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Got Insurance? What You Still Need to Know About Health Care Reform

Got Insurance? What You Still Need to Know About Health Care Reform :: Mint.com/blog

You may have an understanding of what health care reform means for the uninsured, but do you know how it affects you if you already have health insurance?

Whether you have  health insurance through your employer, parent, or are self-insured, here are five facts you should know about how health care reform impacts you:

[Read: What You Need to Know About Obamacare]

If You Have Coverage for 2014

Since you are already covered, you don’t have to worry about purchasing health insurance by March 31, 2014.

If you have employer-provided insurance, you can keep your current insurance; you aren’t required to take any action and you will not be subject to penalties as long as you still have health insurance in 2014.

When Open Enrollment May Apply to You

You may replace individually purchased health insurance.

You are free to change your individual health insurance plan by shopping in the Health Insurance Marketplace.

[Read: 6 Important Facts About Obamacare]

If your plan ends before March 31, 2014, you can change your individual plan during open enrollment in the marketplace starting October 1, 2013.

If You are Under 26 Years Old

If you’re under 26 years old, you can remain on your parent’s insurance plan.

You can stay on your parent’s plan even if you’re married and not living with your parents.

Are You Entitled to New Protections?

You may be entitled to new protections under the law, including:

-       Health insurance companies are now required to cover people with pre-existing conditions.

-       Insurance companies will be held accountable for rate increases.

-       Many health plans will be required to cover free preventative health care like mammograms and other health care screenings.

[Read: Prepare for Obamacare With This ACA Checklist]

If You Have COBRA

If you have COBRA continuation health insurance, you can switch to a plan offered in the Health Insurance Marketplace.

If you left your job and have COBRA continuation coverage, you have the option to purchase health insurance through the Health Insurance Marketplace.

Do you have specific questions about how health care reform impacts you?

Get health care reform answers from experts in the TurboTax community.