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Here’s what you can do if your insurer is abandoning Obamacare.
Talk to your doctor -- now. Your physician is most likely in the midst of negotiations with various networks right now. He or she knows how things will play out during open enrollment. Find out now if you may need to change health plans to stick with your physician or if he or she will be staying with the remaining carrier(s) in your area, Carpenter advised.
Remember, you still have options. Even if you only have one choice of exchange insurance carrier, keep in mind you still have a choice of plans from that carrier. Insurers offering plans on exchanges are required to offer both “silver” and “gold” coverage, and most offer a “bronze” plan as well. Even with only one insurer, you’ll need to consider which level of coverage -- high deductible, preferred provider and so forth -- is right for you, said Cynthia Cox, associate director, health reform and private insurance at Kaiser Family Foundation.
Check your subsidy qualification. Be sure to go back online (healthcare.gov) and reenter your financial and household information, Cox said. Your income and family circumstances can change from year to year, and that can affect whether or not you receive financial assistance.
Prepare to incur out-of-pocket health care costs. They are rising for just about everybody. If you find out from your doctor you’ll need to be going out of network to continue care, try to estimate how much more that will cost you in terms of higher premiums for a flexible plan and higher co-pays. Also, take a look at the medicines you take. Will those still be covered by your limited choice of plans? If not, how much will you be paying for prescriptions? Finally, with fewer choices you may need to move to a higher deductible plan, again costing you more out-of-pocket. Budgeting now for these costs can help make the coming year’s health care costs less of a surprise.
Look beyond the exchange. Some shoppers may find more options in the private market, Cox said. If you know you aren’t eligible for a subsidy, this may be a good idea. Just be sure to make sure the plans you are looking at meet the minimum requirements of the health law, including no exclusions for pre-existing conditions. The compliance terms should be spelled out in plan materials, but if you have questions ask your insurance broker or potential carrier.
Obamacare orphan? Here's what you can do - CBS News
Talk to your doctor -- now. Your physician is most likely in the midst of negotiations with various networks right now. He or she knows how things will play out during open enrollment. Find out now if you may need to change health plans to stick with your physician or if he or she will be staying with the remaining carrier(s) in your area, Carpenter advised.
Remember, you still have options. Even if you only have one choice of exchange insurance carrier, keep in mind you still have a choice of plans from that carrier. Insurers offering plans on exchanges are required to offer both “silver” and “gold” coverage, and most offer a “bronze” plan as well. Even with only one insurer, you’ll need to consider which level of coverage -- high deductible, preferred provider and so forth -- is right for you, said Cynthia Cox, associate director, health reform and private insurance at Kaiser Family Foundation.
Check your subsidy qualification. Be sure to go back online (healthcare.gov) and reenter your financial and household information, Cox said. Your income and family circumstances can change from year to year, and that can affect whether or not you receive financial assistance.
Prepare to incur out-of-pocket health care costs. They are rising for just about everybody. If you find out from your doctor you’ll need to be going out of network to continue care, try to estimate how much more that will cost you in terms of higher premiums for a flexible plan and higher co-pays. Also, take a look at the medicines you take. Will those still be covered by your limited choice of plans? If not, how much will you be paying for prescriptions? Finally, with fewer choices you may need to move to a higher deductible plan, again costing you more out-of-pocket. Budgeting now for these costs can help make the coming year’s health care costs less of a surprise.
Look beyond the exchange. Some shoppers may find more options in the private market, Cox said. If you know you aren’t eligible for a subsidy, this may be a good idea. Just be sure to make sure the plans you are looking at meet the minimum requirements of the health law, including no exclusions for pre-existing conditions. The compliance terms should be spelled out in plan materials, but if you have questions ask your insurance broker or potential carrier.
Obamacare orphan? Here's what you can do - CBS News
