NEW YORK, March 19, 2014 /PRNewswire-iReach/ -- AmaboCare (www.AmaboCare.com) has launched new features that help people compare and understand Obamacare health insurance options offered on State health exchanges and healthcare.gov. Easy-to-use features available on AmaboCare including a Subsidy Calculator, a Tax Penalty Calculator, and advanced health insurance plan browsing, allow users to navigate the complexities of Obamacare. In addition, web developers can embed our Obamacare Subsidy and Tax Penalty Calculators directly on any web page. These new features are available just in time before the March 31st deadline for individuals and families to purchase insurance.
Choosing a health insurance plan is typically a confusing and difficult decision, and an overall unenjoyable experience. AmaboCare hopes to change that. We are not a web broker and do not have any affiliation with insurance companies or health exchanges. AmaboCare is an independent health insurance information provider and research firm. Our team consists of experts on the Affordable Care Act (aka Obamacare) and innovative web developers.
Learn more about the features we provide:
Search and Compare Health Exchange Insurance Plans
- Advanced filters allow users to compare plan options and narrow down their choices, enabling users to find a plan that meets their needs. Plans can be filtered and sorted by Premium Price, Deductible, Max Out of Pocket, Insurance Company, Metal Level, Average Out of Pocket, and Average Total Cost.
- For each plan, links are provided to see even more plan details and look up whether a doctor is included in the plan.
- Search by simply entering Zip Code and ages of family members. There is no need to enter sensitive personal information or register for an account.
Obamacare Subsidy (Tax Credit) Calculator
- Users can see if they are eligible to receive a tax credit from the Federal government, and the dollar amount, which can be used to buy a health insurance plan on health exchanges and healthcare.gov.
- The subsidy amount is incorporated when comparing plans so that users can see their cost for each plan after applying the subsidy.
- Web developers can Embed the Obamacare Subsidy Calculator onto any webpage for free.
Obamacare 2014 Tax Penalty Calculator
- Our Tax Penalty Calculator can estimate the penalty someone will face, when filing taxes in 2014, for not having health insurance. The IRS calls the tax penalty the "Shared Responsibility Payment" and it is administered for not fulfilling the Individual Mandate of the Affordable Care Act
- Web developers can Embed the Obamacare Penalty Calculator onto any webpage for free.
AmaboCare has created a metric to estimate the average out of pocket costs for each plan
When discussing affordability of Obamacare health insurance plans, people typically focus on monthly premium prices and ignore out-of-pocket medical costs associated with each plan. Out-of-pocket costs refer to the deductible, max out-of-pocket, copays, and coinsurance of each plan. AmaboCare believes a true measure of the "cost" of a health insurance plan should include the monthly premium AND expected out-of-pocket costs.
We have developed a metric, called the AmaboCare Average Out-of-Pocket, to estimate the average out-of-pocket costs enrollees will face in each plan. Our metric is a pure average of the expected out-of-pocket medical costs for all the enrollees in a plan. To explain further, a small number of enrollees will require a lot of medical care and they will hit the max out-of-pocket of the plan, while others may never go to the doctor and will have $0 out-of-pocket costs. Others will only need occasional medical care and may only spend a portion of their deductible. The AmaboCare Average Out-of-Pocket is the average of ALL enrollees expected medical out-of-pocket costs, for each health insurance plan.
Media reports have referred to out-of-pocket costs as "sticker shock" because many people are not aware of their financial impact. The AmaboCare Average Out-of-Pocket metric gives users a better sense of the true costs they will face for selecting a specific plan. It can be an extremely useful tool when comparing plans.
AmaboCare's Learning Center Explains Important Information to Understand When Selecting a Obamacare Plan
The Affordable Care Act has changed the health insurance industry in many different ways. AmaboCare's Learning Center informs users about complex Obamacare concepts that are important to understand when choosing a health insurance plan. Information is presented in an easy-to-understand format and includes explanations of:
- Plan "Metal" Levels (Bronze, Silver, Gold, Platinum)
- The "Risk" Decision people face when choosing a plan with a low vs. high monthly premium price, across the different Metal Levels
- Deductibles and Max Out-of-Pocket
- Copays and Coinsurance
- Subsidies (tax credits)
- Cost Sharing Reduction (CSR) plans
Please feel free to contact us with any questions, comments, or suggestions.
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