Stupid error by omission: ObamaCare’s Success Depends On Young People Acting Stupidly – Investors.com.
Here’s the error….
What’s more, ObamaCare guarantees insurance coverage when one of these “young invincibles” does get sick, and at subsidized rates, since the law bans insurers from charging more based on health status.
How long will it take for the young to figure this out, and tell all their Twitter pals how to game the Obama-Care system?
What Investors Business Daily (IBD) says is true, however it’s the error of omission that’s the problem. Everyone repeat after me:
YOU CANNOT GET COVERED BY OBAMACARE ANYTIME YOU PLEASE.
Outside of specific qualifying events, of which getting seriously ill or being injured in an accident are not included, you can only sign up for major medical plans during open enrollment.
When is open enrollment? Glad you asked….
- The first open enrollment period is extended. It starts October 1st, 2013 and ends March 31st, 2014
- Subsequent open enrollment periods will be from October 1st through Decmeber 7th
Even if the young invincibles, and everyone else for that matter, can schedule their critical illness diagnosis or major accidents during the open enrollment period there are still issues. Repeat after me…
COVERAGE DOES NOT START IMMEDIATELY
If you don’t have coverage, the soonest coverage can start is the 1st of the month after you apply. Your application must be in by the 15th of the prior month. So, the soonest coverage can start is 15 days and the longest could be 45 days and that’s if you are in the open enrollment period. No calling from the ambulance and signing up!
What if you are outside of the open enrollment period and need coverage. Repeat after me…
LIFE JUST GOT TOUGH. IT’S THAT “LIFE’S TOUGHER IF YOU’RE STUPID” THINGY
There is no major medical plan available to you period. Other medical insurance plans that are not major medical would not cover pre-existing conditions for at least 1 year and can still decline to offer coverage.
The only options I can see outside of open enrollment is that you manufacture a qualifying event OR perhaps you can become eligible for medicaid.
Note to young invincibles, I’m not saying you’re not getting the “screw job”, you most definitely are. I’m just saying be careful out there and make your decisions with the knowledge above. Arm yourself with some type of coverage, even if it isn’t an Obamacare Qualified Health Plan.