What do you need to apply for Obamacare?
The Federal Government created a simple application process for Obamacare health plans. Applicants can use state exchanges or Healthcare.gov to start the process. Comparison shopping is an excellent tool for finding the value of a plan. Comparison shopping can focus on the features that matter most to the individual or family situation. Start comparing health insurance rates now by using our FREE tool above!
How to apply for Obamacare
The application process for new or renewal coverage under Obamacare is simple and for convenience it can be done completely online. One should gather personal information including names, phone numbers, employment, and income. It is important to remember that comparison shopping can help find the best fit for the individual or family needs. When applying, consumers will need certain information to start the process. During Open Enrollment, applicants will need the below-described information
- Accurate personal information including legal name, address, phone, and marital status
- Personal information for all household members
- Annual income from all sources
- Social security number or another unique identifier
After Open Enrollment
The Open Enrollment period for coverage in the calendar year 2016 runs from November 1, 2015. through January 31, 2016. The Open Enrollment is the authorized period for sign up to a new policy, renewal of an existing plan, or changing a plan. Life events include the below-listed items.
- Marriage or divorce
- Birth of a child or adoption
- Loss of insurance as dependent
- Loss of insurance from loss of a job
Where to Apply
Consumers can apply at the federal website or the state-sponsored health insurance exchange in the District of Columbia and the sixteen governments that created marketplaces. Anyone can apply during Open Enrollment from November 1, 2015, through January 31, 2016. The site offers phone assistance with attended assistance locations and mail or email follow-up for documents.
Four Ways to Sign Up
Consumers can apply four ways; they can apply online, by phone, by paper application, and in person at Marketplace sign-up locations. Consumers can use private insurance agents and also go directly to insurance providers to get quotes and information on coverage options. When considering Obamacare, the federal government and many experts recommend looking at all of the marketplace options including private insurance.
Basic Information for Obamacare
The initial application for Obamacare coverage requires nothing more than basic file information to identify the applicant, set income, and describe the family unit. This information initially consists of name, address, and telephone number. Identification uses a unique identifier like a social security number.
These go to set the plans available and the eligibility for tax subsidies for premiums or payment assistance.
The information on the form connects to data on file with the federal government or state, if in DC or one of the states using a state health insurance exchange.
State of Residence Determines Plans
Available plans depend on insurer plans and government approvals. Insurers must present plans that apply to a state or part of a state. They include terms of coverage and prices. When accepting or rejecting a plans and price, the area of service is a vital consideration. This government review includes factors such as the prices for services, whether they are available and accessible, and the expected demand. Therefore, every state has a different set of plans for residents to choose.
Income determines premium benefits
The income limit for receiving subsidies and payment relief benefits is 400 percent of the poverty line. The law adjusts the income amount for family size. Those with incomes higher than that level cannot qualify. Similarly, those with incomes below a certain level do not qualify for health insurance through the exchange. Incomes lower than 138 percent of the federal poverty line do not qualify for health insurance through Obamacare. Reviewers routinely refer these applications for assessment under CHIPs and Medicaid.
Obamacare benefits for premium assistance and payment help depend upon a comparison of annual income with the federal poverty guideline. A household consists of the individual making the application and others that live as a family unit. One should include any person that one will list as a dependent on the annual tax return for the year for which the insurance would run, the calendar year 2016.
Income is a critical factor for determining subsidies and assistance under Obamacare. Persons who earn more than 400 percent of the federal poverty guideline amount will not receive financial benefits. They can shop and buy on the federal and sate exchanges without subsidy.
Nearly ninety percent of Obamacare enrollees got financial assistance, the exact figure was 87 percent. One in six got coverage for under $100 per month. Financial assistance requires incomes between 138 percent and 400 percent of the federal poverty guideline.
Compare for Value
When considering health insurance through Obamacare, consumers should consider all of their options. They should include those options for insurance coverage outside of Obamacare. The essential health benefits and policies of the Affordable Care Act apply to all insurance plans and providers. When assessing the strengths and weaknesses of various plans, it is important to remember comparison shopping helps find the best value. The best assessment for health plans is comparison shopping centered on the needs of the applicant. The focus on foreseeable needs is an excellent way to determine the value of a plan. Start comparing health insurance rates now by entering your zip code in our FREE tool below!