How the ACA Helps Millions of Americans Get the Health Insurance They Need.
In March 2010, former President Barack Obama signed the Affordable Care Act (also known as the ACA, PPACA, and Obamacare) to overhaul the American healthcare system. The goal of the law was to make health insurance more affordable for more people, expand the Medicaid program so that all adults with incomes below 138% of the federal poverty level can be covered, and provide support for medical innovations aimed at reducing health care costs.
What does this mean for you?
For individuals or families who cannot pay for health insurance through their employer, or are unable to work, the ACA provides a way to get coverage. Each year, the Affordable Care Act Exchange is open for you to choose a plan from the top health insurance providers across the country. Costs are kept low due to government subsidies (or tax credits) and deductible regulations. The goal is to keep costs as low as possible to keep America healthy.
For example, during the current global pandemic, millions of people lost their jobs, therefore millions of people lost their health insurance coverage. Thanks to the ACA, those people were eligible for coverage from the Exchange for themselves and their families.
Are you covered?
While coverage generally depends on the plan (some health insurance plans cover more than others), the ACA requires that some specific services always be included. If you need preventive care, emergency care, outpatient care without hospital admission, hospitalization, pre- and postnatal care, pediatric care, behavioral health care (for mental health and substance use disorders), rehabilitation services, or laboratory services, you automatically covered by the ACA.
Another important part of the Affordable Care Act is the provision for those with pre-existing conditions. Insurance companies cannot decline coverage or charge more due to pre-existing conditions.
Open Enrollment Period
If you are looking for a new health insurance plan under the Affordable Care Act for next year, Open Enrollment is the time to do it. To get a plan for 2021, the OEP runs from November 1 to December 15, 2020. If you need health insurance outside of that period, certain states allow you to buy short-term plans.
There are also situations called qualifying events that allow you to purchase ACA plans outside of the OEP. These include loss of employment, a move to a new coverage area, childbirth, loss of existing coverage, and a family event (marriage, divorce, or death).
If you still have questions or would like help choosing a plan, please give us a call. Our agents are on hand to make sure you get the coverage you need.