Almost 11000 new people sign up for health insurance

Maybe buy a big TV. Even small businesses that don’t meet the requirements for health insurance can offer something in the form of benefits to employees.

Take it from another millennial: Think about insurance if you don’t have any.

More than three million USA residents have signed up for health coverage through the federal and state exchanges so far during the Affordable Care Act’s third open enrollment period, Modern Healthcare reports (Dickson, Modern Healthcare, 12/9).

“What we’re trying to do is bring in other elements of the community that aren’t always part of the health conversation, but should be”, said Bob Atkins, director of the foundation’s New Jersey Health Initiatives program. That’s because those few remaining on the grandfathered plans tend to be sicker, older and in smaller risk pools. “The federal government is initially reimbursing 100 percent of the cost of covered services for all newly eligible enrollees, including inmates”. For more information, go to www.njhi.org.

Another driver for federal marketplace enrollment in Utah has been the shutdown of one and discontinuance of two other local plans previously offered to consumers. You can’t be denied coverage for a pre-existing health condition.

This health insurance program remains much debated – both houses of Congress recently passed a law to repeal Obamacare, although the president is certain to veto it and the veto will probably not be overridden. Are you shouting “No!!” here?

Under the law, the tax penalties will increase next year. While this money isn’t given directly on the employee’s paycheck, it is essentially used to pay for premiums that would otherwise come out of the employee’s pocket. The subsidies are available for single people earning up to about $47,000 per year. There are bronze, silver and gold plans, and many tiers within each.

Private insurers including Anthem Inc, Aetna Inc and UnitedHealth Group Inc are among private insurers selling plans on HealthCare.gov, and who have said they are losing money on the business. That might cost you, too. And this time, that will be a hard deadline. Consumers must pay either $695 per person ($347.50 per child under 18 with the maximum penalty per family of $2,085) or 2.5 percent of your yearly household income in 2016, whichever penalty is greater. In October, Consumers’ Choice announced it would not sell marketplace plans anymore, forcing those customers to re-consider their choices for 2016 coverage. But when you’re looking at (middle-income) earners, it’s a different story. This is an important consideration for many people buying subsidized policies through the exchange, as their deductible will be more than the annual premium. Not all plans are structured the same, and they can be hard to compare.

Before the ACA, many rural Americans struggled to find affordable health care, paying almost half of all medical costs out of their own pockets. Once you’ve picked a plan level, you’ll need to dig into the options.