Obamacare revolutionized how Americans purchase health insurance. By making it easier and more people to gain coverage, and helping control health care costs by decreasing hospital visits and improving medical service delivery.
On November 1st, the Trump administration granted Georgia a waiver under Section 1332 State Innovation Waiver that allows them to depart the federal marketplace in 2023 and instead encourage people to enroll through insurers or online enrollment vendors, agents or brokers.
1. It changed the way we buy health insurance.
Before the Health Care Act came into force, finding affordable insurance was often impossible. People were often denied coverage due to preexisting conditions; children weren’t permitted to remain on their parents’ plans until age 26; and most policies only provided coverage for essential benefits at limited levels.
Now it is easier than ever to purchase the health plan that best meets your needs, either online or through a local insurance agent.
The Affordable Care Act has enabled millions of Americans to obtain affordable health coverage, thanks to tax credits and marketplaces. Health insurers must spend at least 80% of your premium dollars on providing medical care, rather than on advertising, overhead or bonuses for executives.
The Affordable Care Act has also helped those with preexisting conditions secure affordable insurance, and made preventive care accessible and free to most individuals – which translates into less hospital visits and decreased healthcare costs for everyone involved.
2. It changed the way we pay for health insurance.
Obamacare made it easier for low-income people to purchase affordable health insurance, and allowed people with preexisting conditions to obtain coverage. Millions of Americans have now obtained health coverage, with uninsured rates decreasing significantly since its passage in 2010.
The Affordable Care Act makes health insurance more accessible by mandating that insurers dedicate at least 80% of premium dollars toward medical care instead of advertising, overhead or bonuses for executives. It also holds them accountable to their customers regarding how their premium dollars are spent and charged for.
The Affordable Care Act also helped reduce healthcare costs by expanding access to preventive services and making prescription drug purchases more cost-effective for American families. Furthermore, copayments or cost sharing were no longer imposed on preventive services like screening for cancer, high blood pressure, cholesterol or immunizations.
3. It changed the way we get health care.
The Affordable Care Act has made health insurance more accessible, from lower premiums and subsidies for plans with high costs, to providing coverage to millions who had not been previously insured.
The law has also significantly altered how insurance companies work; no longer are they allowed to deny coverage or charge more due to pre-existing conditions, plus they are required to cover more screening procedures and provide free preventive care services.
As well as expanding Medicaid coverage and creating health insurance marketplaces to enable those with lower incomes to obtain affordable coverage at reasonable costs, tax credits have also been made available in these marketplaces to reduce premium costs as well as cost sharing (co-pays and deductibles).
The Affordable Care Act has led to an impressive decrease in uninsured rates across racial, ethnic and age categories as well as income levels, saving thousands of lives through making affordable health coverage accessible for more people.
4. It changed the way we pay for health care.
The Affordable Care Act has not only made healthcare more accessible, but has also altered how we pay for it. Insurance companies must spend at least 80 percent of your premium dollars directly on medical care and quality improvements rather than on advertising, overhead or executive bonuses.
The Affordable Care Act also mandates insurance companies to cover preventive services like cancer screenings and diabetes treatments without copays or deductibles, helping people avoid or postpone costly treatments in the future.
The Affordable Care Act also offers people with high deductibles the chance to receive tax credits when purchasing health insurance through an exchange, potentially helping lower costs across income levels.
