As the nation readies for the second open enrollment in as many years, consumers and insurance professionals alike have an opportunity to gauge the success of Obamacare. From a consumer standpoint, the Obama administration seems to have failed in their bid to educate the public. The Kaiser Family Foundation recently published a poll which found that nearly 9 in 10 uninsured Americans are unaware of when the next open enrollment period begins, with two-thirds saying they know “only a little” or “nothing at all” about the marketplace shopping experience.1
The industry has had a chance to reflect on its handling of Obamacare as well. Some companies have built new plans especially to deal with the biggest consumer concern, the high deductible and out-of-pocket costs associated with Obamacare. The IHC Group has one of the most robust plans specifically tailored to help consumers meet their Obamacare deductibles. In 2014, Obamacare plans had a maximum out-of-pocket of $6,350 , meaning even though many people were paying for health insurance for the first time they were still responsible for a hefty chunk of change for their medical bills. The IHC Group’s Metal Gap has plans with supplemental accident coverage up to—you guessed it--$6,350.2
Perhaps the more revolutionary tool out of the IHC Group this year is the Marketplace, where consumers can shop for health insurance by comparing plans from some of the nation’s leading providers. In addition to major medical coverage, consumers can find supplemental products like Metal Gap, short term options, and dental and vision coverage. When it comes to making a purchase as important as health insurance, you really don’t just want to take the sales guy’s word for it. You want to make an educated decision based on your budget and coverage needs. With the IHC Marketplace, this is now possible.
1Hamel, Liz, Jamie Firth, Bianca DiJulio, and Mollyann Brodie. "Kaiser Health Tracking Poll: October 2014." Kaiser Health Tracking Poll: October 2014. Kaiser Family Foundation, 21 Oct. 2014. Web. 10 Nov. 2014.
2Based on 2014 maximum out-of-pocket allowable on an ACA-compliant plan.