Starting in 2014, the Affordable Care Act, or Obamacare, requires carriers to offer new categories of health insurance plans.
No two people are the same and neither are their healthcare needs. Learn about benefits and coverage options and how to choose an insurance plan.
The open enrollment period for 2014 plans is October 1, 2013 through March 31, 2014.
Coverage for plans enrolled in before December 31, 2013 should begin on January 1, 2014. For those enrolling after December 31, 2013, coverage will begin the month following enrollment.
Starting in 2014, insurers can no longer reject you based on Pre-Existing Medical Conditions.
HealthPocket examined what medical services were most commonly excluded from health plan coverage in 2014 and compared these results to the most frequent exclusions within the pre-reform health insurance market.
Prescription drug coverage is now included with all new health plans in the individual & small group markets under the Affordable Care Act. However, in a study conducted by Healthpocket, metal plans averaged a 34% increase in copayments and co-insurance fees compared to the pre-reform market.
National averages on deductibles and out-of-pocket caps can be misleading if used for local health insurance plan shopping. Consumers are advised to examine their local health plan options carefully, judging cost-sharing individually rather than based on a plan’s particular metal tier category. Failure to follow this advice could result in some unpleasant surprises with respect to deductibles and out-of-pocket expense limits.
The Affordable Care Act, also known as Obamacare, is approaching the finish line in the form of the Open Enrollment Period‘s conclusion. While various aspects of Obamacare were implemented before this time and more will be implemented afterwards, the Open Enrollment Period serves as a measure of progress for the Affordable Care Act. Pundits, politicians, […]
In today’s highly politicized discussions of health insurance costs, the degree to which inefficient insurance company operations contribute to higher costs is often overlooked. High start-up expenses and considerable staffing requirements to meet regulatory burdens have discouraged entrepreneurs from entering the market with disruptive technological innovations and more efficient processes. Oscar Health Insurance aspires to […]