Want answers to some great questions about Obamacare? Here are 10 of them that will help you better understand how it works – and the best part is that they are answered in 25 words or less!
Does the employer that I work for have to provide health insurance?
No, it does not. Large employers do if they do not want to pay a penalty for not offering insurance, though.
In 2014, will buying insurance become easier?
Hopefully, since, plans are becoming more standard and tiered and the costs will be clearer.
If I am on Medicare, can I still shop the exchange?
No, Medicare is not one of the participants and gap coverage is not done through the exchange.
Will employers cut back on the amount of insurance coverage being offered?
They are doing what they can to cut back on costs; some will change plans while others are using defined contributions.
If I am a small business, do I use the exchange to cover employees?
You do not have to, but it is an option. There is no requirement for small businesses to offer insurance.
If the employer is offering coverage, can I still use the exchange to find something better?
Yes, you can use either one but you might not be eligible to use a subsidy.
If I buy my own coverage, do I have to use the exchange to do so?
No, you can get coverage through wherever you’d like. You can only get the subsidies on the exchange, though.
What do I do if I cannot afford the coverage premiums?
There are many subsidies that are available for those struggling to meet the premiums; even if they don’t cover it all, they can cover some.
Can I wait until I actually need the insurance to sign up for it?
No, you have to have the insurance before anything happens so make sure to check the enrollment period.
What happens if I miss the enrollment period?
If the event that caused you to miss the enrollment was one that qualifies, you might be able to sign up late. If not, you have to wait for enrollment to open back up.