Key Obamacare Piece to Take Effect: What You Need to Know

Affordable Care Act will make it mandatory for people to get health insurance by 2014.
2:45 | 09/30/13

Coming up in the next {{countdown}} {{countdownlbl}}

Coming up next:



Skip to this video now

Now Playing:


Related Extras
Related Videos
Video Transcript
Transcript for Key Obamacare Piece to Take Effect: What You Need to Know
Another countdown going on that will have an impact on millions of americans. One of the key pieces of the affordable care act will go into effect at midnight. Rebecca jarvis is here now with all the information you need to know. People need to know this, don't they? Reporter: There is a lot of it. Good morning. Tonight, for the first time, every american will have a look at the insurance plans offered under the affordable care act. Report this is morning that the obama administration is working to overcome technical glitches. Here's how it all affects you. When the clock strikes midnight tonight, every american will be able to shop for health insurance. Obama care, a bill that requires all americans to purchase health insurance by 2014. If you don't have health insurance you have to get it or face fines. Get ready to shop at the health insurance marketplace or exchange. Think of it as a health insurance mall for your state. Each store represents a different insurance company. You'll get an easy to read map and get options to see what makes the most sense for you and your family. If you're one of the 3 in 5 americans insured by your company, you will continue to be insured by them. You have the option to get a better deal at the marketplace. Since most employers pay a portion of your premium, a better deal sun likely. It's still worth taking a look. If you ignore obama care and don't purchase health insurance, you'll still have to pay up. You'll face a fee up to $95 and there are 47.50 if you don't enroll. Even with a government shutdown, we're still expecting implementation tonight. It will be on a state-by-state basis. The information is there. It is. Rebecca, thank you very much. All of this a hot topic on your show on sunday. People are fed up. They're just fed up with how washington works or doesn't work. They're ready to blame both sides. Republicans likely to get a little more blame. The last time we had anything of this scale was 1995 and 1996. The economic consequences were enormous. No question it hurt economic growth. It soured people on the government then as well.

This transcript has been automatically generated and may not be 100% accurate.

{"id":20416959,"title":"Key Obamacare Piece to Take Effect: What You Need to Know","duration":"2:45","description":"Affordable Care Act will make it mandatory for people to get health insurance by 2014.","url":"/GMA/video/key-obamacare-piece-effect-20416959","section":"GMA","mediaType":"default"}