The Affordable Care Act, better known as Obamacare, has made it easier for Nevadans to get health insurance. It has helped tens of thousands of Nevadans access affordable health coverage, save money on their premiums and receive more preventive care.
However, the law is not perfect and there are still many people in Nevada who do not have health insurance. If you are one of those people, this article will explain how to apply for and enroll in Obamacare.
What is Obamacare?
Obamacare is the term commonly used to describe the Affordable Care Act, signed into law by President Barack Obama in 2010. It’s a federal health insurance program that makes it easier for individuals and small businesses to afford health insurance.
The ACA provides subsidies for lower-income people who buy insurance through the marketplaces. These include cost-sharing reductions and advance premium tax credits.
Until Obamacare was implemented, Nevada had one of the highest uninsured rates in the country. Fortunately, the number of uninsured people in our state has been falling since 2013.
The Silver State runs its own health exchange, Nevada Health Link, where consumers can shop and compare insurance plans. Seven insurance carriers offer individual plans for 2022, with open enrollment starting November 1.
How Does Obamacare Work in Nevada?
Before the ACA, most people who had a preexisting condition could be denied health insurance. This prevented them from receiving treatment when they needed it most. The ACA required that all insurance companies must cover people with preexisting conditions.
The ACA also made it illegal for insurance companies to charge more to people with preexisting conditions than to others. This increased competition in the insurance market.
To help lower the cost of insurance, government subsidies were approved for those who qualify. These subsidies are available on a sliding scale, depending on income, so that people at the lowest end of the income spectrum get the most assistance.
During the Open Enrollment Period in Nevada, anyone can shop for and enroll in a health plan that fits their budget and their needs. This includes people who have health insurance through their employer, are covered by Medicare or Medicaid or are uninsured.
How Do I Enroll in Obamacare?
Health insurance is essential for anyone who wants to live a healthy lifestyle and avoid excessive medical bills. Without it, you’ll be risking your financial future.
The ACA provides a variety of affordable and high-quality Nevada health insurance options to fit your needs and budget. There are plans available from a variety of private insurance companies, as well as public programs like Medicare and Medicaid.
Depending on your income and other criteria, you may qualify for federal financial assistance, including an Advance Premium Tax Credit (APTC) or Cost-Share Reduction (CSR). These subsidies are not mandatory, but they help lower your monthly premium and out-of-pocket costs, making it more affordable to get the coverage you need.
Nevada Health Link’s comparison tool lets you estimate costs and benefits of different plans, and check whether you might qualify for financial assistance. Navigators can also help you choose the best plan for you and your family.
What Can I Do if I Can’t Enroll in Obamacare?
Most people are eligible to enroll in health insurance through Nevada’s Affordable Care Act (ACA) marketplace, called Nevada Health Link. Plans sold on the exchange must meet ACA requirements, including a minimum set of essential benefits, and they can’t deny you coverage for pre-existing conditions or charge higher premiums because you have a chronic condition.
The ACA also provides financial assistance to lower your costs. These include subsidies that reduce your out-of-pocket costs and tax credits that help you pay for the cost of premiums.
If you can’t afford to buy a plan on the exchange, you may be eligible for Medicaid. Medicaid is a federally funded health program that provides free or low-cost healthcare coverage to people in need.
You can get free help to navigate the insurance process through Enrollment Assisters. These are trained, impartial helpers who are available to answer your questions.
