Obamacare Facts: Why You Can't Afford to Pick the Wrong Plan

Obamacare Facts: Why You Can't Afford to Pick the Wrong Plan

The Patient Protection and Affordable Care Act, better known as Obamacare, has drawn criticism from those arguing that premiums will go up under the law. But while many focus solely on premiums, other concerns have recently arisen about costs under various Obamacare plans.

In the following video, Dan Caplinger, The Motley Fool's director of investment planning, looks at how different plans in the same general tier can have much different benefits. Dan cites a Wall Street Journal study that looked at the cost of Bristol-Myers Squibb's and Gilead Sciences' Atripla, finding that different plans involved out-of-pocket costs ranging from $55 to more than $900 even though all the plans were in the silver tier. In addition, a look at various policies from Cigna revealed that being in-network makes a huge difference, with costs falling to near zero for in-network coverage versus about $1,100 for out-of-network prescriptions. Dan concludes with the need to be diligent in matching the plan you choose to your medical needs.

Learn what you need to know about Obamacare
To make a smart plan choice, you need to understand all your options under the Affordable Care Act. Fortunately, you can learn the critical facts you need to know in a special free report called "Everything You Need to Know About Obamacare." But don't hesitate, because it's not often that we release a free guide containing this much information and money-making advice. Please click here to access your free copy.

The article Obamacare Facts: Why You Can't Afford to Pick the Wrong Plan originally appeared on Fool.com.

Fool contributor Dan Caplinger has no position in any stocks mentioned. The Motley Fool recommends Gilead Sciences. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Originally published