There are 48 million Americans that don't have health insurance, and as of October 1st, that will all change.
Natick, MA (PRWEB) October 01, 2013
There are 48 million Americans that don't have health insurance, and as of October 1st, that will all change. That day marks the first day of open enrollment under "Obamacare" where uninsured Americans can now enroll in affordable health care coverage through the health insurance marketplace.
By March 2014, all Americans will need to have some sort of health insurance or face annual fines. Here's what uninsured Americans need to know to find a good plan and avoid hefty fines:
Taking Their Time: Open enrollment lasts from October 1st through March 31, 2014 so there's time to compare and find the plan that is right. Enrollment in a plan through private marketplaces can happen at any time. Those without insurance should consider getting a health insurance quote from multiple providers and ask questions about coverage and costs.
Avoiding Fines: The only way to avoid a fine in 2014 is by enrolling in a health insurance plan. Although not enrolling in a plan may be a viable option for some. For the young and healthy, the cost of the fine will likely be less than the cost of health insurance. If there is a medical issue for someone who opted out of getting a plan, they will have to pay for it entirely out-of-pocket. The fine in 2014 is $95 per adult and $47.50 per child (up to $285 per family), or 1% of income, whatever is higher. For a family of three earning $51,000 per year, the fine would be $510. That fee increases in 2015.
Understanding the law: Before selecting a plan, people should be familiar with the nuances of the Affordable Care Act by reading about it at Healthcare.gov.
One a budget is created, all financial documents gathered and there is solid understanding of the options, uninsured Americans should head over to the Insurance Marketplace to request a quote or call 1-888-233-2104. They can also visit each state's web site for local resources and information pertaining to their particular health insurance marketplace.
Launched in 2013, Insurance Marketplace's mission is to get affordable insurance coverage to everyone. InsuranceMarketplace.org is a privately held company based in Natick, Mass.