Before Obamacare, it was difficult for many people to get health insurance. They couldn’t get it because of preexisting conditions or they had to pay a lot for a plan that covered only a limited number of services.
Thankfully, Obamacare has helped millions of people access health insurance. It also made it possible for those with low incomes to receive subsidies, so they can afford coverage.
What is Obamacare?
Obamacare is the name for the Affordable Care Act, a health care reform law signed by President Barack Obama in March 2010. The ACA makes individual health insurance more affordable and expands Medicaid coverage.
It also addresses the cost of preventive healthcare and other aspects of health care, such as requiring insurers to cover a list of essential health benefits.
ACA-compliant plans usually include a long list of free screenings and preventive services. They may also have low copays or deductibles, which lower your out-of-pocket costs over time.
Who is eligible for Obamacare?
The ACA includes advanced premium tax credits that help low-income individuals and families buy health insurance in the federal and state Marketplaces. These tax credits are paid directly to the insurance carrier each month to offset the cost of your monthly premiums.
People with household incomes below 400% of the federal poverty level are eligible for a subsidy. These subsidies are available for individuals, families, and small businesses.
How do I get Obamacare?
If you’re looking to buy a new health insurance plan, you can do so through an exchange (also called a health insurance marketplace) in your state. Some states operate their own marketplaces, and others are run by the federal government.
There are different types of Obamacare plans and each one has a different level of coverage. You’ll want to compare premiums, deductibles, and benefits to find the best plan for you and your family.
Can I get Obamacare if I lose my job?
If you lose your job, you may be able to keep your employer-sponsored insurance (ESI). This is possible through the Consolidated Omnibus Budget Reconciliation Act (COBRA), which requires employers with 20 or more employees to offer continuation coverage.
You also might qualify for subsidized health coverage through the marketplaces. However, it’s important to check with your state’s marketplace for specific eligibility requirements and rules.
Can I get Obamacare if I get sick?
If you get sick or hurt and can’t afford the high out-of-pocket costs of a regular health plan, Obamacare offers an alternative to Medicaid. You can buy a policy through an exchange or a private insurer, and get financial assistance that reduces your monthly premiums.
Under the ACA, no insurance company can reject you or charge you more because of a health condition you had before your coverage began. This protects you from higher out-of-pocket costs and helps prevent costly hospital visits.
Can I get Obamacare if I get pregnant?
Pregnant women can get a health plan that covers maternity care under the Affordable Care Act (ACA). You won’t have to wait until the next open enrollment period to add pregnancy coverage if you have an ACA-compliant health plan.
Some plans also include supplemental maternity insurance, which makes cash payments directly to you for your health care costs during pregnancy. Those options may be available through your employer or directly from a health insurance company.
Can I get Obamacare if I get divorced?
Divorced individuals often struggle to find health insurance. In these situations, Obamacare can be a helpful option.
If you are a divorced individual, you may be eligible for a Special Enrollment Period (SEP). This gives you 60 days to shop and enroll in a plan through the state exchange or the federal marketplace.
You can also enroll in short-term health insurance, which can protect you against certain medical expenses for a limited time. These plans are inexpensive and can kick in as soon as the day after you apply.
Can I get Obamacare if I get married?
If you get married, you’re eligible for a special enrollment period that allows you to enroll in a health plan outside of open enrollment. This special period can be helpful if you need coverage right away and don’t have time to wait for open enrollment.
You can also use this time to add a spouse or dependents to your insurance plan. It’s important to make sure you choose a family plan that’s affordable and covers your needs.
