Never Miss A Deadline
other important information.
The Affordable Care Act or better known as Obamacare promises to ensure basic health insurance to all Americans. Formulated in the year 2013, this act focuses on the health needs of the millions of Americans who are left stranded and deprived of basic treatments due to unavailability of a well regulated and affordable health insurance plan. Recent studies have shown that many Americans tend to shy away from purchasing an insurance cover even though if it is quite suitable for their pockets. Obamacare also addressed this issue with a firm hand. During the time of its inception the percentage of uninsured adults in the US stood at almost 18%. But this rate lowered down 10.9% by the first quarter of 2016, indicating the huge success and potential of the ACA. Additionally adding almost 15 million new persons availing the Medicaid insurance plans. The Act strives to achieve a uniformity in health care aspect. Senior people are charged very less whereas young adults are charged more in order to maintain a balance among all age section of the society. Thus uplifting the society as a collective responsibilities of everyone living in it. However since its introduction, widespread controversies, misinformation and misinterpretation of its clauses has led to many court cases which in turn has left many people speculating on the significance and substantial benefits of signing up for this plan. Below are some of the important facts about Obamacare.
The major aim of the Affordable Care Act is to provide the people with more affordable options to choose from with regard to their health insurance with increased security and more rights. In essence this Act has ensured that people who already have medical insurance covered by their owners or through private insurance companies can extract more returns. Time Limit The ACA has a time limit for enrollment, failing which can draw a hefty fine on the part of the buyer. Previously the government had instituted flexible time limits for the people to register for this scheme but according to recent news the time limit has been reduced to 45 days in 2018. Free Enrollments for availing Obamacare started from November 1st till December 15th (as in 2017) prior to which defaulters were slapped with a hefty fine as part of their annual taxes. This has been done to emphasize the growing need of health insurance especially in young people from an early age. However adults who are insured by their employers are given the flexibility to follow their employer’s schedule. Increased Insurer Accountability One of the major complaint of many insurance holders is the premature bailout of their insurers for no apparent reason at all or increasing the premium limit from time to time. Many court cases have also been registered pertaining to various forms of discrimination on the part of the insurers related to women and senior citizens. In order to address this gross misbehavior and misconduct the ACA was introduced which guarantees more accountability on the part of the insurers. As part of this act all forms of discrimination is prohibited along with unrealistically long waiting times and payment exclusions in case of an existing medical condition. The policy holders are given options to challenge any decision on the part of their insurers of not making payments, in courts, thus further strengthening their chances of availing lifesaving medical treatment in times of serious medical emergencies. The insurers are also expected to cover all expenses pertaining to routine treatment for serious diseases like cancer.