While Most of the people are searching about the Health care insurance of US, Commonly known as Obamacare. Here in this article I am going to provide the information of obama care and some of its benefits.
What is Obamacare?
The Affordable Care Act (ACA), officially called The Patient Protection and Affordable Care Act (PPACA) & also known as ObamaCare, is US law which reforms both the healthcare and health insurance sectors in America. The law was signed in march 2012.
The law mainly aims at affordable care insurance and to increase the availability, affordability and quality, of private and public health insurance sector & to give benefits to over 44 million uninsured Americans through its many provisions, which include new regulations, taxes, mandates, and subsidies.
Benefits of the obama care insurance :-
The obamacare affordable insurance plan include the new benefits, rights & protection. Let us look on the cheapest health insurance obamacare plan that will help the American People.
- Prohibit insurance companies from dropping your coverage if you get sick or make an honest mistake on your application.
- Eliminate pre-existing conditions and gender discrimination as reasons to decline coverage or raise rates so that you can’t be charged more based on your health status or gender.
- Let young adults stay on their parents’ plans until age 26.
- Protect against unjustified rate hikes and give you more rights to appeal insurance company decisions.
- Close the Medicare Part D ‘donut hole’ and keep Medicare strong for years to come.
- Creating Health Insurance Marketplaces where low-to-middle income Americans can compare plans and get lower costs on health insurance. There are three ways to get lower costs on the marketplaces: Tax Credits for lower premiums, Cost Sharing Reduction subsidies for lower out-of-pocket costs, and Medicaid. Cost assistance is only offered through your state’s marketplace or on the official Health Insurance Marketplace, HealthCare.gov.
- Expanding Medicaid to 15.9 million Americans to help “cover the gap” between those who qualify for cost assistance through the marketplace and those who qualified for Medicaid under previous Medicaid guidelines.
- Mandating large employers to provide coverage via the employer mandate and providing tax credits for small businesses who offer their workers coverage via the Small Business Health Options Program (SHOP).
In return for the new benefits and expanded coverage:
- ObamaCare mandates that everyone who can afford it must obtain and maintain health insurance (known as minimum essential coverage) throughout the year starting in 2014, get an exemption, or pay a per-month fee on their year-end Federal income taxes.
- Coverage can only be obtained during an annual open enrollment period. Annual open enrollment periods vary by insurance type.
If you have more query P