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One of the first questions that people often ask is that how will the Affordable Care Act affect them, their families and their businesses. Some of these doubts will be put to rest in below section:
Health insurance is covered by Employer
Majority of the people, who are already covered by their employers, will not be affected much from the Affordable Care Act. The scene will in fact turn for the better as all these people and their families will now enjoy better and more coverage’s in case of mental health problems and free preventive care. Children till the age of 26 will get covered by their parent’s coverage. Moreover they will have more rights and can challenge their insurers in case of any payment denials.
If for some reason the employer does not provide full benefits then one can always choose to buy a plan from the marketplace. But only if the employer’s plan does not cover all the 10 essential benefits or covers less than 60% of the total medical expenditure and only the employee premium is more than 9.5% of his income, can he avail cost sharing assistance or tax credits for insuring his family members..
If for some unfortunate reason one loses his job or wants to open his own business venture then choosing a new plan under the marketplace is a better option than to stick to the old plan.
Small scale employers can find better plans through the Small Business Health Options Program or SHOP as they will get tax relief if they voluntary decide to pay for the coverage of their employees.
Individual Health insurance is covered by Employer but not that of family
If any worker is not able to afford the premium amounts charged by the employers for ensuring their families, then the best way is to find an appropriate plan from the marketplace but he will not get any assistance for cost sharing or tax credits.
Employed part time
Although Obamacare mandates large employers to insure their full time employees fully, the coverage for their part-time workers is still solely dependent on the employer. In the initial years some of the full time employees were forced to work on a part time basis so that employers did not need to pay for their health insurances.
In such cases the marketplace is the best option to choose health insurance coverage.
Retired or disabled and enrolled in Medicare
For states who have accepted Obamacare, the Medicaid and Medicare programs have been expanded. This means that people who are already covered by Medicaid or Medicare will now receive more benefits from their existing coverage’s. More discounts will be provided on prescription drugs and preventive care will be provided for free. Those who previously missed out on any one of this coverage’s in spite of being eligible can now apply for them on the marketplace.
Already have Health Insurance
People who already have a health insurance, which fulfills the all the minimum criteria’s as stated by the ACA can choose to follow their plan or can opt to select a new plan under the marketplace if their old plans are costly and don’t provide all the 10 benefits or doesn’t cover any pre-existing health disorders.
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I am authorizing a licensed Health Insurance Agent to review, to submit into a free plan or to refer my Health Insurance enrollment to a qualified entity whenever deemed necessary. I as a customer allow access to my Healthcare.gov or Medicaid accounts to make any updates/uploads as necessary and also to review and advise year to year, using any and all reasonable efforts to ensure that I the customer have a sound decision in my Healthcare plan for the year. I as the customer agree that I qualified for one of the many SEP’s during the year of 2022. (Ex: qualified for unemployment, Covid 19, Etc) I as a customer acknowledge receipt of HIPPA Privacy Information at the time of enrollment. By filling out and providing my personal information and signing, I certify that all of the above information is correct to the best of my knowledge and I give authorization to be enrolled into a free health insurance plan.
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