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 you can change your health plan is on the marketplace if you enrolled through the market place last time around, and this is the first and foremost thing you need to know. There are numerous people who contact their insurance company to change the plan they got through the marketplace under the affordable care act. It is important for you to know that your agent or insurance carrier does not have the authority to 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 if you just want to purchase another plan. Make sure you confirm the effective date of your new plan if you plan to purchase a new plan before cancelling your current plan.
Will I receive federal assistance automatically this year if I had it last year?
You should have been asked to check a box allowing the government to verify your income hence getting continued federal assistance for up to the next five years, provided you purchased your plan on the Marketplace last year and qualified for federal assistance. You might lose your assistance if your eligibility is not verified. Visit the Marketplace during the affordable care act/Obamacare open enrollment to make the adjustment if you’re not sure whether you checked that box on your application.
What if my insurance provider sent me a notice saying my plan will no longer be offered?
You might be asked to make another selection if your plan is no longer offered by your insurance carrier or has been “withdrawn”. In such a scenario, check if you need to choose one or if your carrier has already enrolled you in another plan. You are automatically directed to a similar plan by some insurers. You don’t need to do anything if you like the new plan selected for you while being free to choose an alternate plan. Make sure you do your homework as each insurance company handles their withdrawn plans differently.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”, you need to consider factors such as Copays and deductibles in addition to the premiums; the premiums aren’t the only thing you will pay. Taking all these things into consideration will help you choose a health insurance plan under the affordable care act/Obamacare that meets your health care needs best.