OBAMACARE: Insured or Not Insured, That is the Question?

You may think you have coverage WHEN YOU REALLY DON'T:

Just because a person has been able to enroll in a health-care plan on either a state or the federal health insurance exchange doesn’t mean they automatically have coverage. 

The all-important payment process does not occur on an exchange site, the premium must be made directly from policyholder to insurance company in order for the policy to start. So the White House touted Dec.15 enrollment deadline to have coverage kick in on Jan. 1, may be misleading, says Yevgeniy Feyman, scholar at the Manhattan Institute. 

Americans across the country have been struggling to enroll in health-care plans on the glitch-plagued Healthcare.gov federal insurance marketplace and state exchanges, making it more difficult to get to the step of paying for coverage.

“We do know that individuals who want to have coverage enacted by Jan. 1, 2014 have to have paid their premiums by Dec. 15,” Feyman says. “If you have not paid that premium [by that deadline], that means that starting Jan. 1, you don’t actually have coverage. You are not enrolled in an insurance plan until you have made your first premium payment or signed a contract with the insurance company.” 

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The Department of Health and Human Services announced last week that from Oct. 1-Nov. 2, 106,185 Americans had selected insurance plans across the country—but the department didn’t clarify if the monthly premiums had been made. It is standard operating procedure in the insurance industry to only count clients who have paid the premium as new enrollees.

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