4. You won't be penalized for being out of work. For some, the most confounding portion of Obamacare is the individual mandate, which imposes a penalty fee on anyone who fails to obtain "minimum essential coverage" – public or private health insurance – by Jan. 1, 2014. If you're uninsured and unemployed, don't panic: You may qualify for Medicaid or subsidies on a state-based insurance exchange program. Eligibility is based on household size and income, including unemployment compensation. If you don't qualify you may still avoid the penalty, which has many exemptions including one for being without insurance for up to three months and another for what's termed "financial hardship." Calculators to determine your options, including whether you meet the requirements for the penalty exemption, are available on HealthCare.gov.
5. If you're employed and your job has a benefit's package, you should probably take it. The ACA considers job-based health insurance to be the minimum essential coverage, so if you're employed and insured, you may choose to do nothing during the open enrollment period. If you're not happy with your employer's insurance terms and opted not to take the employer's policy, you must have other coverage from elsewhere by Jan. 1 to prevent paying the individual mandate penalty. Once again, visit HealthCare.gov to shop for options, and take note: It might be cheaper to stick with your job-based coverage, since employers shoulder some of the premium and because your job-offered plan may disqualify you to receive discounts on insurance exchange programs.