Obamacare Explained or 20,000+ pages condensed down to 500+ words!

Since Obamacare was enacted, the health insurance world has been turned topsy-turvy with dozens of important changes already in play and with many more coming right around the corner. Obamacare gets very real for millions of citizens this fall when “Open Enrollment” begins on October 1st. With no medical questions, health insurance may finally be in the reach of millions currently uninsured. But most Americans are still very confused about just what Obamacare is and what is in it for them. So let’s quickly explore some of the options.

Option 1: Ostrich effect – keep your head in the sand and do nothing; it is all a bad dream and will go away if ignored long enough. This may not be a brilliant idea considering millions of folks will probably qualify for a subsidy and be provided with better coverage for less money starting Jan 1st, 2014. But free-thinking Americans can be very obstinate when facing change.

Option 2: Take a plan or pay the tax – commonly referred to in government-speak as “Play or Pay”. Well you can run, but you can’t hide. The IRS is one of the government agencies mandated to uphold the law and if you file a tax return you will have to state your selection – do you Pay or do you Play? But you say, I heard the tax is only $95/year per person, capped at 3x the family size, etc., etc. Yes, early on the tax is minimal, but as the years roll by, up and up it goes, where it stops nobody knows. One way or the other the government always gets its money and you still have no health insurance protection.

Option 3: I’ll just pay the tax and get health insurance when I need it – Brilliant minds do all think alike! Sorry, that option never existed. If you elect to go without health insurance and miss Open Enrollment (Oct. 1st through March 31st, 2014) you are out-of-luck until the next Open Enrollment period. You cannot buy your health insurance while the lights are flashing and you end up in the ER on a gurney. You and the hospital will have to settle your differences out of your wallet when the bills fly.

Option 4: The Xchange! – Here in Florida, thanks to Governor Scott, there will only be one Xchange and it will be hosted by the feds. So just what is it? Well in theory when Open Enrollment starts you can conveniently log in to a “secure” federal site, choose your metallic plan (Platinum, Gold, Silver, Bronze, etc.), fill out an online application submitting your personal information including Social Security number(s), state your income if known and Voila’ you are insured. If only it were that easy. The simple truth is this, plans can be bought on and off the Xchange, from many different outlets and from numerous compliant carriers. No matter how or where you purchase your plan take the easy route and find a competent health insurance agent to advise and help you through the process. Their service is at no cost to you and if something goes wrong or you have questions, which you will, you will NOT have to call 1-800-HELPME and sit endlessly on the phone trying to understand the person on the other end of the line.

In summary it is impossible to break down and easily explain Obamacare in a short, simple, article. The law is still being written and rewritten as is evident when the large employer mandate recently was postponed until 2015. But the train keeps rolling along and millions of unsuspecting Americans are standing on the tracks unwittingly waiting to get run over. Find someone you know, like and trust that works in the health insurance industry and have them guide you through the details. You will be glad you did.

This article courtesy of Capt. Rob Hamilton, Licensed Insurance Agent, Smart Healthy, Inc.

For more information visit the official government website: www.healthcare.gov