ACA (OBAMACARE)

What's OBAMACARE?

Obamacare, officially known as the Affordable Care Act (ACA), is a comprehensive healthcare reform law enacted in March 2010. Its main goals are to increase the quality, accessibility, and affordability of health insurance in the United States.

OBAMACARE HIGHLIGHTS

Insurance Exchanges: marketplaces where the individuals and small businesses can compare and enroll into insurance plans.
Medicaid Expansion: Expanded Medicaid eligibility to cover more low-income individuals, though this was made optional for states by a Supreme Court ruling.
Subsidies and Tax Credits: Provided financial assistance to help low- and middle-income individuals and families afford insurance premiums, deductibles and coinsurance costs.
Consumer Protections: Implemented protections such as prohibiting insurers from denying coverage due to pre-existing conditions, removing annual and lifetime coverage limits, and allowing young adults to stay on their parents' insurance plans until age 26.
Essential Health Benefits: Required insurance plans to cover a set of essential health benefits, including emergency services, maternity and newborn care, mental health services, and prescription drugs.
Preventive Care: Mandated coverage of certain preventive services without cost-sharing, such as vaccinations and screenings.
Employer Mandate: Required larger employers (with 50 or more full-time employees) to provide health insurance to their employees or face penalties.

Obamacare aimed to reduce the number of uninsured Americans, make healthcare more affordable, and improve overall public health.

Frequently asked questions

Are there $0 premium health insurance plans?

The premium amount you would pay depends of how much tax credit you could obtain as a result of household income, dependents claimed on your tax report, age, location, etc. You may qualify for a $0 premium plan. Check your elibility!

What options are there left for me if I don't qualify for a $0 health insurance plan?

There are reduced premium and low cost sharing options for most people in the health insurance market. Check out your options!

When can I apply for a health insurance plan?

The regular Open Enrollment Period (OEP) for ACA is between Nov 1st and Dec 15th for a January 1st of the following year effective date. Some states will extend this period through the end of January for a February 1st effective date. But there are Special Election Periods (SEP) all year long that would grant an applicant to enroll in a health insurance plan with a first of the following month effective date. I.e: Moving, some changes in household, losing, obtaining or change in level of some assistance (LIS, Medicaid), losing employer insurance coverage, and others. Check if you qualify for a SEP!