What the New Obamacare Laws Mean to Health Insurance Rates

Tuesday, April 09, 2013

You have probably heard about the Affordable Care Act that President Obama signed into law on March 2010 and that is now best known as Obamacare, a law that will enforce health insurance for all American starting in 2014. However, it is also a controversial plan that is still receiving quite a bit of criticism and nonconformity from citizens afraid about how the Obamacare will affect the insurance rates they are actually paying or those that they will have to pay if they are not already carrying this type of insurance.  In some states like California the health insurance costs are already skyrocketing.

Is Obamacare Really Reducing Health Insurance Cost?
After the federal review of Medicaid and Medicare in 1965, Obamacare is the major overhaul that a government has made to the health care system. Obamacare is supposed to reduce the overall cost of your health insurance and provide people with financial disadvantages the aid to pay for it. However, this regulation is going to be mandatory for all, therefore, there are many people that question how health insurance costs will be lowered as there is no significant indicator on the average insurance pricing that health insurance companies offer.

Coping with the Price of Paperwork

On the other hand, under Obamacare it is supposed that you can gain access to health insurance with ease, but if you want to apply for the federal program, the tedious paperwork makes you pay the price in valuable time that you will have spend to do all the paperwork and follow the steps that the application requires. This is the same for those seeking financial aid or that that simply desire the benefits that Obama offered for the regular citizen.

New Rules for Health Insurance Plans
Insurers are no less confused than consumers, ignoring if actual policies should expire by the beginning of the next year or if they should extend actual consumers' plan to lock actual pricing. The only well-known fact is that the Obamacare health care reform law prohibits any discriminatory act against consumers with a pre-existing condition that want to get a health insurance plan. Other than this, actual health insurance policy holders are uncertain what the benefits are that are supposed to be exchanged as Obama promised.

Is Affordable Health Insurance the Solution?
When it comes to paying low prices for health care, getting affordable health insurance is supposed to be the solution to pay the lower possible premium for your health care policy. However, we have already mentioned the hassles involved to apply for it and the problem remains the same or even worsening with the insurance companies that have begun to raise their premiums since Obamacare was signed, promising to keep going up once health insurance turns mandatory.

Research Ahead On Time
Whether you have already taken out health insurance or considering to buy it, start researching on the rates that insurers are asking for, compare them with those that the federal information center is managing and try to get the best deal only after you have learned enough to make an educated decision to go with it.


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