Will Rising Obamacare Rates Affect You?
John Samuels
Founder + CEO of Wellworth, a health advisory firm helping family offices and high net worth individuals navigate healthcare.
This New York Times piece takes a look at the recently-announced changes to Obamacare plans for 2017. Will you be affected by the rate changes? You could be, but only if you have an individual health insurance policy. As this article explains, “Most people are unaffected by the rate increases because they get their insurance through an employer or are covered through government programs like Medicare, Medicaid or the Department of Veterans Affairs.”
To find out whether the costs of your health insurance plan will be changing in 2017, visit your state exchange website. (Enter your zip code on this healthcare.gov page if you’re not sure where to start.) Check if your current plan is still being offered next year, and see how the cost compares to the other plans available to you.
If you’re shopping for health insurance for the first time, here’s how to compare the costs of different plans. The healthcare.gov site explains the difference between the Bronze, Silver, Gold, and Platinum plans, as well as how the various network types work. The open enrollment period starts Nov 1, and extends until January 31, 2017. To start a new plan or change your existing plan, enroll by December 15 to make sure your coverage begins on January 1, 2017.
Better Health Advisors was created to make a complex healthcare system simple. With over 20 years of healthcare experience, we offer personalized advice and support to people of all ages and health conditions. To learn more about what we can do for you or your company, visit our website at Better Health Advisors, or contact us at [email protected]. If you know someone who is facing a healthcare challenge, please give them my private number (646) 883-9717.