This is a blog loaded with information, for you to consult whenever you have questions about enrollment for insurance under the Affordable Care Act (ACA), popularly known as Obamacare. Follow with us…
What is Obamacare?
The ACA Law (Affordable Care Act) was enacted in March 2010 with the aim of reducing medical costs for people through the subsidy or tax credit provided by the government health fund.
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When will the 2023 Open Enrollment Period for Obamacare begin?
Each year the period opens on November 1 and closes on December 15. On this occasion the period will be extended until January 15, 2023. Please note that you must apply by December 15 for your plan to start on January 1, 2023. If you sign up between December 16 and January 15, your insurance will be effective from February 1, 2023.
What to do to enroll or renew your plan for 2023?
If you have an Insurance Agent, contact him for renewal.
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Benefits of the health market
Regardless of plan level and cost, all Obamacare plans include 10 essential health services:
- wellness services and preventative care
- labs
- prescription drugs
- urgency and emergency
- hospitalization
- maternity and neonatal
- outpatient services
- mental health services
- rehabilitation
- pediatrics
Pre-existing conditions are not a limitation to be accepted into Obamacare.
Advantages of the health market
Getting health insurance privately, directly with an insurance company, can cost thousands of dollars in premiums alone. When you buy insurance from the health market, these premiums are reduced (and in many cases the cost is zero dollars) thanks to the tax credit. That is, thanks to the part that the health market pays the insurer for your insurance. Herein lies the first and great advantage: you are protected by very low costs for you.
What should you know about insurers and plans?
Florida Blue, Ambetter, Cigna, Oscar, Molina, Aetna, are some of the insurance companies that offer coverage through the Health Market.
Members can choose, depending on their county of residence, from a wide variety of Bronze, Silver, Gold and Platinum level plans, as well as the type of Provider Network (HMO, PPO, OPS, EPO). All health market insurance covers the same medical care, the difference between them lies in the way in which the insured and the insurer share medical expenses and the type of network selected.
How and when to apply?
Each year during Open Enrollment (November 1 to December 15), if you meet the eligibility requirements, you can enroll in a health plan for the following calendar year. The open enrollment period for 2023 will run through January 15, 2023.
It is also possible to enroll in the Health Market during the rest of the year (Special Enrollment Period) if you experience life changes such as moving, loss of medical coverage, marriage, divorce, the arrival of a child, and acquiring legal immigration status, among others.
To be eligible for Health Market insurance, you must reside in the United States, be a US citizen or have legal immigration status in the country (you cannot be incarcerated). Annual income and household composition are also requirements to qualify.
What information is needed to enroll?
It is quite simple. You only need to provide the following information to enroll in Obamacare:
- Household composition (number of people, ages and who wants to apply)
- Household income for the year in which you will have coverage
- ZIP Code of your area of residence
What information can you consult before and after registering?
You can prepare and inform yourself before you register. Below is a list of topics you can or should find out about before and during your coverage period. Keep in mind that not knowing some of them could mean that you lose your insurance at any time of the year:
- Plans and prices
- How to apply
- How to send the requested documents
- Dates and deadlines for 2023
- Check if you qualify for a Special Enrollment Period
- How to pay your premium
- If you can change or cancel your plan
- What health benefits are covered by the plan
- How to save money on enrollment and your premiums
- Cost Sharing Reductions
- High Deductible Health Plans
- How to estimate income
- Who to include in your household
- Types of income: what to include
- How to choose a plan