Facts about Obamacare
- The Obamacare is the unofficial name of the patient protection and affordable care act of March 2010.
- The Obamacare aims to provide quality and affordable health care for all Americans and thereby reduce national spending on health care. A huge number of Americans who couldn’t afford a health insurance can now get one at subsidized rates.
- It is now mandatory for all Americans Citizens and Legal Immigrants have a health insurance policy or pay an annual penalty.
- It stops discrimination by health insurance companies based on factors such as gender, previous illness etc.
- Parents can now keep their children of up to 26 years of age on their health care plans.
- New Exchange Marketplace is being set up where Health Insurance can be bought at subsidized rate
- One can enroll in any health care plan under Obamacare during open enrollment period.
- The coverage of Obamacare commenced from 1st Janurary 2014.
- If you are already covered by a plan – you can choose to keep it or look for a better plan.
- The Obamacare has set benchmarks for all insurance plans. All insurance plans starting after 2010 must also provide the 10 essential health care benefits along with other benefits.
- The Act aims to make preventive health care free on all plans and provide tax benefits to all employers who cover their employees for health insurance.
- 2015 onwards all small businesses with over 50 employees must cover them for health care.
How Does Obamacare affects you?
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