Obamacare is slated to take effect soon, with open enrollment for new health-insurance exchanges scheduled to start Oct. 1. But many potential policyholders still don't know how these exchanges will work or how they'll find a policy that's right for them.
In the following video, Dan Caplinger, The Motley Fool's director of investment planning and author of the special free report "Everything You Need to Know About Obamacare," talks with Motley Fool health-care bureau chief Max Macaluso about how you can pick the right Obamacare policy for you and your family. Dan notes that exchanges will offer a variety of different policies that carry different levels of benefits. Some less-comprehensive policies will offer lower premiums but have relatively high copayments and deductibles, while some more-comprehensive policies will charge more in monthly premiums but will offer lower copays and out-of-pocket costs.
Dan and Max discuss the trade-off that you'll have to make in assessing which policy is right for you. Dan points out that for many healthier Americans, choosing a less-comprehensive policy will lead to lower total costs. But he also warns those with greater health-care needs to consider higher-premium policies, as savings on actual medical services under those policies might more than offset the higher monthly costs.
