Health care coverage under the Affordable Care act has benefited millions of Americans by providing them with affordable, quality coverage. Some people under the coverage have even gotten insurance for the first time. It is important to consider some facts about healthcare insurance coverage under ObamaCare before enrolling.
Your State does not matter
Regardless of which state you are a resident of, you can get health care coverage in the open enrollment under the affordable care act. While the open enrollment in some states is run by the state itself, others have the federal government running it for them. Whatever the case may be your eligibility is not subject to the state you live in.
Health insurance is run by private insurance companies
All the plans offered in open enrollment under the affordable care act/ObamaCare are run by private insurance companies.
All health Plans offer the same set of essential benefits
Some essential health benefits are covered by all health insurance plans offered under the Affordable Care Act/ObamaCare. These benefits include ambulatory services, emergency services, surgery, maternity services, prescription drugs, pediatric services etc.
Compare your out-of-pocket Costs before deciding to enroll
You must compare your out of pocket costs under each plan available in open enrollment before enrolling. Out of pockets costs are costs that you pay in addition to the premiums so it is important to know how much you would be paying out of pocket under each plan.
Each plan requires you to pay a different out-of-pocket amount based on your facts about healthcare insurance. Under the gold and platinum plans you would be paying a lower out of pocket cost while you would be bearing a heavy out of pocket cost under the bronze, gold and silver plans.
Pre existing Conditions do not result in ineligibility
A popular myth is that pre existing conditions like cancer or diabetes make you ineligible for healthcare coverage under Obamacare but this is not true.
Special enrollment period and savings for reporting changes in Life
Reporting life changes under the facts about healthcare insurance coverage under ObamaCare is important because it may make you eligible for a special enrollment period for healthcare coverage or additional savings. You should report these changes as soon as possible. Losing a household member or experiencing an income increase will reduce the savings you currently receive. If you don’t report these changes, you may have to pay the difference when you file your federal tax returns.
On the other hand, adding to your household size or experiencing a decrease in income could increase your savings. You may qualify for reduced monthly premiums or gain eligibility for coverage under Medicaid or CHIP.
Getting dental coverage under the plans
Some health care coverage plans include dental coverage. When you compare plans during open enrollment under ObamaCare, make sure to check which plans offer dental coverage.
You need to consider many other factors before enrolling in health care coverage under the Affordable Care Act/ObamaCare, but the points mentioned above are the most important to keep in mind.
