How To Guide For: A Look At The Obamacare Rate Increase -- What Does This Mean & How Will It Aff

What is Obamacare? Obamacare (the Affordable Care Act) is a US healthcare reform law that expands and improves access to care and curbs spending through regulations and taxes.The main focus is on providing more Americans with access to affordable health insurance, improving the quality of health care and health insurance, regulating the health insurance industry, and reducing health care spending in the US. So now that we know what Obamacare is lets discuss the latest changes that will be taking place starting next year. An announcement was made on Monday October 24th by the federal government stating that Obamacare premiums would rise 22% next year. Since it will increase next year, what should individuals know for the enrollment period for 2017. The first thing to know is that The Affordable Care Act mandated that insurance companies may not deny insurance to or charge more for people with existing conditions. This will allow everyone access to health care plans. Another thing to keep in mind is that the enrollment period opens up November 1, and plans are available on HealthCare.gov. To access coverage effective on Jan. 1, consumers must decide on a plan in the coming weeks. It is expected that the last day to register for a 2017 health plan is January 31, 2017. This rate increase is too much too fast. From 2015 to 2016 the premiums increased by 7.5%. So why 22% for 2017. There are economic and financial reasons that explain the rate increases. But this will still ultimately affect the consumers. So for those thinking about enrolling in Obamacare you have to start making decisions now since the last day to register for a 2017 health plan will be January 31, 2017. To get more in depth information on the Obamacare rate increase and what this means and how it will affect consumers --- click the pictures below to read the articles.