Open Enrollment Starts Oct 1, 2013

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Navigating the Marketplace
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Navigating the Marketplace

When Can I Sign-Up for an Obamacare Health Insurance Marketplace Plan

Big changes are coming to the health care and health insurance industry. Since 2010 when the Affordable Care Act was signed into law, health care reform has received a lot of attention from the media and lawmakers. The Affordable Care Act is a federal statute that was signed into law in March 2010 as a part of the healthcare reform agenda of the Obama administration. Signed under the title of The Patient Protection and Affordable Care Act, the law included multiple provisions that would take effect over a matter of years, including the expansion of Medicaid eligibility, the establishment of health insurance exchanges, and the prohibition of health insurers from denying coverage due to pre-existing conditions.

If you currently do not have health insurance, you will soon be required to obtain a health insurance plan no later than January 1, 2014. You can begin to sign up for an Obamacare Health plan when the Obamacare Health Insurance Marketplace opens on October 1st, 2013. The Obamacare health insurance marketplace, or Obamacare Exchanges, are State or Federal online marketplaces for health insurance. American residents will be able to use the affordable Insurance Exchanges to buy health insurance from private health care providers. Shoppers can use a price calculator to find the best deal for them and their family. The health insurance exchange is estimated to provide up to 23 million people with affordable health insurance. The coverage that you sign up for beginning in October, 2013 will become effective on January 1, 2014.

The Obamacare health insurance marketplace will allow all Americans above the poverty line to be able to sign up for health insurance through providers (who meet the standards of Obamacare) via an online market place. Each health care provider will try to attract customers by providing affordable quality health care packages. Consumers will be able to compare coverage options using an online calculator to figure out which plan is right for them. There will be three tiers of plans you or your employer can sign up for on the health insurance exchange. The plans will range from lower quality, but more affordable "Bronze plans", to "Silver plans" to a more expensive plan with better coverage called a "Gold plan". There is also a "Platinum plan" which is the highest quality and cost plan. Lower premium plans will have higher deductibles.

Before you sign up for an Obamacare health plan, you should research the options in your state, and analyze what you can afford to spend on premiums. In the past it has been hard to change your health insurance plan. If you have health insurance through your employer, you could usually change your health insurance plan only during the company’s open enrollment period, or if you had a qualifying life event such as getting married or divorced, having a baby, or losing your job. This all changes when Obamacare goes into effect and the health insurance marketplaces are open for enrollment.  Obamacare will restructure the way healthcare is delivered, and we will all feel the changes.

Take  a proactive approach and utilize our free experienced health insurance navigators to help you pick the best plan that meets your budget.  The options are complicated and the devil is in the details.  We recommend that you do not simply shop on price, since you often end up with a plan that is not what you expected.  Call us today at 1-800-831-3270 or click the Get  A Quote button next to this article to start the no risk process.  
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