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Get Health Insurance Fast to Save Money

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health insurance-obamacareNew Year 2014 has arrived and has brought in some compulsions for every American. But these compulsions are good because they take care of everyone’s health. These are posed by an act and though it is commonly called ObamaCare its original name is Patient Protection and Affordable Care Act, 2010. The name is suggestive that it is for reforming healthcare and it was changed to ObamaCare by President Obama’s critics, though the President liked it because according to him it shows that he does care. I said that the New Year has brought some compulsions, because the act makes it necessary to have health insurance in 2014, or get penalized. So, now it’s time to search for free Obamacare and other insurance quotes!

The main aim of ObamaCare is to provide more Americans an access to affordable health insurance and thereby enhance the standard of healthcare and health insurance, control the health insurance industry and reduce the expenditure on healthcare in the US.

The act was signed on 23rd March, 2010 and it offers Americans plenty of new rights, benefits and protections regarding their healthcare and aims at establishing a health insurance marketplace where American citizens can purchase federally controlled and subsidized health insurance.

How Can You Save Yourself from A Penalty?

As said earlier, if you don’t have a health insurance in 2014, you have to pay a tax. The sooner you enroll for a health insurance, the sooner the coverage begins and you are saved from paying a tax. If you enroll for a health insurance anywhere between 24th December and 15th January, your coverage will start from 1st February. If you enroll between16th January and 15th February, your coverage will start on 1st March. And if you lag behind till after 15th February, your coverage won’t commence before 1st April. So, if you haven’t any health insurance now, it’s a long time to go with no coverage.

The Penalty

If you don’t have a health insurance in 2014, you have to pay a fee of $95 per adult and $47.50 per child, or 1% of your income – whichever is more. The penalty will increase every year. You can qualify for an exemption to this penalty. If you enroll by 31st March, 2014, you need not pay the penalty for any month before your coverage starts.

What Can You Do?

A good point in all this is you are free to choose your own health insurance provider. You can get quotes and buy an insurance which you like. Some states run their own marketplace, while in some others, the marketplace is operated by the Federal Government.

How Can You Be Considered Covered?

If you have Medicaid, Medicare, CHIP, any plan bought by yourself, any job-based plan, COBRA, TRICARE, retiree coverage, VA health coverage, or some other types of health coverage, you will be considered covered.

So, start searching now for the best health insurance, if you are not insured yet. It is in your own interest to get medical help on time and in an affordable manner.

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