*Open Enrollment for Obamacare commences November 1st 2015
Choosing a health insurance plan in SC, NC, FL or GA isn’t a piece of cake. With the introduction of health care reforms in the shape of the Affordable Care Act, or Obamacare as it is commonly called, many things have changed, and for those who still won’t take interest can be left with the bad end of the deal. Instead of automatic enrollment to a plan, make sure you have learnt everything and made your own decision to reap the greatest rewards. Here are three things to consider when revising or choosing a health care plan:
1. Anticipate Your Needs
Policies vary by minor differences but you have to be smart about your current and future needs. Anticipate what you must have in a plan and which can pay off in the near future. For example, if you have plans to start a family, you must have maternity coverage in your plan. While you cannot foresee an accident or illness, you can do your best to choose the optimal mix that will provide you coverage.
2. Know Your Out-Of-Pocket Costs
Any plan that you choose will show you the out of pocket costs or those that you will have to bear. It is important to understand and know these costs, as it will help you put the prospective plan into perspective. These out of pocket costs are called coinsurance and copays. If you do not know your share, you could be paying lot more than you anticipated for a treatment.
3. Check Your Drug and Network Coverage
You want to make sure that the plan you select provides drug coverage and especially includes those that your regularly take. The doctors you will be able to see after you have selected a plan will only be those included in that specific network, so make sure that if you have a personal favorite specialist or hospital it’s included on the network of the plan you are considering buying.
Make sure that you benefit from the coverage you are choosing whether on your own or through your employer; otherwise it can be a waste of your money. ACA aims to make healthcare easier and affordable so read through the fine prints before settling on a plan.
The information in this article is not intended as tax or legal advice, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek tax or legal advice from an independent professional advisor. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by ACA Express.
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