If you’re confused about Obamacare, you’re not alone. Over the past several years, every survey on the subject has revealed that Americans consistently fail to correctly identify the provisions that are actually in the Affordable Care Act. In April, a poll found that 40 percent of Americans weren’t sure about whether Obamacare was still law at all. Administration officials are racing against the clock to reverse those incorrect public perceptions, ramping up their outreach efforts before the health law’s new state-level marketplaces open for enrollment this upcoming week. As the open enrollment period draws near, you may be wondering how it affects you or what you need to do. 1. Will Obamacare end up costing me money?
It depends, but probably not as much as you’ve heard on the news. If you already have insurance through your job, Obamacare probably won’t directly affect your monthly premiums — and could actually end up saving you money in the long run by eliminating your co-pays for preventative care, like regular check-ups and STD screenings. If you don’t have insurance, on the other hand, you’ll be eligible for a plan on Obamacare’s new marketplaces and you’ll have to pay a premium for it. That’s more expensive than paying no monthly premium, but arguably cheaper than going uninsured and having to pay out-of-pocket for all of your health services, plus the penalty for not getting insurance. Depending on your income (and whether or not your employer offers an insurance plan), you could receive federal subsidies to help cover part of that premium. 2. What if I already have health insurance?
The big changes under Obamacare mostly affect the Americans who don’t already have insurance. If you already have health insurance through your job, Medicare, or Medicaid nothing about that will change. You’ll continue to have the same plan and it will continue to be administered in the same way. (You should receive a notice from your insurance company explaining whether or...
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