Review, sign and see the results
This is your last chance to edit your application so review all the information carefully.
Printing out a copy for your record would be wise. When time comes to file taxes it could prove helpful.
You have to agree that the information you have provided is correct and you are not telling a lie.
People fret over the income section. Income is an estimate to the best of your ability. You prove the income (reconcile) when you file taxes later. If your estimate comes out wrong you may end up having to give some credit back or you may find you can receive more. You have to file taxes to know.
Sign the application and click on Submit. You will immediately see if you are eligible for premium tax credits. The amount will also be shown.
♦ Medicaid — If the Marketplace believes you might be eligible for Medicaid you will not see any premium tax credits. There will be a notice stating information has been sent to your state's Medicaid program. If you cannot receive Medicaid you need to let the Marketplace know. You may then be able to purchase through the Marketplace and possibly receive premium credits.
♦ CHIP — Children will be forwarded to your state's CHIP program. You will not see a premium tax credit for your children. You are expected to first try to qualify for CHIP health insurance for your children. If they cannot receive CHIP then you need to inform the Marketplace.
You may want to save a copy of the results for your records. The results will remain available at Healthcare.gov.
Your application is complete and it is time to look for health insurance.
Clicking on Continue to Enrollment will take you to a page where you choose how you want to use your credits.
♦ Most people will use all credits now so their insurance premium will be reduced now. You are given the option to use a portion now and get the remainder when your file taxes.
When choosing a plan you will need to consider how much health care you might need next year. Depending upon your state there may be a number of plans offered on the exchange or there may be only a few.
If you qualify for Cost-Sharing Reductions (CSR), you want to first look at the SILVER plans. Plans with cost-sharing reductions factored in have in the past been labeled in yellow but this can change from time to time so take your time and look for anything that would suggest Extra Savings.
• If CSR plans are presented to you, you want to review them first because they will save you the most money.
Hopefully, you will be able to choose a plan without a huge deductible.
Unfortunately, most insurance companies are now offering only HMO plans at the Marketplace. HMO plans can keep your costs down but they are very restrictive. You must be careful to use certain providers and follow the HMO's rules. You can learn much more about HMO plans at Types of Health Insurance.
Know your plan before you decide.
Read the plan's Summary of Benefits.
Check to see if your current doctors take the plan. Is your closest hospital and urgent care facility in the plan's network?
Are your medications on the plan's drug list? How much will your prescriptions cost you under this plan?
Check off key points - then decide.
♦ Remember you have to stay with the plan until the next open enrollment — one year later.