Open enrollment for health insurance under the Affordable Care Act and Healthcare Gov opens on November 1st, 2017 and ends December 15, 2017. But because there has been so much confusion regarding health care plans, many have been wondering exactly what they should expect.
Will Health Insurance Rates Increase?
Premium increases are going to be seen throughout many regions, but these increases will also be balanced out by subsidies by those who have suitably low income. Because of this, it will be virtually impossible for individuals to determine whether or not they will be paying more until they are actually able to log into the Healthcare.Gov website and perform a search. For the most part, those with low income should be able to qualify for low-cost healthcare in the 2017 enrollment period as long as they are not in a state with a Medicare gap. However, those with middle-class incomes and higher may see their premiums increase.
Is the ACA Going to Continue?
Though Healthcare.Gov is a part of the ACA -- which is currently under fire --, this should not impact the premiums that are signed up for during the open enrollment period. When insurance is acquired through the marketplace, it will be acquired for that term; even if the affordable care act is repealed during the coming year, the insurance plans will still be considered to be valid until the end of their term, provided that the premiums are still paid.
This makes health insurance more important for those who have previously existing conditions or expensive healthcare costs, as these plans may not be available in the future. Alternatively, healthcare costs in general may also increase in the coming years as subsidies may be slowly phased out.
Though no one can be certain exactly what is going to happen to the ACA, it's still advisable that those who can get health insurance acquire it during the open enrollment period. However, they may need to be vigilant as a reduced enrollment window, and reduced funding may make actually acquiring insurance a little more difficult. For more information about acquiring health insurance and the health benefits available to you, contact the experts at Value Plus Insurance.