With the end of the year comes open enrollment season for health insurance.
Five years since Obamacare was created, insurance websites created by state and federal governments are getting easier to navigate and consumers are becoming more informed about choices, said Dave Smith, State Farm insurance agent in Clarkston.
But the process is still complicated. Even if you are using an insurance agent, get informed beforehand, Smith advises.
“If consumers are not informed, the process may take hours. I recommend spending an hour or two getting up to speed and learning about health insurance. An informed consumer is more valuable to themselves,” Smith said.
The government Health Market Exchange, found at healthcare.gov, was created for U.S. citizens not currently insured to sign up for health insurance. Those already enrolled in Medicaid or Medicare program cannot use the Health Insurance Marketplace to switch plans, supplement insurance, or join a dental plan.
Penalties for not enrolling in a health plan are 2.5 percent of income, or $695 per adult and $347 per child, whichever is greater. To avoid fines and receive credits, consumers must sign up by Jan. 31.
According to the Affordable Care Act, Obamacare, if insurance offered by your employer is considered “affordable,” you cannot turn the plan down and get government tax credits or help paying insurance premiums.
Those offered insurance at work can use government websites, but will pay full price unless insurance offered by their employer does not meet certain standards.
Plans vary by co-pay and deductibles and offer more coverage for specific services.
Licensed insurance agents can help clients navigate health insurance plans, but the same information is available online at healthcare.gov. There, individuals, families, and small businesses can sign up and see if they qualify for tax credits and financial assistance for help with insurance premiums.
Health insurance purchased through the government marketplace must cover certain services such as preventative care, pre-existing conditions, dental, birth control, breastfeeding and mental health services.
Low-income individuals and families can get help with insurance costs. Dec. 15 is the last day to sign up to be covered by Jan. 1, and Jan. 31 is the last day to sign up for 2016 unless you have a life change, or lose health coverage.
Those qualifying for assistance can get a Premium Tax Credit, offered in advance to help residents make premium payments, or other financial help.
For more information, check Healthcare.gov, Healthinsurance.org, and Enrollmichigan.com.