Step 4: Estimate how long you'll need to get details on the prescriptions you take.
List full names (spelled correctly) for all the medicines you take.
- Write down the dose you take.
- If you know it, write down if it's the generic name or brand name.
If you're not sure about all the medicines you need, ask your pharmacy to print a list of the medicines you've bought in the last year. To be courteous, give them a couple days to do this for you.
Step 5: Set aside some time to review your budget and anticipate your insurance costs.
If you don't already have one, set up a bank account so you can have direct payments sent from your account to an insurance company. This is called an electronic funds transfer.
Step 6: Explore your health plan and coverage choices.
Don't wait until the deadline to figure out what kind of health plan you need and to look at the choices. Some employers and large health insurance companies have tools to help you decide what kind of benefits you need. State Marketplaces may have answers to frequently asked questions. Also be familiar with the types of health plans available.
Step 7: Prepare to pay a fee if you miss the deadline.
Starting in 2014, most Americans must have health insurance or pay a fine. There are two ways to figure out the amount of the fine. You have to pay whichever amount is more:
- $95 for each adult and $47.50 for each child, with a maximum of $285 as the maximum, OR
- 1% of your adjusted family income
If you are without health insurance for 3 months or less in 2014, you won't have to pay a fee.
Some people are exempt. They won't have to buy insurance or pay a fee.