Obamacare Explainers Are Useless If You Don't Understand Basic Insurance.

By Fusion Staff  |  October 1, 2013 | 6:34pm
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After watching the explainer above, you might wonder how these terms relate to Obamacare.

Premiums under Obamacare vary by state. So you might want to move or make more money.

Deductibles depend on your premium. So really assess how often you’ll need expensive medical care to determine if you should pay a higher or lower premium. Remember, a higher monthly premium means you’ll ultimately pay less in medical bills. So if you foresee several pricey doctor visits in the next year, dig into your pocket a little more every month.

The plans under Obamacare are separated by metals so the order of cheapest to most expensive is pretty obvious: Bronze, Silver, Gold and Platinum.

So to put these in practice: If you have the Bronze plan your insurance will pay for 60% of your medical needs after you’ve reached your deductible. This plan has the lowest monthly premium.

If you want more coverage and help, the Platinum plan covers 90% of your expenses after you’ve hit your deductible. This plan, of course, has a higher monthly cost.

Pretty simple right?

And then there are co-pays. They aren’t going anywhere, so hopefully you can find a plan where your co-pay won’t be more than the price of a cheap lunch… and resist going to the doctor for issues you know you can fix on your own.

The bad news is you can’t predict the future. I know. It blows. So just try to make the most reasonable choice, preferably one that doesn’t crush your budget.

Romina Puga is a pop culture reporter and producer for Fusion. You can find her on “Fusion Now,” Fusion’s daily TV updates, going over new movies, music, apps, and why D’Angelo is still sexy.

 
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