Most Commonly Asked Questions about Open-Enrollment and ObamaCare
You hear about it on the news, radio and standing around the office water cooler, yet Open Enrollment still remains a mystery. Who can enroll, when is the deadline, how do I enroll, and what’s it going to cost are all vital questions that need answers.
Since the beginning of Obama’s second enrollment period in November, the Pettineo Insurance Agency has received a barrage of questions from South Florida residents interested in learning more. The following includes the key questions and answers involving the Open Enrollment policy.
When can I enroll?
Many are under the impression that the beginning of the New Year marks the end for open enrollment, but this is not the case. Obamacare open enrollment period began November 15 and ends on February 15.
What is the difference between on exchange and off exchange plans?
Health insurance markets are also referred to as exchanges. With the advent of Obamacare, many are questioning what is difference between an on exchange plan and an off exchange plan? The main difference between the two exchanges involves financial assistance. On the Exchange plans are plans that are eligible for financial assistance. If you are earning less than 400% of the poverty line, an on the exchange plan may be the option for you.
Off the exchange plans can be purchased directly from a broker or insurance carrier, (such as Pettineo Insurance Agency) these plans meet the requirement of the Affordable Care Act (aka Obamacare). Pettineo Insurance Agents can assist you with navigating the different off exchange plans to find the coverage that is best for you and your family.
What is the difference between an HMO and a PPO?
When choosing your health plan, you have a lot of options available. The two most common are HMO and PPO plans, both use a network of physicians, hospitals and other health care professionals.
With an HMO plan you have one primary care doctor and that doctor must provide a referral if you wish to see a specialty doctor. For example, perhaps you have bad migraines. Prior to going to a neurologist, you must go to your primary care doctor who will give you a referral to a neurologist.
HMO is typically less paperwork and lower health care costs.
With a PPO plan you have the flexibility to go to any health professional you wish without a referral. You can also go to a doctor outside of your network. However, staying within your network results in a smaller copay and full coverage.
Overall, if you wish to have a greater flexibility and happen to see a lot of specialists (i.e. dermatologists, neurologist, urologists, cardiologist) a PPO plan might be a better fit for you.
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Pettineo Insurance Agency has been provided health care insurance for over 30 years in South Florida. To learn about our different health insurance options visit our website at http://pettineoinsurance.com/health_insurance.html
