Affordable Care Act Deadline Jan 15

a. You must complete the application by Jan 15 in order to have coverage to begin on February 1. You have no rights on January 16th.

b. If you are attempting to receive premium reduction (APTC), then your FIRST PAYMENT MUST BE MADE BY January 31st. This is a federal rule, the carrier has no say here. I do not understand why people attempt to pay at the very last moment, because SOMETHING CAN GO WRONG AND YOU MAY NEED EXTRA TIME TO SOLVE PROBLEMS, even if the problems are not your doing.

c. You can get your quote here: Click

d. People do not know how to choose a plan correctly. I cannot begin to make a list, it would be so long, and so varied. Choosing the right plan depends on your situation. From that point, is there randomness involved? Yes. Does that mean that insurance = gambling? No.

Gambling is ‘you know the probabilities, you know it is not an efficient use of money, but you do it anyway.”

Insurance is: there is a price at which you assign a monetary value the benefits that may or may not be valuable to you, so that if a random event occurs, you receive the resulting payouts, according to legal contracts.

Easy example: Mr. Sikalot, the twin brother of Mr. Perfect, who shares an apartment, will value the money paid for their health insurance differently. It will be so different, that they would reasonably choose different plans.

  • OK OK, a short list of errors now commences.

  • My friend, his name is Mr Perfect, who has 3x my salary and 10x my net worth chose the cheapest plan, and he has lotsa money, so I want to be like him. I chose the same plan as he.

  • I have ongoing health issues which require weekly, expensive treatment, I will choose the most expensive plan since it provides the best benefits.

Both are very likely wrong.