Are ObamaCare Rates The Lowest Rates?

While the Affordable Care Act advertises that you will be getting affordable rates, there is nothing that says the exchanges will have the cheapest rates. You should NOT automatically assume that these new exchanges offer the best rates.

After checking the ObamaCare exchange in your state and getting plan rates, you should go elsewhere to see if you can find something better. If you have a pre-existing condition you may not be able to get coverage anywhere else and in that case you should pick an exchange plan. But if you are relatively healthy, it is the smart thing to do to check around online for even better rates than you were quoted with ObamaCare.

Keep in mind that many ObamaCare deductibles will be going up and the deductible is a very real part of the price of any plan. You have to pay the monthly premium PLUS the deductible BEFORE you are able to access a majority of the plans services.

You might be able to get more comprehensive coverage for the same price at an insurance company that isn’t on your exchange or you might even be able to get an outright cheaper insurance plan. Especially at the beginning of the ObamaCare rollout when very little has been figured out, trusting that the ACA exchanges have the best rates could be a big mistake.

You should also know that ObamaCare is going to offer rates that are different in every state. What this means is that if you are a 40 year old male that doesn’t smoke, you might get 50 different rate quotes if you checked every state’s exchange. Where you live is going to be crucial in the rates you pay so ask around and do your homework. Don’t take people’s word or the media’s word that your state’s ObamaCare health insurance exchange has the best rates.