The Affordable Care Act

Affordable Care Act
Originally at the turn of the century, many U.S. citizens opted not to purchase health care coverage. Many had pre-existing conditions that made it difficult for them to afford the premiums for their available plans. Others also waived the chance because they couldn’t fit the high costs for insurance into their budgets.However, in July of 2009, the House of Representatives proposed a plan to reform the American health care system. And in March of the following year, President Barack Obama signed the Patient Protection and Affordable Care Act into law. Nicknamed “Obamacare” or shortened to the Affordable Care Act (ACA), it overhauled the pre-existing American medical insurance system.

It lowered the costs of health insurance across the board, making it more accessible to citizens living without medical coverage. It’s generally seen as an alternative for those under 65 to cover their health care needs. There are subsidiaries that you may be eligible for that’ll help pay all or part of the plan’s monthly premiums based on a set of requirements.

If you want to know more about your Obamacare options, contact Golden Plan Choice. With 15 years of experience, our agents can help you get the health insurance that fits the parameters you want and need.

Benefits of the Affordable Care Act

Obamacare brought about many benefits to those without health insurance. At the forefront, it made health care more affordable, and the Affordable Care Act has further expanded since its signing in 2010. The following are the general benefits of the Affordable Care Act:

Health Insurance Picture

More People have Health Care Coverage

More than 16 million U.S. citizens now have health insurance after the signing of the ACA. The largest percentage of that number are young adults. That’s because with the signing of the ACA, many young adults can stay on their parents’ medical insurance plans until they’re 26.

Individual Insurance Picture

Health Insurance is More Affordable

Although health insurance isn’t free, there is now a wider range of coverage options available to those who need it. One of the provisions that allow for this is the subsidiaries that the government offers those that meet their specific requirements. These subsidiaries help pay a portion or all of your plan’s monthly premiums.

Family Insurance Picture

People with Pre-Existing Conditions Can’t Be Denied Coverage

Before the ACA was in effect, pre-existing conditions, such as cancer, made it difficult for many citizens to obtain the health coverage they needed. Most insurance providers wouldn’t offer coverage for those people. However, the ACA overturned that and now you can’t be denied insurance due to a known health issue when shopping for coverage.

Other Benefits of the Affordable Care Act

No Limits Exist on Health Care

Originally, people with chronic health problems would run out of insurance coverage. That’s because many insurance companies would set limits on how much money they would spend on an individual. However, with the signing of the ACA, insurance providers can no longer set a preset dollar limit on your coverage.

More Screenings and Preventative Care are Covered Under Obamacare

Although the original health insurance plans also covered a variety of screenings and preventative care, Obamacare expanded those options. These options usually have a low copay or deductibles.

Now, with the ACA, every health care plan must include coverage for the following:

  • Hospitalization
  • Ambulatory Services
  • Emergency Services
  • Maternity and Newborn Care
  • Services for Mental Health Disorders and Substance Abuse
  • Prescription Drugs
  • Lab Tests
  • Chronic Disease Management and Vaccinations
  • Pediatric Dental and Vision Care
  • Rehabilitative and “Habilitative” Services

The ACA also stipulates that certain healthcare services are free. These services include colonoscopies, cholesterol and blood pressure checks, birth control, routine vaccinations, and several other services.

More Care

The American Rescue Plan

On March 11, 2021, President Joe Biden signed the American Rescue Plan Act of 2021. Although the main purpose of this piece of legislation was to speed up the country’s recovery from the economic and health effects caused by the COVID-19 pandemic, some of its provisions enhanced some of the Affordable Care Act’s benefits.

One of the provisions that the Affordable Care Act is the government premium subsidiaries. With the signing of the American Rescue Plan, those premiums have increased for all income levels. It reduced the percentage of income that enrollees have to pay for the “benchmark.”

At the time of the signing, the American Rescue Plan’s subsidiary boosts were temporary and expected to last through 2022. However, it’s expected that the Democrats may make the boosts permanent in future legislation

Enrolling in Obamacare

Enrollment in Obamacare plans is limited to annual open enrollment periods. It is the only time of the year that you can sign up for a health insurance plan or modify an existing one. The exact dates differ depending on the state, although most enrollment periods start near the end of the calendar year, carrying into the January of the next year.

However, even if you miss the open enrollment period, there are still ways for you to get the medical coverage you need. You may meet the qualifications for a “special enrollment period.” This special enrollment window is only available if you experience a qualifying life event. These events can include losing your previous coverage, marriage, or changing in your household’s number.

Otherwise, there are other health insurance programs that you may be eligible for that are open year-round. Each one has their own requirements and specifications.

Don’t Hesitate To Contact Us

Golden Plan Choice’s team can help you choose the best ACA-compliant insurance plan for you during the open enrollment period. And, if you missed the enrollment period, we can help you find alternatives that’ll keep you and your family covered. With over 15 years of experience, our agents can walk you through the process, so you’ll get the health coverage you and your family needs. If you have any questions or concerns, don’t Don’t Hesitate To Contact Us .