The Affordable Care Act, Easier Access to Health Care
April 14, 2015 Assumptions 0 comment mshedd15
The Affordable Care Act, otherwise known as Obamacare, is a health reform that was effective as of January 1, 2014. The Affordable Care Act requires businesses of over fifty employees to provide health insurance and also requires individuals to purchase health insurance if they do not already have it. Obamacare creates a new marketplace for health insurance with the concept that if everyone is required to have insurance, then the prices of insurance will fall based on the large quantity of consumers.
The Affordable Care Act was brought to the attention of Americans for the first time during President Obama’s first term. During his second term on March 23, 2010 it was signed into law. The Affordable Care Act became effective January 1, 2014 and will continue to change over the next five to ten years. The Affordable Care Act requires Americans to purchase health insurance in a package either from their place of employment or through the new insurance marketplace or pay a fee.
The new marketplace of health insurance is open to anyone living in the United States who is a legal citizen. The marketplace offers insurance for preventative care, pre existing conditions, and essential health benefits. The marketplace also offers tax premiums and exemptions to those who need them. Based on your income, if you qualify for reduced premiums and purchase health insurance through the marketplace, then there is a good chance that you will be paying less than if you have a private form of health coverage. Americans can purchase a catastrophic plan through the marketplace. This plan helps cover the patient if they have a terminal illnesses, long term disease, or other serious medical conditions.
The Affordable Care Act is a new way for Americans to get health insurance at a less expensive cost. People who work at companies with more than fifty employees will now have access to insurance. The entire plan is meant to reduce the cost of healthcare by eliminating patients without health care.
