The Affordable Care Act, commonly referred to as Obamacare, was signed into law in 2010. It allows many Americans to sign up for affordable coverage on the health insurance marketplace; those earning above certain thresholds are eligible for subsidies that make these plans free.
This helps bring more people to exchanges, where they can also apply for Medicaid coverage.
Cost-sharing reductions
As part of its Affordable Care Act (ACA) mandates, the Affordable Care Act also offers assistance through cost-sharing reductions. These discounts reduce deductibles, coinsurance premiums and out-of-pocket maximums for exchange plan enrollees with incomes below 250 percent of federal poverty level (FPL). They’re only offered on silver plans; individuals who qualify receive one with reduced cost-sharing charges.
As when selecting marketplace plans, it’s crucial that people consider both forms of financial assistance when making their selection. Focusing solely on premium payments may lead to plans which don’t provide adequate coverage. To see if your estimated income falls within the threshold required to qualify for discounts using this tool. It will also display all silver plan variations which include them.
Preventive care
Before Obamacare was in effect, health insurance providers could refuse coverage for preexisting conditions or cancel your policy if your care requirements became more intensive than anticipated. Thanks to the Affordable Care Act (ACA), this practice no longer occurs and people can more easily find an insurance plan tailored specifically to their needs.
Under the Affordable Care Act (ACA), private health insurers are mandated to cover evidence-based preventive services without cost sharing from patients, such as screenings for cervical cancer and mammography screenings, immunizations and PSA tests for men over 50 and blood pressure checks on adults. This coverage must also apply to screening tests like PSA screening for men over 50 and blood pressure checks among others.
Anyone unhappy with their current health insurance can enroll in Obamacare from November 1 to January 31. In special enrollment periods, special circumstances can help qualify individuals to change plans with less stringent eligibility requirements.
Maternity care
Maternity coverage was once scarce in the individual health insurance market, offering only limited plans with expensive rider fees that quickly added up. Thanks to the Affordable Care Act (ACA), however, maternity care now forms one of the 10 essential benefits required by law and so has become far more accessible.
All new individual and small group health plans sold both inside and outside the Marketplace must include maternity benefits. Furthermore, pregnancy no longer counts as pre-existing conditions and women no longer incur higher premiums than men.
Women pregnant or considering becoming pregnant should enroll in a Marketplace plan during the open enrollment period, making sure to disclose that they’re expecting when applying. In addition, if their employment health coverage changes (for instance through loss), that may qualify them for a special enrollment period.
Mental health care
Mental health care is an integral component of overall wellness, as the effects of mental illness can have profound repercussions, including substance abuse and other medical problems. Luckily, the Affordable Care Act (ACA) makes healthcare more accessible for those living with mental illness through premium tax credits and reduced cost-sharing to make insurance more cost-effective for lower income individuals as well as free clinics and other assistance services that may be available through qualifying life events.
The Affordable Care Act (ACA) mandates that individual and small group plans provide mental health and substance use disorders coverage in an equal manner with other medical coverage, without exceptions or preexisting condition exclusions or higher premiums being charged; it also extends parity protections to larger group plans.
Essential health benefits
The Affordable Care Act makes health insurance accessible to everyone regardless of income, while offering consumer protections such as free preventive care and allowing young adults to remain on their parents’ plan up until age 26. Furthermore, this law helps lower costs by setting annual and lifetime coverage limits.
ACA marketplace plans must offer 10 essential health benefits that cover prevention, emergency services, hospitalization, prescription drugs and mental health care. They must also cover dental coverage for children as well as additional benefits like maternity care. At eHealth we have many plans that meet these criteria; costs vary by plan type – generally HMO and exclusive provider organization (EPO) plans tend to be cheaper than preferred provider organization (PPO) and point of service (POS).