5 things to know about ‘Obamacare’

Today is the deadline to sign up for health coverage under the Affordable Care Act. More than 100,000 people signed up for coverage the day after Election Day. An estimated 11.5 million people across the country signed up for the federal mandated healthcare plan by Dec. 24. 

Here are five things to know about the Affordable Care Act:

  1. Today is the last day to sign up for or change coverage this year. If you sign up today, coverage will start on March. If you don't have health insurance, you may get a reminder from the IRS that you could face fines this year.
  2. Premiums for the second-lowest cost plan is expected to increase 25 percent this year in 39 states. In Ohio, this plan is expected to increase 2 percent.
  3. Tax credit subsidies will shield most Ohioans from the rate hikes.
  4. Experts say repealing the Affordable Care Act could jeopardize coverage for 11.5 million Americans, and 230,000 Ohioans. Local industry leaders are hopeful that if the healthcare law is repealed, Congress will develop a plan to stabilize the markets and provide coverage for thousands of new members.
  5. There are multiple ways to sign up for the Afordble Care Act: 

           Go to www.healthcare.gov online 

           Call the Marketplace Call Center at 1-800-318-2596 

           Go to https://localhelp.healthcare.gov/#intro to find a location to sign up.

The Associated Press and CBS News contributed to this report.

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