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Obamacare 101: What We Need To Know?

It has been a big week for health care coverage in the US as the new online marketplace officially opened for business under Obamacare. You may not yet have had time to study up on what you need to know when you finally sit down this week to go over the details.
It has been a big week for health care coverage in the US as the new online marketplace officially opened for business under Obamacare. You may not yet have had time to study up on what you need to know when you finally sit down this week to go over the details.

There's been so much rhetoric about the President's Health Care Plan, no wonder many of us still have a lot of questions.  Here is a study guide as you sit down to do your healthcare homework.

Question #1 - I've heard that if you won't have healthcare from any source that you get fined and I wanted to know what kind of fine you would get? How much it is?

For the answers, we went to Health Care Expert Sara Rosenbaum, "In the beginning the penalty cannot exceed $95 dollars.  The fine goes up in later years and can be as much as $700 dollars at a minimum.

Question #2 - For those who have not had insurance, what's the process and how do they go about applying?

"If it's a state exchange, you can simply go through healthcare.gov to your own state exchange.  If you happen to live in one of the 34 states that is using the federal exchange, then you will be directed to the enrollment site."

If you can't get online, get outside.  There are now assistance programs at community health centers where you can enroll in person.

Question #3 - I don't make enough money to actually afford Obamacare, so what happens to me? I'm living paycheck to paycheck.

"Everybody who's eligible for insurance through this new system also can check to see if he or she qualifies, or the family qualifies for a subsidy."

A family of 4 making less than $94,000 and a single making less than $46,000 qualifies for a price break.  Good luck studying.  The final test will be in March when open enrollment ends.
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