Health Insurance Cancellation Paused for Another Year

health care exchanges

Many Americans who received health insurance cancellation notices from their insurance companies can relax temporarily now that President Barack Obama is allowing non-compliant insurance policies under the Affordable Care Act (ACA) to remain in place for another year.

However, for those shopping now, knowing what to expect from the health care exchanges and how to choose a good plan is an important part of making the most of this change in the American health care system.

Health Care Exchanges Still Offers Choices

The Washington Post reveals that the Healthcare.gov website probably won’t be working perfectly by the Nov. 30 deadline, but there’s no reason to fear a lapse in health insurance coverage thanks to the cancellation extension.

Despite the technical difficulties users have experienced, the system is seeing slow but steady improvements. Members can now register, complete and submit their applications through the site, as well as look through available plans via the health care exchanges.

Unfortunately, purchasing plans — although possible on the website — is still a painful part of the process, with issues stemming from difficulties integrating Healthcare.gov with insurer websites.

Worth the Wait: Health Insurance Savings

Enormous savings are available for some individuals shopping through Healthcare.gov; this is especially true for the self-employed.

Mike and Annette Heacoxe of Sacramento are self-employed workers. In an interview with the Los Angeles Times, Annette shared that upon browsing the site, they found that they could save as much as $900 a month compared to their previous insurance plan, which costs them $1,100. This level of savings is certainly worth taking the time to navigate the system, especially for those looking to cut costs dramatically on health insurance coverage.

In addition to the choices available through the exchanges, Healthcare.gov shoppers may also be eligible for state-sponsored health insurance if their income levels drop, rather than the plans available through the exchange.

Consumers shopping for these plans would also be wise to check that their doctors are considered “in-network” under the state-sponsored health plans to avoid having to seek out a new physician.

While there are certainly some growing pains with the changes under the Affordable Care Act, Americans who are wary of health insurance cancellation notices can rest easy for another year thanks to the recent extension.

(Photo: Austen Hufford)