Teresa Mears: 10 Things To Do When Choosing An Obamacare Health Plan

1. Find out which plans include your doctors - If you have doctors you like and want to continue seeing, check provider lists
2. Compare the Summary of Benefits and Coverage - This federally mandated standard form makes it easier to compare plans
3. See how your drugs are covered - Some plans have a separate drug deductible, and some don't pay for any drugs until you meet your entire deductible
4. Evaluate whether to choose an HMO, a PPO or other option - Most marketplace plans are either HMOs or PPOs, though there may be other options in some communities
5. File updated income information - If your income is between 100 and 400 percent of the federal poverty level, you're eligible for a subsidy to help pay your premiums
6. Evaluate copays, coinsurance, deductibles and premiums together - If you visit doctors frequently, you may be better off paying a higher premium that gives you lower copays
7. Be prepared to pay a penalty if you don't have health insurance - The penalty for not having a qualifying health insurance policy will be $695 per adult and $347.50 per child
8. Stay on top of your income if you're self-employed - Using the marketplace is tricky for self-employed people with variable incomes
9. Search both inside and outside the marketplace if you don't qualify for a subsidy - In some areas, you may have additional options as a small business in addition to those provided for individuals
10. Get in-person help - Nonprofit organizations have trained navigators who will help consumers and small business owners evaluate plans

Source: U.S. News and World Report
Source URL: http://money.usnews.com/money/personal-finance/articles/2015...

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