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Enrollment under the Affordable Care Act has turned out a lower number than expected.

So far, out of the 20 million enrolled, 12 million enrolled into Medicaid and 8 million enrolled in a private plan.  What is interesting is that 11 million folks decided not to enroll and pay the fine. It was assumed that Obamacare was supposed to completely take over the individual market by providing an easy, competitive, and cheaper shopping experience. So far it hasn’t quite done that. We’re looking at minimal subsidies with high premiums and extremely high deductibles. The doctor networks that participate in Obamacare are also becoming narrower.
The participation from insurance companies that offer health plans has also been dwindling. Many of the larger insurers have incurred massive losses since the outset. We will soon see many of these insurers pulling out of the exchange all together throughout different states. This will mean fewer consumer choices of plan designs, and in turn, higher premiums. The idea of the young and healthy population joining the market to in-turn subsidize the costs of and older, sicker population has not materialized.  Many people are avoiding the exchange all together and incurred fines for being uninsured.
So, what can you do as an individual to find the plan you need? There are a couple ways we can help. Give us a call today to see what advice we can give and what type of a plan may work for you.