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HEALTH INSURANCE
Affordable Care Act
The Affordable Care Act (ACA) is the name of the health care reform law and its amendments, which address health insurance coverage, costs, and preventive care. The Affordable Care Act is often referred to as Obamacare since it was signed into law in March 2010 by President Barack Obama.
The law has 3 primary goals:
- Make affordable health insurance available to more people. The law provides consumers with subsidies (“premium tax credits”) that lower costs for households with incomes between 100% and 400% of the federal poverty level (FPL).
- If your income is above 400% FPL, you may still qualify for a premium tax credit.
- If your income is at or below 150% FPL, you may qualify to enroll in or change Marketplace coverage through a Special Enrollment Period.
WHY IS HEALTH INSURANCE SO IMPORTANT?
No one plans to get sick or hurt, but most people need medical care at some point. Health insurance covers these costs and offers many other important benefits.
- Health insurance covers essential health benefits critical to maintaining your health and treating illness and accidents.
- Health insurance protects you from unexpected, high medical costs.
- You pay less for covered in-network health care, even before you meet your deductible.
- You get free preventive care, like vaccines, screenings, and some check-ups, even before you meet your deductible.
UNLESS YOU'RE IMMORTAL, YOU NEED HEALTH INSURANCE!
