Affordable Care Act
The Affordable Care Act has been in effect since 2010 and has made widespread changes to the health care industry since then. It affects virtually all Americans, thanks to the individual mandate, provisions for those with pre-existing conditions and new regulations for employers, health care providers and insurers.
Between 50 and 129 million Americans have pre-existing conditions, such as diabetes, heart disease, depression or cancer. These types of conditions have long led to difficulties obtaining affordable health insurance. Some insurers would charge steep premiums for policies that restricted coverage for the pre-existing condition while others simply refused to offer coverage at all to those with pre-existing health conditions. The Affordable Care Act ensures access to care for the 20 percent of those with pre-existing conditions who are currently uninsured and more affordable access for all those with pre-existing conditions.
The Affordable Care Act also encourages employers to provide insurance coverage for their employees. Most Americans today obtain their health coverage through their employers. Not all employers offer insurance, however, which can lead to those who lack coverage struggling to find a policy on their own. Thanks to the insurance exchanges set up through the Affordable Care Act, small businesses and individuals will be able to locate the best policy for their needs. Low-income individuals and families can benefit from improved access to state health coverage as well as credits to help them purchase their own plans. Whether you are an employee, an employer or you are simply looking for the best plan at the best price, the health care reform act will affect you.
The insurance exchanges will encourage competition among insurance providers and make it easier for consumers to compare various plans, premiums and options. Our insurance professionals can help you learn more about available insurance plans and how the Affordable Care Act will affect you or your family. Give us a call today!