How to Choose an Obamacare Health Insurance Plan

Hey guys it's Kaitlyn here the Frugal Millennial so if you're like a number of Millennials out there you might not have an employer who offers health insurance or you might be too old to be on your parents health insurance plan in which case you have to get insurance through the Obamacare marketplace because this is actually happening to me I have been doing a lot of research on choosing a plan and applying for health insurance under Obamacare so I want to give you a couple tips on how to choose health insurance through the Obamacare marketplace so the first thing you want to figure out is when the open enrollment period is in general the open enrollment period is November 1st through December 15th and that's so that you can get health insurance that starts on January 1st now depending on which state you live in the enrollment period might be a little bit longer but it's going to at least be through December 15th so stop delaying and if you need health insurance for 2018 be sure to log on and figure it out now so now that we know that how do you choose a plan that's right for you so the first thing you want to figure out is how often do you actually go to the doctor so if you're like me I go to the doctor twice a year I go for an annual exam and I go for some sort of illness pinkeye bronchitis some sort of illness that I've contracted and I don't take any prescription medicine so in general I don't really utilize the healthcare system that much so people who don't use the healthcare system that much can choose a plan with a higher deductible but a lower monthly cost so plans range from catastrophic which means they have a really low monthly cost but a really high deductible which means if you need a medical procedure you'll be paying a lot of money for that too Platinum where you pay a lot of money every month for coverage but you pretty much have no other expenses other than the monthly health insurance payment so you want to figure out what plan is right for you the second thing you want to do is figure out how much you can afford and your budgets pretty tight and you can't afford a lot you're probably going to have to go with a plan with a low monthly cost but a higher deductible in case something happens or if you have a lot of extra money in your cash and you want really good health insurance you can spend a couple hundred dollars a month for a really great plan so knowing that I don't go to the doctor very much but I also have a fair amount of income that I can spend on health insurance I'm probably going to end up choosing a silver plan which means it's right it's a decent monthly payment but if I have to give the doctor have some sort of medical expense usually they'll just be a copay which means I won't be out thousands of dollars so if you are looking for insurance make sure you sign up for the healthcare through Obamacare by December 15th because after that the enrollment period closes and you don't wanna be uninsured put yourself at risk and face a tax penalty so if you're looking for insurance under Obamacare give this video a thumbs up comment below with how your experience has been I haven't had too terrible of an experience so far it's been pretty painless I expected it to be a lot worse and also don't forget to subscribe to my channel to stay on top of all of my frugal tips

Source: Youtube

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