Friday, November 6, 2015
Commonwealth Fund Survey Finds People May Be Choosing the Wrong Obamacare Plan
Shopping for health insurance can be a baffling maze of unfamiliar terms and puzzling acronyms — premiums, deductibles, PPOs, HMOs, POS. The Affordable Care Act, also known as Obamacare, added new elements that can heighten the confusion: Consumers have to navigate four different levels of plans, determine what subsidies they’re eligible for based on their income and calculate what plan would work best for them over the coming year.
That’s why some Obamacare shoppers who signed up through healthcare.gov have chosen plans that cost too much.
One major problem that experts at the Commonwealth Fund have identified is that some health care shoppers are unaware of the subsidies they are eligible to get if their income is between 100 and 250 percent of the federal poverty level ($11,770 to $29,425). . .