Mangaboy84

so sitting here planning my wedding and getting my life sorted out in America with my SS card, DL, Banking, etc, following Trump's win is it still worth getting onto the ACA website and selecting my health insurance policy while i still can?

I would guess even if he does repeal the PPACA all that would happen is the medical insurance company would either let my policy run for the full year then cancel it or offer a new policy option and cancel the excisting one immediately no doubt with a price jump.

Pulaski

Well President Trump doesn't take office until January, and the US health insurance system works on calendar years, with "open enrollment" going on right around now, so the chances of anything changing before the end of 2017 are virtually zero IMO.

kins

Once you've selected your policy, you buy it directly from the insurance company anyway. All the exchange does is show you what policies are available and help you calculate what subsidy you might get.

So once you've bought your policy, the exchange is out of the picture anyway.

Does that help?

kodokan

Small tweak - you have to go back through the exchange to cancel it, if you get other coverage mid year.

nun

Use the system as it now exists, so get an ACA plan. Your access to insurance and its cost will probably greatly depend on where you live, so if you live in MA and have an ACA plan and it's abolished, MA will go back to RomneyCare so you might not see much change. In other states the situation could be a lot different.

kins

I didn't know that - thank you :-)

scrubbedexpat099

Nothing happens that quickly.

kodokan

And you have to give 14 days notice; they can't (won't...) cancel any quicker than that. My 14 days ended at month-end, so I don't know how it works for refunds.

Asg123

For some people, they have to keep going back and forth between the exchange and the insurer, notifying the exchange and providing documents each time their income changes, and if the system doesn't work well it can be an extremely difficult process. There are ways of avoiding the difficulties, but the applicant isn't automatically told them, he has to find out for himself.

Steerpike

I would say get a plan, if needed. You don't want to be without insurance.

Further, there may be 'grandfathering' elements to any cancellation, so having a plan may put you in a better position.

Note also - if you don't need / don't qualify for a subsidy, you don't need to go through the 'exchanges' at all. I got my plan directly from Cigna, even though it was an ACA-compliant plan. The only reason you MUST go through the exchanges is if you want a subsidy. The great thing about the exchanges, though, is they offer a single place to see many competing options. But there are options available that don't show up on the exchanges.

drew&venna

Get it. Nothing will change until at least Jan 2018, and what will change after that is up for debate - taking away healthcare for 20 million people would definitely effect people in senate districts where Senators will be up for re-election Nov 2018.

Harveyspecter

I had a quick look at the ACA site and for where I currently am (WA), for my wife and I (both 34), it gave a monthly premium from $357 - $913 depending on your deductible. Does this sound about right? I remember Pulaski noting once that if you are young and in good health it is worth getting the lower monthly premium and 'risk' paying a higher deductible should you need treatment. So say I were to go that route, does $350-$400 sound about right? Dental was an extra $37-$79 per month.

Hoping to get a job soon which will include ins but I'm just checking all my options.

kodokan

Divide the deductible by 12 - does it roughly match the difference in premiums? Do you have enough money in savings to cover the deductible if you needed to due to a sudden ill health event in January? (Although I understand many doctors and hospitals will work out a payment plan if not.)

Assuming that all looks ok, then great! You're in a 'heads you win, tails you don't lose' situation. Hopefully you'll remain healthy, and bank the difference each month. Is the low deductible plan HSA-compliant? If you can afford to fully fund a HSA, this can be a considerable saving depending on your marginal rate of tax.

Harveyspecter

Great info Kodokan, I'll look into it. Thanks!

MarylandNed

If you don't have health insurance, you'll be subject to a fine.

https://www.healthcare.gov/fees/fee-...being-covered/