Obamacare Plans
Plans Last Updated: June 13th, 2021

Consumer Resource Guide to Understanding the Health Insurance Marketplace

There is an overwhelming amount of information in regards to your health insurance options, as well as new legislature, laws, and even penalties that not everyone may be aware of. The resources and articles provided here will enable consumers to gain the understanding they need of crucial elements affecting their personal health insurance needs.

You can begin your research now by clicking relevant links and articles below that pertain to questions you may have regarding your health insurance options.

A Simple Guide to The Affordable Care Act (ACA) and the Patient Protection Act

Who Will Receive Access To Health Care?

American citizens' access to health insurance increased in 2010. The federal government enacted The Affordable Care Act (ACA) and the Patient Protection Act.

The Acts create more opportunities for people to buy health insurance. By requiring all citizens to carry health insurance, regulation encourages marketplaces to form. To make sure everyone adheres to the new rules, those who do not comply receive a federal tax penalty. The marketplace is open to individuals, families, and small businesses to buy from.

What Are The Expected Outcomes?

Increasing the kind of care each person is able to receive changes the health care system as a whole. Regulating costs for visits and procedures contains earlier costs for citizens. It also provides greater access for all. Insurance companies are now able to create simple pricing. More people with coverage creates a larger marketplace to control potential loss for companies. There is no need to discriminate with higher costs. Before pricing was based on finite factors including; ethnicity, age, gender, and health history.

When Can We Expect The Change?

Legislation moved forward on March 23, 2010 and began to take effect in 2014. Each year more standards will trigger and take effect. 2020 will be the first year all changes will be in full effect.

What Will I Get Out Of This?

Insurance companies must meet basic qualifications to compete in the ACA marketplace. Increasing people's ability to find coverage also increases the market size. Americans are now able to receive insurance in spite of any pre-existing conditions. Ageism and sexism are also not applicable in receiving insurance.

What About The Insurance Companies?

Insurance companies have relied only on competition to control what they offer. With ACA in effect, all policies must be a certain standard. Policies that do not qualify include minimal coverage. Preventative care is also pushed forward and rewarded. Co-pay and deductibles for preventive care are not included in any insurance policies. Low-income households have greater access to Medicaid and subsidies to get health insurance.

Will Businesses See a Change?

The ACA offers small businesses more options for their employees. Small businesses can now offer benefit packages that were too expensive or burdensome before.

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