One of the big questions people in Oregon are asking is about the cost of health insurance after “Obamacare” Oregon (the Affordable Care Act) takes full effect January 1st, 2014.
First, if you’re not familiar with the different types of Cover Oregon Plans… check out our post on that. That’ll show you the different levels of coverage options that will be available once Cover Oregon opens up October 1st, 2013.
[NOTE: Cover Oregon is the new health insurance marketplace set up for Obamacare (the Affordable Care Act) here in Oregon. Learn more about Cover Oregon. ]
Here’s a quick short video with our take… and more info below the video to spell it out a bit.
See this video on YouTube, click here: http://www.youtube.com/watch?v=qiot0RrUdqU
How Much Will Your Health Insurance Cost?
There’s speculation and even some data that suggests that health insurance premiums will go up as a result of the Obamacare requirement that everyone have at least the bare minimum health insurance coverage. Plus, preventing insurance companies from denying coverage to someone because of a pre-existing condition may raise premiums for everyone.
But, all of this right now is just a guessing game and we won’t know the impact of Obamacare on our health insurance costs here in Oregon for a little while.
The aim with creating the health insurance marketplaces in each state (Oregons is called Cover Oregon and it opens for business October 1st, 2013. Get on our Email or Text Notification List to get a reminder sent to you when you can apply for insurance.) is to create competition between the insurance companies.
Since health insurance companies who choose to offer insurance plans through Cover Oregon are required to offer “standard plans” (Bronze, Silver, Gold, and Platinum)… it’s meant to make it easier for you to compare plans… since they’ll be very similar… and meant to create competition to keep prices down.
Will You Qualify For Payment Assistance?
The majority of families will quality for some sort of government payment assistance for your health insurance. People with incomes low enough may qualify for all or a large part of their premiums to be paid for by the government. A family of 4 who doesn’t smoke with a household income of up to about $94,000 will qualify for some payment assistance.
Check out our calculator to see how much assistance you may qualify for.
What To Do Next?
First, as new updates come out that will effect your health insurance and as dates come up that you should know about… we’ll send those on our Email and Text Alerts List quick notes to let you know what’s going on… and to remind you when you can apply for coverage through Cover Oregon if that’s the route you want to go. So, join our Email and Text Alerts list here << It’s free and we won’t hassle you with spam. Just occasional emails and reminders on the health care law info that may affect you and your family.