If you are searching for information about the Affordable Care Act, you are in the right place. Find out what you should know about the ACA below.
Understanding the Affordable Care Act
The Affordable Care Act (ACA) is a law reform act President Barack Obama signed into effect in 2010. Designed to make health insurance accessible to millions of uninsured Americans, the ACA made insurance premiums more affordable for low-income individuals and provided them with numerous protections. Despite its intentions to help individuals, the ACA, also called Obamacare, has received its fair share of scrutiny through the years. We’ve created this blog of helpful information about the Affordable Care Act everyone should know.
Goals of the Affordable Care Act (ACA)
When President Obama enacted the ACA, he did so to make health insurance accessible to millions of uninsured Americans. He hoped to do this through protections for Americans and more affordable insurance plans. The cost of coverage was the biggest factor standing between Americans and health insurance coverage.
The Affordable Care Act protects individuals with pre-existing conditions, promotes preventative care, and enhances the overall quality of care individuals receive from doctors and healthcare providers.
Pre-Existing Health Conditions
Before the introduction of the ACA, health insurance companies often denied coverage to individuals affected by pre-existing health conditions. When they offered coverage, they charged outrageous premiums. The ACA required health insurance companies to cover individuals regardless of their prior health history. The ACA also prevented insurance companies from charging higher premiums to those with pre-existing conditions.
Promotes Preventative Care
Far too many people did not visit their doctor for preventative care due to the costs of the visits. The ACA eliminated copayments on preventative health care services such as vaccinations and screenings. By eliminating copayments, more Americans can access the services and maintain good health.
Improved Quality of Care
The ACA introduced an initiative aimed at improving the quality of care low-income patients receive from their doctors and healthcare staff.
Medicaid Expansion
The ACA provided funding to states to expand their Medicaid programs. This opened up health coverage for individuals previously ineligible for insurance coverage due to income restrictions.
Expanded Healthcare Coverage for Young Adults
The ACA required health insurance companies to allow young adult dependents to remain on their parent’s plans until age 26 regardless of their health status. Before the ACA, young adults were kicked off their parent’s plans at age 18 or 21, leaving them uninsured and vulnerable during a very important time in their lives.
Employer Coverage
Large businesses are now required to provide health insurance to full-time employees. However, the ACA does not cover part-time employees.
How to Obtain Coverage Under the ACA
Low-income individuals interested in obtaining health insurance through the ACA should visit the Health Insurance Marketplace, a website offering everything necessary to start a plan that meets your coverage needs and budget.
Health insurance shoppers can visit the website to search for and compare plans with different providers, compare policy coverage and prices, and much more. The website caters to individuals and business owners shopping for health insurance coverage.
On the marketplace website, individuals can also:
- Determine eligibility for coverage under the Act. In addition to more affordable health insurance, individuals may also qualify for tax credits that can lower their out-of-cost pockets
- Explore plans offered by different companies in a range of costs.
- Compare plans based on factors like copayments, covered services, and premiums.
- Choose and enroll in a plan.
- Pay premiums each month.
- Learn valuable health insurance information.
Changes to the ACA
After President Obama left office, the Trump administration made many provisions to the Affordable Care Act starting in 2017, including:
- The Trump administration reduced funding for ACA outreach efforts, effectively minimizing the promotion of the program.
- Congress passed the Tax Cuts and Jobs Act, repealing the penalty for anyone without health insurance. Although the Administration did not eliminate the penalty, it was reduced to $0.
- A 2018 ACA change expanded access to association health plans that allow small businesses and self-employed individuals to purchase insurance collectively, providing more affordable coverage to these individuals.
Impacts of the Affordable Care Act on Healthcare in the U.S.
The biggest impact the ACA has made on healthcare in the U.S. is the reduction in the number of uninsured individuals. Millions of Americans lived without healthcare coverage before the ACA and now have access to the health insurance marketplace and its range of policies and coverages.
The ACA has also assisted low-income individuals through subsidies and financial programs, including premium tax credits and cost-sharing reductions. These subsidies and financial programs offset the cost of health insurance, ensuring everyone, regardless of income, has access to the coverage they need to remain healthy.
Frequently Asked Questions About the ACA
1. When can I enroll in a plan through the ACA Marketplace?
Most insurance companies offer enrollment during select weeks of the year. The enrollment period lasts at least 30 days, although is usually longer. The dates of enrollment vary, although they are usually open in November and end in January. Check the Marketplace website to find out specific dates.
2. How much will I pay for health insurance through the ACA?
Each person pays premiums based on their income and other factors. The best way to determine your premiums is through the website health insurance plan comparison tools.
3. Can I get premium tax credits for health plans I purchase outside of the Marketplace?
Health insurance plans can still be purchased outside of the Marketplace. However, those plans do not qualify for tax credits.
4. How do premium credits work?
Credits can help reduce your health insurance premium. The premium credits you qualify for vary and depend on factors such as your income and the cost of your health insurance plan.
Final Thoughts
The Affordable Care Act has become common now that it has been a part of our lives for 14 years. Provisions made to the act ensure that it continues to benefit the American people and the quest to keep everyone healthy.
If you are searching for information about the Affordable Care Act, you are in the right place. Find out what you should know about the ACA below.
Understanding the Affordable Care Act
The Affordable Care Act (ACA) is a law reform act President Barack Obama signed into effect in 2010. Designed to make health insurance accessible to millions of uninsured Americans, the ACA made insurance premiums more affordable for low-income individuals and provided them with numerous protections. Despite its intentions to help individuals, the ACA, also called Obamacare, has received its fair share of scrutiny through the years. We’ve created this blog of helpful information about the Affordable Care Act everyone should know.
Goals of the Affordable Care Act (ACA)
When President Obama enacted the ACA, he did so to make health insurance accessible to millions of uninsured Americans. He hoped to do this through protections for Americans and more affordable insurance plans. The cost of coverage was the biggest factor standing between Americans and health insurance coverage.
The Affordable Care Act protects individuals with pre-existing conditions, promotes preventative care, and enhances the overall quality of care individuals receive from doctors and healthcare providers.
Pre-Existing Health Conditions
Before the introduction of the ACA, health insurance companies often denied coverage to individuals affected by pre-existing health conditions. When they offered coverage, they charged outrageous premiums. The ACA required health insurance companies to cover individuals regardless of their prior health history. The ACA also prevented insurance companies from charging higher premiums to those with pre-existing conditions.
Promotes Preventative Care
Far too many people did not visit their doctor for preventative care due to the costs of the visits. The ACA eliminated copayments on preventative health care services such as vaccinations and screenings. By eliminating copayments, more Americans can access the services and maintain good health.
Improved Quality of Care
The ACA introduced an initiative aimed at improving the quality of care low-income patients receive from their doctors and healthcare staff.
Medicaid Expansion
The ACA provided funding to states to expand their Medicaid programs. This opened up health coverage for individuals previously ineligible for insurance coverage due to income restrictions.
Expanded Healthcare Coverage for Young Adults
The ACA required health insurance companies to allow young adult dependents to remain on their parent’s plans until age 26 regardless of their health status. Before the ACA, young adults were kicked off their parent’s plans at age 18 or 21, leaving them uninsured and vulnerable during a very important time in their lives.
Employer Coverage
Large businesses are now required to provide health insurance to full-time employees. However, the ACA does not cover part-time employees.
How to Obtain Coverage Under the ACA
Low-income individuals interested in obtaining health insurance through the ACA should visit the Health Insurance Marketplace, a website offering everything necessary to start a plan that meets your coverage needs and budget.
Health insurance shoppers can visit the website to search for and compare plans with different providers, compare policy coverage and prices, and much more. The website caters to individuals and business owners shopping for health insurance coverage.
On the marketplace website, individuals can also:
- Determine eligibility for coverage under the Act. In addition to more affordable health insurance, individuals may also qualify for tax credits that can lower their out-of-cost pockets
- Explore plans offered by different companies in a range of costs.
- Compare plans based on factors like copayments, covered services, and premiums.
- Choose and enroll in a plan.
- Pay premiums each month.
- Learn valuable health insurance information.
Changes to the ACA
After President Obama left office, the Trump administration made many provisions to the Affordable Care Act starting in 2017, including:
- The Trump administration reduced funding for ACA outreach efforts, effectively minimizing the promotion of the program.
- Congress passed the Tax Cuts and Jobs Act, repealing the penalty for anyone without health insurance. Although the Administration did not eliminate the penalty, it was reduced to $0.
- A 2018 ACA change expanded access to association health plans that allow small businesses and self-employed individuals to purchase insurance collectively, providing more affordable coverage to these individuals.
Impacts of the Affordable Care Act on Healthcare in the U.S.
The biggest impact the ACA has made on healthcare in the U.S. is the reduction in the number of uninsured individuals. Millions of Americans lived without healthcare coverage before the ACA and now have access to the health insurance marketplace and its range of policies and coverages.
The ACA has also assisted low-income individuals through subsidies and financial programs, including premium tax credits and cost-sharing reductions. These subsidies and financial programs offset the cost of health insurance, ensuring everyone, regardless of income, has access to the coverage they need to remain healthy.
Frequently Asked Questions About the ACA
1. When can I enroll in a plan through the ACA Marketplace?
Most insurance companies offer enrollment during select weeks of the year. The enrollment period lasts at least 30 days, although is usually longer. The dates of enrollment vary, although they are usually open in November and end in January. Check the Marketplace website to find out specific dates.
2. How much will I pay for health insurance through the ACA?
Each person pays premiums based on their income and other factors. The best way to determine your premiums is through the website health insurance plan comparison tools.
3. Can I get premium tax credits for health plans I purchase outside of the Marketplace?
Health insurance plans can still be purchased outside of the Marketplace. However, those plans do not qualify for tax credits.
4. How do premium credits work?
Credits can help reduce your health insurance premium. The premium credits you qualify for vary and depend on factors such as your income and the cost of your health insurance plan.
Final Thoughts
The Affordable Care Act has become common now that it has been a part of our lives for 14 years. Provisions made to the act ensure that it continues to benefit the American people and the quest to keep everyone healthy.
){kind=link}