👋 How Can We Help Make Health Care Better?
Health Care Guides, Health Plans
ObamaCare is a set of laws meant to provide US citizens with greater access to healthcare. It contains many different articles focused on improving specific elements of the healthcare crisis in the U.S. ObamaCare aims to ensure more Americans are covered by health insurance, to decrease the cost of healthcare-related spending, and to improve the quality of the health insurance available.
ObamaCare is actually a nickname—the full title of this set of laws is the “Patient Protection and Affordable Care Act.” The act was officially signed by President Obama on 3/23/2010.
What are the main elements of ObamaCare?
ObamaCare is an expansive set of provisions, but here are some of the main components:
Note: HealthCare.Gov is the government’s official website where you can shop for plans and and see if you qualify for Medicaid.
Where did ObamaCare come from?
ObamaCare was championed and signed into law by President Obama. However, the ideas behind ObamaCare come from goals implemented over the years by both political parties. In fact, one major inspiration for the idea was “Romney Care”, a health insurance reform law passed in Massachusetts by Mitt Romney.
More details on ObamaCare
You may be curious about what ObamaCare means for you specifically. Here are some facts that will help you get a better idea and aid you in your search for reasonable health insurance coverage.
What is the Marketplace?
The health insurance marketplace, or the exchange, is a place where people can go to compare and pick health insurance plans. It also offers cost assistance. Every state has its own marketplace for health insurance.
Through the marketplace, many people are eligible for subsidies on health insurance. This amount can be anywhere between 2% and 9.5% of your Modified Gross Adjusted Income.
If you don’t have a life-changing event, the marketplace is only available during open enrollment. Be sure to purchase health insurance during open enrollment to avoid paying any penalty fees. Also, note that insurance bought prior to the 15th of each month starts on the first of the next month.
ObamaCare going forward
ObamaCare has continued to expand since its inception in 2010.Individual and employer mandates helped more Americans gain access to health insurance. In 2016, employers provided insurance to over 95% of full-time employees. Most of the major provisions of ObamaCare are now already in place. By 2022, all of the PPACA’s provisions should be in effect.
What are some other elements of ObamaCare?
We hope this article helped you understand ObamaCare better. The more you are educated on its components, the more power you have to make informed healthcare decisions. SureCo Health and Life agents are certified Federal marketplace agents. To speak with an agent, please call (866) 235-5515.
If you have questions about any of the numbers you’ve come across here, or you would like to know more about your plan options, give SureCo a call at (866) 235-5515. We offer completely free health insurance consultations to anyone that needs them. You can also explore our website to easily sort through your options and shop plans.