Starting November 1st, people can begin signing up for health insurance through the Affordable Care Act (ACA) marketplace. But there's a big problem: Congress hasn't decided whether to keep the extra financial help that makes insurance more affordable for millions of Americans.

Without this help, insurance costs could go way up. For example, a 60-year-old couple making $85, 000 a year could see their annual premiums increase by over $22, 600. A 45-year-old earning $20, 000 in a state that didn't expand Medicaid could see their premiums rise from $0 to $420 per year.

This could lead to more people going without insurance or choosing lower-quality plans. It might also cause insurance companies to raise prices even more in the future.

Experts say people should shop for insurance now, but not make any final decisions until they see if Congress extends the financial help. They can choose a plan and switch to a different one later during the open enrollment period if needed.

Even if you're healthy, it's important to have some kind of insurance. You never know when a major health issue might come up. If you have minor health problems, you might want to consider a high-deductible plan and pair it with a direct primary care doctor. But if you have serious health issues, look for a plan with a good network of doctors and a lower deductible.

CONGRESSIONAL DEADLOCK

Health Insurance Prices Set to Skyrocket: What You Need to Know

Continue reading...