For the past several years, a hot topic of conversation has been health insurance and how it has been affected by the Affordable Care Act (also commonly known as “Obamacare”). The comprehensive health care reform law put into effect in March 2010 has three main goals.
- Provide affordable and accessible health insurance to more people.
- Expand the Medicaid program to cover all adults with income below 138% of the federal poverty level.
- Support innovative medical care delivery methods designed to lower the cost of health care.
It was President Obama’s intent to make sure everyone had health coverage and was able to afford it. Before the ACA, many would go without health insurance and take their chances. Many others were unable to obtain coverage if they had a chronic illness or “pre-existing condition”. Up to 50 million people that did not have coverage would go to the hospital if something happened to them, and the bill would be charged to an emergency Medicaid plan. This raised the cost of health care for everybody. Now, without insurance, an emergency room visit could cost between $1,400 and #3,000.
So the mandate was that everyone needed insurance of some kind, or be faced with a penalty. Anyone can compare health insurance plans on exchanges, which are websites run by the state or federal government. People can also see if they qualify for tax credits which would bring down the cost of their monthly premiums, another way of making health insurance more affordable.
All health insurance plans must provide ten essential health benefits to beneficiaries. To learn more about how the ACA has affected individuals, families, workers and seniors, click the link below.
Making the right choices about your coverage can be smooth and simple. If you are in need of any assistance in obtaining health coverage, call an agent and set up a meet and greet. We are here to help you.
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