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Yes, you should still shop around for insurance coverage in 2017

Yes, you should still shop around for insurance coverage in 2017

You can still use the Insurance Marketplace to get coverage in 2017.

With major leadership changes in the White House and in Congress, there is much speculation that an Obamacare replacement is imminent or that the law could be repealed entirely. Millions of Americans currently use the Insurance Marketplace to find adequate coverage, and any changes could have wide-reaching implications.

As Vox reported, however, it appears as if it will take time to craft an Obamacare replacement . Lawmakers are already discussing the best, most appropriate things to amend, and it could be several years before a new system is put in place. For that reason, you can still shop around in 2017 to find health insurance for you and your family. Here's why it's important that you go online and learn more about your options .

Get covered before you get sick

Open Enrollment is the time set aside to select insurance coverage. This is critical, as you never know when you might suffer an accident or fall ill. Out-of-pocket treatment can be prohibitively expensive. As Consumerist reported, a ride in an ambulance alone can cost $850 or more while serious or on-going treatments can be tens or hundreds of thousands of dollars. Having health insurance can protect you from hospital bills that might otherwise cause unbelievable challenges.

Find a plan for $75

Insurance premium spikes have dominated the headlines in late 2016, and indeed in some places around the country, the cost of coverage has sky-rocketed. Fortunately, the Insurance Marketplace and government tax credits insulate many Americans from these increases.

The Department of Health and Human Services reported that 73 percent of visitors to the Insurance Marketplace qualify for a $75 monthly premium . By inputting a small amount of personal information online, you can see what plans are available to you and your family and how much you would pay after applying any subsidies or support. Use Open Enrollment to ensure your family is covered and that you aren't paying too much for insurance or subject to any penalties for not being covered. Plans on the Insurance Marketplace have the same basic regulations, benefits, rights and protections as private plans.

Account for any changes

Just because you have insurance coverage doesn't mean you shouldn't shop around and learn more about your options. HHS reported that during the 2016 Open Enrollment period, 40 percent of visitors to the marketplace switched plans. These people saved $500 a year on average, or about $42 per month.

How much you pay and the types of coverage available to you can change year over year . For example, changes in income can have an affect on your tax credit eligibility. Likewise the plans offered in your state may also have been updated. Not only might there be better options with wider coverage, but you may also decide that a smaller plan makes better sense for you and your family. Going on to the Insurance Marketplace and learning more about your specific health insurance qualifications is the only way to know if you stand to save some money in 2017.

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