It’s the Eve of Obamacare – How Will Your Budget Be Affected?


How does health care affect your budget? And will that change in the next few months? There’s no shortage of information and speculation circulating about the upcoming Affordable Care Act, commonly known as Obamacare. Toss in the impending government shutdown, and it can be overwhelming to understand what you need to know about the changes you might soon face in your own health care budget.

The changes won’t impact everyone – those on their employer’s health care plan can continue to benefit from their current coverage. But individuals or families who buy their own insurance or who have no current health insurance should prepare to reassess the cost of care in their personal budgets, using the information below.

We’ve touched on the topic of Obamacare before. But now that the nation is up against the eve of enrollment, we thought we’d round up some of the most helpful articles on the web.

Here are some great resources to help you catch up on the details before the new health care exchanges are open for enrollment:

What You Need To Know About The Affordable Care Act – Wall Street Journal This article pinpoints the “need to knows” on various elements of the act, and defines what the changes might mean for an individual’s specific needs.

How Obamacare Insurance Exchanges Work – CNN Money
If you’re looking for a more visual explanation, this video gives a great breakdown of Obamacare Insurance Exchanges and how they work. Give yourself a 3 minute break to check it out.

Obamacare Open Enrollment: Here’s Everything You Need To Know – CNN Another comprehensive look at the timeline, the costs, and the process of enrolling under the guidelines of the Affordable Care Act.

6 Things Boomers Need To Know About Obamacare – Yahoo Finance For the Baby Boomers out there, a useful look into the specific terms of the Affordable Care Act that may impact you, and what to expect in the upcoming months.

What The Self-Employed Need To Know About Obamacare – Entrepreneur. Working from home or self-employed? Here’s what you should know about taking advantage of the Affordable Care Act and how to apply.

Thoughts Before The Obamacare Exchanges Open On October 1st – PT Money There are tons of stats out there but individuals are the real concern. From a personal finance blogger perspective, here’s a more personal look at the potential effect of the Affordable Care Act.

Subsidy Calculator – The Henry J. Kaiser Family Foundation
A nifty little tool to help you predict what you might be paying under the new health exchanges – and what kind of subsidies you could expect. Just enter in your age, your annual income, your location along with answers to a few qualifying questions.

Health Care And Your Taxes – Turbo Tax Another nifty little tool – this time from Turbo Tax – to help you navigate the potential cost of healthcare, along with the effect on your taxes. Step by step, and easy to use.

Open enrollment begins tomorrow, October 1st but the terms and impact for individuals will vary state by state.

We’ll all know more tomorrow but if you have any other helpful resources in the meantime, be sure to leave a comment below!

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