We're months away from cutting the ribbon on the new online marketplace for health insurance, but the vast majority of uninsured Americans — the very people the Affordable Care Act is meant to help — still have no idea whether they'll be in the shopping mood or not.
According to a recent survey, nearly two-thirds of uninsured Americans say they haven't decided whether or not they'll buy health insurance by the Jan. 1, 2014 deadline (even though they'll have to pay a penalty if they don't).
Another 10% say they flat out won't buy in at all.
We understand the hesitation. Change is hard enough when it's simple to understand, let alone when it has to do with things like insurance, health care policy, and your own financial and personal well-being.
"People just don't understand how this is going to affect their wallet, what prices are going to be and what this could really cost them," said Laura Adams, InsuranceQuotes.com senior insurance analyst.
Here's what you need to know:
1) What is this new health care exchange all about?
The health care exchange (aka The Marketplace) is the centerpiece of the Affordable Care Act, an online marketplace where consumers can shop around for health care plans, just like auto insurance. All 50 states will have their own marketplaces, some of which will be run by the federal government and some of which will be run by individual states.
Delays notwithstanding, the marketplace opens on Oct. 1, 2013 and people will have until Jan 1, 2014 to pick up a policy if they want to escape penalties. There, you'll be able to choose from four different varieties of plans, platinum (highest benefits), gold, silver, and bronze (lowest benefits).
(Excerpt) Read more at businessinsider.com ...
