insurance premiums can be subsidized. Also, you could actually have better health insurance benefits than you did previously with a new health insurance plan. However, if you are a high-salaried employee that has lost healthcare benefits, the change may not be so advantageous for you, and if you just lost coverage and the transition period expires you may have to pay out of pocket for medication and doctor visits. There are other ways to help control your healthcare costs though.

Options through the Health Insurance Marketplace

If you have lost coverage, peruse the health insurance marketplace to learn more about your new health insurance options. Here we’ve provided a snapshot of the average national tax subsidies available for silver plans when you apply for health insurance through healthcare.gov. Silver plans must cover preventative care costs and 73% of your total possible health care expenses for the year. If you want to further lower your monthly insurance premium, you may choose a bronze plan, but this will result in more out-of pocket expenses. If you earn an average part-time salary, you will more than likely qualify for a tax deduction or subsidy that covers over 50% of your health insurance cost.

Annual Income-Single Tax Subsidy % of Premium Covered Your Monthly Cost
$15,000 $2,245 88% $25
$20,000 $1,524 60% $85
$25,000 $816 32% $144

 

If you happen to be married or have children, your household income can be higher, and you will get subsidies or deductions similar to the ones below.

Annual Income-Married Tax Subsidy % of Premium Covered Monthly Cost for Two
$32,000 $2,994 59% $174
$36,000 $2,408 47% $223
$40,000 $1,769 35% $276

 

If you or your family’s status isn’t covered on these charts, or you would like to calculate specific state rates, click here.

I Lost My Insurance after the Enrollment Deadline

If your health insurance happened to be dropped after the open enrollment deadline, which was March 31 for the national health insurance marketplace, you can still apply for health insurance through healthcare.gov. Losing access to your previous health insurance is what insurance companies call a qualifying life event. This permits enrollment outside the normal period. Other qualifying life events include having a baby, getting married, moving, or a change in employment status. A change in employment status not only includes losing a job, but also includes going from full-time to part-time status, or becoming self-employed, among others.

How to Reduce the Price of Medications – Regardless of Insurance

While you make a transition to a new health insurance plan, or you find yourself with high out-of-pocket pharmacy costs, there are options to lower the cost of your medications regardless of your insurance status. Prescription & drug discounts, available through HelpRx, can help you save up to 75% off the cost of a medication in your pharmacy. In some cases, discounts can be as high as 90%! If you have a higher income level and are not eligible for healthcare subsidies or patient assistance programs, HelpRx discounts are just as helpful and available to you as they are to everyone else. The average family saves over $300 a year. HelpRx prescription discounts are free and accessible through our printable coupons, electronic coupons, mobile app, or discount cards.

Top Discounts

Medication Purpose Discount
Amoxicillin Antibiotic 85%
Ibuprofen Pain Killer 70%
Prednisone Anti-inflammation 58%
Cymbalta Antidepressant 88%
Bromfed DM Cough/Cold 75%

 

We offer many prescription discounts beyond just those listed above, be sure to search our discount database for the savings available for your pet’s needs. Also, view our Affordable Care Act infographic for more information about how the affordable care impacts you. Also keep in mind that if your health insurance has been dropped by your employer you do now have options to cover your medical costs.

By Diana, HelpRx Staff Blogger

Get your Prescription Discount Card and automatically SAVE on over 50,000 drugs nationwide.

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About the HelpRx.info Blog

HelpRx.info is staffed by experts in the prescription medication industry. Get the latest health, medical news and pharmaceutical news that can save you money and allow you to take charge of your healthcare. With frequent updates about the prescription drug industry as well as medicine news, you'll gain an insider look into the industry and learn more about how to get the best price on your prescriptions while not sacrificing quality. Subscribe to the HelpRx.info pharmacy blog through our RSS feed or get updates by liking HelpRx.info on Facebook and following HelpRx.info on Twitter.

About HelpRx

Our discounts provide you access to negotiated prices on your prescription drugs at your local pharmacy. We can provide these because we're partnered with OptumRx, a BIG pharmacy benefit provider that provides prescription coverage for MILLIONS of people like you.

About ScriptRelief

Script Relief, the creator of the NPSN card and HelpRx discounts, helps consumers save an average of 50%, and up to 75%, off their prescriptions.

Popular Post

 

Get your Prescription Discount Card and automatically SAVE on over 50,000 drugs nationwide.

Helprx_branded_card_desktop Click-here-redbg

Popular Post

 

About the HelpRx.info Blog

HelpRx.info is staffed by experts in the prescription medication industry. Get the latest health, medical news and pharmaceutical news that can save you money and allow you to take charge of your healthcare. With frequent updates about the prescription drug industry as well as medicine news, you'll gain an insider look into the industry and learn more about how to get the best price on your prescriptions while not sacrificing quality. Subscribe to the HelpRx.info pharmacy blog through our RSS feed or get updates by liking HelpRx.info on Facebook and following HelpRx.info on Twitter.

About HelpRx

Our discounts provide you access to negotiated prices on your prescription drugs at your local pharmacy. We can provide these because we're partnered with OptumRx, a BIG pharmacy benefit provider that provides prescription coverage for MILLIONS of people like you.

About ScriptRelief

Script Relief, the creator of the NPSN card and HelpRx discounts, helps consumers save an average of 50%, and up to 75%, off their prescriptions.

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About Our Savings:

HelpRx.info is a discount pharmacy service, partnered with a leading pharmacy benefit manager. We negotiate lower prices on prescription medications, that we pass on to our members for free. There is no cost to use our cards and coupon, and anyone can take advantage of our discounts, regardless of healthcare coverage.

Our savings assurance of “up to 75% off” comes from historical data from actual claims. This data includes savings for both brand name and generic medications.