Whether you are a first-timer or re-enrolling for health coverage through the marketplace under the Affordable Care Act/Obamacare, you are bound to have some questions regarding enrollment. Following are the four most frequently asked questions.
Will re-enrolling in a new plan be a hassle for me?
The only way to change your health plan is through the marketplace. If you had questions about enrollment during the last marketplace period, this is the first and most important thing to understand. Numerous people contact their insurance companies to change marketplace plans under the Affordable Care Act. However, your agent or insurance carrier cannot make changes to the plan you purchased through the marketplace.
Work directly with the carrier you purchased your current plan from, or contact the marketplace if your circumstances have changed or you just want to buy another plan. Ensure you confirm the effective date of your new plan before you cancel your current plan in questions regarding enrollment.
Will I receive federal assistance automatically this year if I had it last year?
You should check a box allowing the government to verify your income, ensuring continued federal assistance for up to five years. If you purchased your plan on the Marketplace last year and qualified for federal assistance, this step is crucial. You might lose your assistance if the government cannot verify your eligibility. Visit the Marketplace during the Affordable Care Act/Obamacare open enrollment to adjust your application if you’re unsure whether you checked that box.
What if my insurance provider sent me a notice saying my plan will no longer be offered?
You might need to make another selection if your insurance carrier no longer offers your plan or has withdrawn it. In such a scenario, check whether you need to choose a new plan or if your carrier already has questions regarding enrollment you in another one. Some insurers automatically direct you to a similar plan. You don’t need to take any action if you are satisfied with the new plan they selected for you, but you are free to choose an alternate plan. Research thoroughly, as each insurance company handles withdrawn plans differently.
When choosing a plan, what things do I need to take into consideration?
Making a checklist of everything you need from your health plan is an important thing to do. Match what you can genuinely afford to pay for your health care out of pocket. You may ask yourself the following questions:
- Is the geographic location of the hospitals and doctors in the network convenient for me?
- Does the network include my doctor?
- Does the list of covered prescriptions include the medication I need?
- What would my health care truly cost me?
While determining your “true healthcare cost,” consider factors such as copays and deductibles along with the premiums; you won’t pay only the premiums. Considering all these factors helps you choose a health insurance plan under the Affordable Care Act/Obamacare that best meets your healthcare needs.
