Fall is not just the time when children go back to school; it also means that enrollment under the Affordable Care Act is right around the corner. Beginning October 1, people without health insurance, including 10.2 million Latinos, will be able to enter the new health care market to compare prices and plans and get coverage. No one plans to get sick or be injured, but most people need medical attention at some point. Health insurance covers these costs and protects you against overspending.
With enrollment starting in less than a month, this is an excellent opportunity to review some of the critical components of the Affordable Care Act and the health insurance marketplace that are important to know by October 1.
How does the health care law affect me?
- You now have access to more comprehensive preventive services such as checkups, cancer screenings, mammograms, and birth control at NO additional cost if you already have health insurance.
- Young adults, including nearly a million young Latinos, can now stay on their parent’s health insurance plan until age 26.
- Many seniors will save hundreds of dollars each year on their prescription drugs.
- Health insurance companies will no longer be able to deny you coverage or charge you more as a result of a pre-existing health condition, including pregnancy or disability.
- Starting in 2014, most people will need to have health insurance coverage. If they don’t, they may have to pay a fee.
- If you need help finding a plan, several types of assistance are available to give you one-on-one help with the process.
What is the new health care market?
The Marketplace, also known as the insurance “exchange,” is a new and easy way to find health coverage that fits your budget and meets your needs. You can see all of your options and sign up with one application. You can make comparisons in an online marketplace in the same way you would buy cell phone plans or airline tickets. This tool will help you save money on your monthly private health insurance premiums, and you can find out if you qualify to lower your out-of-pocket costs. You can learn more about the new health insurance market through live chat online or by calling toll-free, seven days a week, 24 hours a day at 1-800-318-2596.
How can I save money with the health insurance marketplace?
You can save on health coverage in three main ways:
- You can probably save money on your monthly premiums by enrolling in a private health plan because ALL plans will cover essential health benefits and pre-existing health conditions.
- You can also lower your health care costs because you may qualify for reduced out-of-pocket expenses such as copays, coinsurance, and deductibles.
- Your children may be able to get coverage through Medicaid or the Children’s Health Insurance Program (CHIP). Some states will expand Medicaid eligibility in 2014, so your children may be eligible, even if your family has previously been denied such benefits.
Whenever possible, be sure to use in-network providers for all of your health care needs. If you have certain doctors and facilities you’d like to use, make sure they’re in your plan’s network. If not, maybe it would suit you
