‘Tis The Season For Obamacare Shopping

On Saturday the Obamacare exchanges will reopen for the second year of the Affordable Care Act’s open enrollment period.  This year, the shopping season is limited to three months (ending Feb. 15, 2015).  If you are planning to shop for 2015 coverage for yourself or your family, you should act quickly.  Below are three tips:

1. Window Show At Healthcare.gov. The new and improved federal site lets you see what your options will be.  However, you cannot purchase coverage until after open enrollment begins.
2. Work with a Health Insurance Broker. A professional may be able to help you find less expensive and more appropriate coverage than you would find shopping the federal or state health exchanges.  Brokers are well equipped to discern what your needs.
3. Avoid Owing the Penalty for Foregoing Health Insurance. This year, if you did not have health insurance, you generally owe a penalty of $95 per person or 1% of your modified adjusted gross income.  However, for 2015, the penalty will triple at $325 per person or 2% of income. 

See Richard Eisenberg, 3 Tips For Obamacare Health Insurance Shopping, Forbes, Nov. 12, 2014.