Affordable Care Act health insurance plans can be purchased in the Marketplace, as well as applying for free or low-cost Medicaid and Children’s Health Insurance Program (CHIP).
The Affordable Care Act protects those with preexisting conditions by mandating that all plans cover essential health benefits and banning lifetime limitations on benefits.
How do I sign up?
Whether your health insurance comes through work or state exchange, taking the steps to sign up for an Affordable Care Act-compliant plan can maximize its value. This process involves filling out an application, selecting a plan and paying any outstanding premiums (if necessary).
There are various resources available to you to assist in the Affordable Care Act enrollment process, such as patient navigators services at Westside Family Healthcare in Wilmington or in other locations across Delaware.
The Affordable Care Act is making accessing quality health care more accessible than ever and decreasing out-of-pocket medical expenses.
To learn if you qualify for the Affordable Care Act (ACA), our Find Local Help tool or calling 2-1-1 are two great resources. In addition, there are trained “navigators” who can assist in filling out your application and signing you up for an ACA-compliant plan.
What if I don’t qualify?
The Affordable Care Act, commonly known as Obamacare, offers financial aid to those unable to purchase health insurance on their own. Subsidies available through Obamacare include tax credits and cost-sharing reductions that offer extra savings on out-of-pocket costs such as deductibles, copayments and coinsurance premiums.
Under the Affordable Care Act (ACA), health insurance providers cannot increase your premium if you have a pre-existing condition or turn you down because of one. They must also not turn you away or cancel your policy due to your medical history or any other factor.
Finding an affordable plan may not always be straightforward. Your premiums could depend on various factors like household income, medical expenses and your health status.
People whose health insurance costs exceed eligibility limits for subsidy assistance often fall below what’s known as the “subsidy cliff.” For 2021 and 2022, however, the American Rescue Plan has removed this income cap allowing you to qualify for subsidies even if your income exceeds 400 percent of federal poverty level.
What if I miss the deadline?
Though the deadline to enroll for 2023 Marketplace coverage is January 15, there are options if you miss that date. Some states allow enrollment even after that deadline (though it’s still wise to confirm your information and plan before time runs out).
Your experience could also qualify you for a special enrollment period, which enables you to shop for insurance outside of open enrollment. A special enrollment period could even last as little as 60 days!
Qualifying events include moving to another state, getting married and having children, losing your job/health insurance plan/income below certain thresholds or your income decreasing below this threshold.
Check your state’s health insurance exchange website or call center rep to see if a special enrollment period applies; most people, however, must wait until January or February’s open enrollment period before signing up for coverage that starts this year.
How do I find a plan?
The Affordable Care Act, commonly known as Obamacare, revolutionized health insurance by offering tax credits to help lower premiums and make insurance more accessible and affordable. You can locate plans meeting ACA criteria by browsing marketplace listings in your area.
NY State of Health offers an interactive calculator and comparison tool that will allow you to estimate costs and compare plans from various providers. Furthermore, this interactive calculator can also determine if you qualify for financial assistance or not.
No secret exists regarding the high costs associated with healthcare in America, which is why the Affordable Care Act provided a new and improved online marketplace where shoppers could shop for insurance, get free quotes and explore financial aid options in order to purchase maximum coverage at their budget. Furthermore, this tool has various other useful tools designed to make health insurance experience as seamless and enjoyable as possible.