8 Million Signed Up for Obamacare

President Obama claimed bragging rights to say 8 million signed up for the Affordable Care Act. This is a million people more than the administration said was needed to make Obamacare work.

The White House may not have gotten all the young people it wanted, but it got a pretty good percentage.

35 percent of those who signed up through state federally- facilitated marketplaces are under 35 years old. Another 28 percent are 18 to 34. It was important to get young, healthy people to join the program to offset the cost of health insurance for older people who tend to have more medical problems.

The President also pointed out that 3 million young adults gained coverage because the Affordable Care Act allows them to remain on their parents’ health insurance plans until they are 26.

In addition, 3 million people enrolled in Medicaid and the Childhood Health Insurance Program, or CHIP, as of February. You can enroll in these programs year-round although you won’t be able to enroll in Obamacare until the next open enrollment period.

NEXT OPEN ENROLLMENT PERIOD

The next open enrollment period for Obamacare begins November 15, 2014 and ends February 15, 2015.

If you sign up in November your health insurance can begin as early as January 1, 2015. But you must make your first month’s payment before the health insurance kicks in.

APPLYING OUTSIDE OF THE OPEN ENROLLMENT PERIOD

You can only apply outside of the open enrollment period under  these circumstances:

1. You’re getting married.

2. You’re adopting a child or a child is placed in your home.

3. You’re moving to a new area that offers different health plan choices.

4. You’re losing your healthcare coverage after a divorce, because you’ve lost your job, your COBRA is expiring, or you no longer qualify for Medicaid.

 

 

 

 

Published by

Barbara Nevins Taylor

As the winner of 22 Emmy Awards and a slew of journalism honors and awards, I created ConsumerMojo.com to give you the straight story about complicated stuff. Tell us what you want to know and we'll get you the answers.