Well this article is chocked full of rock solid info!
2. I've already got insurance at my job. Why does any of this matter to me?
For the nearly two-thirds of Americans under 65 who get health coverage through a job, you probably have a sweet deal already, and that's
unlikely to be soured. Companies pick up about 70% to 80% of the tab on average, according to the Kaiser Family Foundation.
Related: Obamacare sparked my startup
And chances are your plan's in-network out-of-pocket spending cap is already lower than the new Obamacare maximums: $12,700 for a family, $6,350 for singles. (Employers that use multiple vendors to manage medical, drug, and other types of expenses got a one-year extension on the cap.) And in 2014 your plan can't put limits on annual payouts (the same goes for individual policies). Yes, the federal government gave employers with 50 or more full-time workers another year before they have to offer insurance or pay a fine, but that delay
shouldn't affect those who already have a workplace plan.
Still, you may not want to be tethered to a company indefinitely. Maybe you'd like to strike out on your own, switch to part-time contract work, or retire before you quality for Medicare at 65. Because insurers can no longer turn you down based on your health, you're guaranteed to be able to find a comprehensive insurance policy. "A lot of people delay retirement just for health care coverage, so this offers more flexibility," says Lisa Zamosky, health-reform expert at Web MD.
Related: Your company's next health plan
You'll also have more long-term security if you find yourself out of a job. After a layoff, you can usually stay on your company plan for 18 months through COBRA, but without your firm's subsidy, that coverage is pricey: The average group family policy tops $16,000 a year, says the Kaiser Family Foundation. The second-cheapest silver-tier plan for a family headed by 40-year-olds should run about $11,500 on average, Kaiser reports, and a job loss may entitle you to a subsidy. Plus, your coverage won't expire if you fail to land a position with benefits in 18 months.
If you work for a firm with 50 or fewer employees, however, you may see one change. To give workers at small companies more insurance choice
(in theory), Obamacare created separate small-business insurance exchanges.
Your employer can send you to your state's exchange with a set amount to spend; you choose a policy and
pick up whatever exceeds the budget. So far, only 16 states, including Colorado and New York, have set up small-business exchanges with a choice of plans. In the rest, the employer can offer workers one plan only on an exchange until 2015.
This law is so open ended no one knows what will happen in the coming years!
