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ObamaCare - Understanding The Basic
May 31, 2013 - By Staff Writer
Most of us do not understand much about ObamaCare, but here are a few points that should help us understand the basics: To help us understand the different health insurance choices, health insurance companies are required to provide us with an easy-to-understand summary on the health plan’s benefits and coverages.
Open enrollment begins on October 1, 2013
CHECKLIST FOR SMALL BUSINESSES: If you’re a small business owner, you’ll be able to offer your employees new health plan choices through the Small Business Health Options Program (SHOP).
7 THINGS YOU CAN DO TO GET READY NOW
1. Make sure you understand how insurance works. For example, you’ll want to understand the difference between premiums and out-of-pocket costs, like deductibles and copayments. You’ll want to compare these details to help determine which plans are right for you and your employees. Visit Understanding Insurance to learn more about how insurance works.
2. Learn about different types of health insurance. Through the Marketplace, you’ll be able to choose a level of coverage that gives you and your employees the right balance of cost and benefits.
3. Start thinking about when to begin coverage. You’ll need to choose a month to start coverage. Consider what timing would work best for you and your employees.
4. Set your budget. Think about how much money you’re able to spend for group coverage. You’ll also need to consider how much your employees can spend for their coverage.
5. Get organized. You’ll want to have basic information about your business organized and available, like a list of employees you plan to cover and your tax ID number.
6. Make a list of questions you have before it’s time to choose which health plans you’ll offer. Consider what’s most important for your budget and your employees.
7. Look for help. If you already use a health insurance agent or broker, they’ll be able to help you figure out your options. Brokers sell many different insurance products and are usually paid by insurance companies. Agents work for just one insurance company.
CHECKLIST FOR INDIVIDUALS & FAMILIES: Whether you’re uninsured, or just want to explore new options, the Health Insurance Marketplace will give you and your family more choice and selection in health plans.
7 THINGS YOU CAN DO TO GET READY NOW
1. Learn about different types of health insurance. Through the Marketplace, you’ll be able to choose a health plan that gives you the right balance of costs and coverage.
2. Make a list of questions you have before it’s time to choose your health plan. For example, “Can I stay with my current doctor?” or “Will this plan cover my health costs when I’m traveling?”
3. Make sure you understand how insurance works, including deductibles, out-of-pocket maximums, copayments, etc. You’ll want to consider these details while you’re shopping around. Visit Insurance Basics to learn more about how insurance works.
4. Start gathering basic information about your household income. Most people will qualify to get a break on costs, and you’ll need income information to find out how much you’re eligible for.
5. Set your budget. There will be different types of health plans to meet a variety of needs and budgets, and breaking them down by cost can help narrow your choices.
6. Find out from your employer whether they plan to offer health insurance, especially if you work for a small business.
7 Explore current options. You may be able to get help with insurance now, through existing programs or changes that are in effect already from the new health care law. Use our resources to get information about health insurance for adults up to age 26, children in families with limited incomes (CHIP), and Medicare for people who are over 65 or have disabilities.