We are in the middle of the open enrollment period for health insurance so everyone should register to be covered for 2016.
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This year, those who were uninsured paid either $325 per adult and $162.50 per child, up to a maximum of $975, or 2% of their income, whichever was greater. According to research from the University of Minnesota, premiums are 13% lower in areas where there are the most brokers, compared with those with the fewest. A recent study by Families USA found one-quarter of consumers who bought their own health insurance in 2014 skipped medical care because they couldn’t afford it, and high health insurance deductibles were often to blame. Of consumers returning this year in Tennessee, 87 percent could save an average of $726 a year for similar coverage, they said.
One question that remains is why more people haven’t gotten health insurance.
“There are 40 plans, so it’s kind of confusing if you’ve never had a plan before”, said Jayme Simoes, a spokesman for Covering New Hampshire.
Replacing the old policies, which pre-date Obamacare, will save most customers money on premiums, the insurer says. And, without insurance, you will be financially responsible for all of your medical costs.
During a conference call last month, President Barack Obama said government data showed six in 10 people didn’t know that tax credits were available to help them purchase health insurance.
Emily Brostek, executive director of Consumers for Affordable Health Care, an Augusta-based health advocacy group, said the ACA outlawed high-deductible plans and plans that discouraged people from accessing preventive medicine – such as preventive screenings, primary care visits, and mental health and substance abuse treatment.
Under the law, the tax penalties will increase next year.
Hempstead encourages consumers to use online tools like out-of-pocket cost calculators, and to get free professional advice from insurance brokers. After that enrollees through the health exchange risk a gap in coverage and a tax penalty. Insurers have been critical of the unpredictability caused by these special periods – which are also offered for people in a variety of situations, such as those who move out of state, marry, divorce or lose their job. Financial help is available through HealthCare.gov and picking a plan and signing up for coverage is now easier than ever – you can even enroll on a cellphone. About 9.9 million USA residents were enrolled in exchange plans as of October, but that number likely will drop to 9.1 million by the end of 2015 (California Healthline, 11/30). “But lot of people will wake up on Wednesday and think that they can get their coverage to start on January 1, which will be kind of a shocker moment”.
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The foundation also said that the average penalty would be much higher, an average of $1,450, for uninsured households that aren’t eligible for Obamacare subsidies because their incomes are too high.
