How to Choose an Obamacare Plan
Promising to “fix the damage done by Trump,” President Biden signed an executive order that opens a 90-day special registration period under the Affordable Care Act for people who can sign up for health insurance.
How to apply
The enrollment period begins February 15 at Healthcare.gov , an insurance marketplace serving 36 states. The remaining 14 states, which operate their own marketplaces, are expected to open student recruiting as well, according to the White House. Links to their marketplaces can be found here .
Obamacare gains momentum
The new open enrollment period will be eligible for all Americans without the need for a ” qualifying life event ” such as unemployment or marriage. (Those who already have a health plan through ACA can change their coverage.)
Through the Centers for Medicare and Medicaid Services, the White House will also launch an aggressive advocacy campaign, spending $ 50 million on broadcast and digital advertising, and direct marketing to consumers (studies show many consumers are not even aware of the annual opening). enrollment period at the end of the year). An information program will also be organized to help consumers with their applications, although the exact details are not yet clear, according to Health Financial News .
As part of the executive order, President Biden also directed federal agencies to study and improve policies that:
- Undermine the protection of people with pre-existing medical conditions, including the complications associated with COVID-19.
- Reduce or disrupt the health insurance market or other health insurance markets.
- Make it more difficult to participate in Medicaid and ACA.
- Reduce the availability of insurance coverage or financial assistance, including for dependents.
Choosing a plan
Rates vary by state and insurer, and ACA-qualified plans have categories known as the metal level (bronze, silver, gold, and platinum). Bronze plans have the lowest premiums, but deductibles and surcharges are higher (deductibles are typically around $ 6,500 per person). Gold and Platinum plans may have higher premiums but lower out-of-pocket costs.
About 15 million Americans are uninsured and will be eligible for insurance in the market, according to a recent report from the Kaiser Family Foundation . Of that number, nearly nine million people were able to receive free or subsidized bronze exchange plans under the Affordable Care Act during the enrollment period. Many people who qualify for the Bronze plan are also eligible for a discount on participation costs, which for some people also makes it possible for some people to participate in the reduced silver plan at a reasonable rate. Use this calculator to find out if you are eligible for ACA.
A bronze plan is better than no plan at all, even if you never spend an extra high deductible, as the plan will still cover basic health care costs in the event of unforeseen emergencies.
However, not all plans offered on the open market are the same. When shopping, stick to the marketplace websites and make sure the proposed plan complies with ACA regulations and offers all ten categories of medical benefits that are listed here .