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Obamacare Insurance Enrollments

Open enrollment in the health insurance exchanges beginTuesday, Oct. 1st. It's the first opportunity to shop for comprehensive health care plans under the Affordable Care Act (aka: Obamacare). What does this mean for you? More in this clip.

Open enrollment in the health insurance exchanges beginTuesday, Oct. 1st. It's the first opportunity to shop for comprehensive health care plans under the Affordable Care Act (aka: Obamacare). What does this mean for you? More in this clip.
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It's been four years since the Affordable Care Act, also known as Obamacare, was signed into law. Now the day is finally coming when it'll be put into action. Open enrollment in the health insurance exchanges will begin on Tuesday October 1st. It'll give you the first opportunity to shop for comprehensive health care plans, but you won't have to make any changes just yet. One of the primary concerns about Obamacare has been from people who feel that they don't have enough information. But for the 48 million Americans without health insurance, learning about how they can get health care is extremely important. The Congressional Budget Office estimates employers will provide insurance for 60% of Americans in 2014, and that another 12% will be covered by Medicare or the Children's Health Insurance Program. "I get insurance through the company I work for. My insurance won't change. I'm just going to add stuff to it if I want to through my company or take stuff away. It wouldn't matter to me," said Steven Travis, who works in Harrison County. But for Americans who will need to enroll in the health care exchanges, they can do that at healthcare.gov. The website will allow those who need insurance to shop online for the plan that best fits their needs. Every insurance plan will offer free preventive care. Some plans will have a higher deductible while others will have higher co-pays depending on the plan. "They're going to be able to shop just like you shop for an airline ticket or a flat-screen TV and see what's the best price for you," said President Barack Obama. You can even calculate the cost of your new health care plan thanks to the subsidy calculator on the Henry J. Kaiser Foundation's website. The calculator can determine how expensive your plan will be based on your income, tobacco use, size of your family, and yearly income. It will also determine if you are eligible for any government subsidies or tax credits. Many plans would cost about $1,200 per year, which would be about $100 per month. Many Americans will be eligible for subsidies and tax credits because the new health care plan will allow people and households making up to four times the federal poverty level to get these tax credits. For people who do not get insurance, there will be a penalty in each household based on the size of the household. If you want to enroll in a plan that starts on January 1st, you can enroll anytime between October 1st and December 14th to get a plan that goes into affect on January 1st, 2014.

Open enrollment in the health insurance exchanges beginTuesday, Oct. 1st. It's the first opportunity to shop for comprehensive health care plans under the Affordable Care Act (aka: Obamacare). What does this mean for you? More in this clip. Do More... For Less with the Money-Saving Tips & Videos on SpendLessTV.com - Get More for Your Money, and Your Life!