In 2011 I suffered a major traumatic event.
Being in the hospital sure woke me up as to the importance of having healthcare. With the new healthcare law all of us Americans can have adequate coverage for our entire families.
However, we are running out of time. It is very important that if you haven't signed up for healthcare coverage, that you do so before March 31st.
Consumer Reports has put together a wonderful site to help guide us all during this confusing time.
I know I was overwhelmed at the amount of information available regarding the healthcare law.
Now you can get guidance from one of America's truly unbiased organizations-Consumer Reports.
They have compiled helpful info in both English and Spanish.
Here are three reasons you should sign up before March 31st:
Three Reasons You Should Sign Up for Obamacare
Before March 31…
The Affordable Care Act
(ACA) has brought major changes to health insurance for consumers.
You probably already know
some of the highlights: that insurance companies can no longer turn people down
or charge them extra because of pre-existing conditions; young adults can stay
on their parents insurance until age 26, and there are no more lifetime limits
on insurance policies.
But for people who are
uninsured or have to buy their own insurance (versus getting it from your
employer or Medicare), there are important facts about the new law that you may
not know. The new state-based Health Exchanges are open now, but with Open
Enrollment ending in March, it’s important to learn how these facts could
affect you.
Here are three important reasons you should enroll
before March 31:
After March 31, you can’t get covered by health
insurance until next year
Unlike previous years, the
majority of consumers will only be able to purchase private health insurance
during the annual Open Enrollment Period. Except for specific, special
circumstances, you can only buy coverage for this year until March 31, whether
you’re shopping through your state’s Health Insurance Marketplace or outside
it. This is a big change from the past.
You are still free to
change your health plan every year if you want to, but you have to wait. Open
enrollment for next year will commence on Nov. 15, 2014 and run through Jan.
15, 2015. But coverage purchased during this period will only kick in January
1, 2015 at the earliest. Simply put, if you don’t enroll by March 31, 2014, you
won’t be covered by insurance until at least January 1, 2015.
What constitutes a “qualifying life event” to
change your coverage outside of Open Enrollment? Consumers will be given 60
days to make a change if they are:
• Having a baby or a change
in their marital status.
• Losing their existing
plan, for instance by leaving a job.
• Having a change in income
that makes them newly eligible or newly ineligible for tax credits to lower the
cost of your premiums
• Moving to another state.
• Having an increase in
income that makes them or a family member ineligible for Medicaid or CHIP.
• Becoming “lawfully
present” in the United States by getting a green card or other long-term
non-tourist visa.
• Getting out of jail.
What’s doesn’t qualify? Getting sick and suddenly
needing urgent health care. That’s why it’s so important to get covered now.
You
may be passing up free money for their health insurance.
More than three-quarters of the people who have purchased a plan through
their Health Insurance Marketplace will be receiving financial assistance in
paying their premiums, according to the Department of Health and Human
Services. It’s quite possible that you could be one of them.
Depending on your family size and income, you may
be able to lower your monthly premium through a tax credit called the “Advance
Premium Tax Credit.” For example, a family of 4 with an income up to
approximately $94,000 would qualify for help. Without checking,you could be
passing up this money to help pay for insurance. For a quick, easy way to see if you could
qualify visit Consumer Reports’ HealthLawHelper.org.
Note: if your income is low enough, you or your
children may be eligible for government-funded Medicaid and CHIP programs for
lower-income Americans. These programs are exempt from open enrollment and you
can sign up at any time.
Waiting until the last minute may leave you
scrambling
Enrollment in new
insurance plans has dramatically increased since the initial website hiccups
but there are still millions of consumers that need to review their options and
you don’t want to get caught up in the last minute shopping frenzy.
Plus, if you care about
getting coverage started before May 1st you’ll need to take action
sooner. Insurance plans purchased after March 15 may leave you waiting until
May 1 for that coverage to kick in. The delay results from the two weeks needed
to process applications and insurance plans tend to start on the 1st
day of the month.
We also advise having
plenty of time, even a few days, to make your decision. Depending on where you
live you may have several different plan options to pick from with varying
deductibles, co-pays, networks of doctors, and monthly premiums. It’s important
to review those options carefully, not in the 11th hour before open
enrollment closes.
NOTE:
Consumer Reports has a range of independent and unbiased health insurance
experts who are available to advise and answer questions on Obamacare 7-days a
week.
I know I am passing this information to all my friends and loved ones. Please help us spread the word.
Have a great Monday!
xoxo
Patty
this is a sponsored post, however all opinions are my own.