It's almost time to register for insurance coverage for 2019 under the Affordable Care Act. Registration opens November 1 and ends December 15. In breaking from last year, premiums are not expected to rise for 2019 and, for some, can decline.
Registration times are limited, so the Clarion Ledger adheres to a list of things you need to know to make sure you are insured.
What is the Affordable Care Act?
ACA, commonly called Obamacare, is a market for insurance. Set in 2010, ACA is intended to make health care more affordable. According to health.gov, "The law provides consumers with premium subsidies or tax credits that reduce the cost of households with revenues between 100% and 400% of the federal poverty rate."
What is needed to register?
Those who want to register can visit www.healthcare.gov. The website will take you through a series of questions that ask for your basic information including the zip code, the number of people in your household and the income expected from you for 2019.
You will then be directed to the insurance package available to you and can choose which one is right for you and your household.
Open registration is only open once a year but you can register during special registration if you are married, have a baby or lose your current health insurance.
Remember, you can enroll in Medicaid or the Children's Health Insurance Program at any time of the year.
Who can get insurance under the ACA?
Legitimate citizens or residents in the United States can obtain health insurance through ACA and no one can be denied insurance based on their medical history. For a complete list of those entitled to coverage, visit https://www.healthcare.gov/immigrants/immigration-status/.
How much it costs?
That depends on the plan you choose. According to the Kaiser Family Foundation, entering 2018, the average insurance company tends to increase rates more than necessary. By mid-2018, insurance companies in the individual market are on average doing quite well financially, so many cannot justify another year the increase in premiums goes into 2019. Therefore, despite the lifting of individual mandate penalties and expansion of plans that are more loosely regulated in the year 2019, premiums in most of these countries tend to be flat or decline relative to 2018.
Will I be punished if I don't have insurance?
Not. To encourage healthy people to register, the ACA is used to impose penalties for those who do not have health insurance. However, effective in 2019, Congress removed the sentence as part of the tax reform law.
The Kaiser Family Foundation notes, even though there is no penalty, "it's important to have coverage if you are sick."
How long will I be covered if I register?
That depends on the plan you choose. Short-term coverage is available, with plans to provide coverage from three months to 364 days. However, according to the Kaiser Family Foundation, short-term policies are medically borne and the rejection of "the possibility of people with pre-existing conditions" for the policy. Short-term policies also include less than plans that are in accordance with ACA.
Also, if you lose your short-term policy, it does not "trigger a special registration period." Some countries prohibit short-term policies or apply ACA rules. Mississippi is not one of those states.
I am an employer. How can I help my employees?
According to a recent survey by UnitedHealthcare insurance company, 77 percent of Americans said they were ready for open registration. However, only 6 percent of survey respondents managed to define the four basic concepts of health insurance: package premium, deductible, co-insurance, and maximum out-of-pocket. Talk to your employees about their choices and make sure they know what insurance your company offers.
source: www.clarionledger.com/
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