The Affordable Care Act promises to expand access to health care by providing affordable coverage to millions of Americans. But finding a policy that meets your health care needs and your budget requirements can be daunting.
Now the good news: Shopping for health insurance is about to get easier.
For starters, the new state-based health insurance marketplaces created by the Affordable Care Act provide consumers with a “one-stop shopping experience to easily compare the costs and benefits of plans,” says Kevin Lucia, senior research fellow at Georgetown University’s Center on Health Insurance Reforms. These marketplaces will offer tax credits and subsidies to people with low and moderate incomes.
To ease the shopping experience, insurers must now provide a summary of benefits and coverage along with a standardized glossary of medical terms. “When comparing plans, think about the health care services you use or anticipate using and the financial ramifications of not having access to the services and providers you want,” said Lucia.
Among the factors to keep in mind when shopping for an affordable plan-
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