The Federal and State health insurance marketplaces that will begin enrolling individuals & families in health insurance plans beginning October of this year promise to provide more options than ever before. However, it will likely not be an easy process if you are not prepared.
There are a handful of things you should research or think about before you begin shopping for a plan for you and your family
1. Become familiar with different health insurance types, and what might best fit your needs.
2. Make sure you understand the basics of how health insurance works such as deductibles, co-payments, and out-of-pocket maximums etc.
3. Put together a list of questions that you might require answers for, such as benefits when traveling out of state, or other items that might be specific to your needs.
4. Know how much you can afford or are willing to budget for your health coverage. This will determine whether you will be likely be shopping for a Bronze, Silver, Gold or Platinum Plan
5. Start pulling together tax returns or other documents that might help determine your household income and eligibility for subsidies
6. If you are currently covered under an employer sponsored plan, attempt to find out whether they plan to continue to offer coverage in 2014.
7. Get health insurance quotes from top health insurers in your state now. If yous are young and healthy and might not be eligible for federal subsidies, your health insurance premiums will likely rise dramatically effective January 2014 according to most experts. However, some national carriers offer a 12 month rate lock when you enroll, so if you are able to secure a policy in advance, you may be able to enjoy significant saving for 6 months or more.
Written by Jeff Levy
Tags: ACA, affordable care act, exchange, health insurance marketplace, individual and family health plans, obamacare