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Affordable Care Act Explained
Building a foundation of understanding about the ACA
Signed into law in 2010, the ACA was designed to extend health insurance coverage to as many Americans as possible. By its institution in 2013, it contained over 20,000 pages and created over 150 government agencies. It has only grown more complex over time, but the most important things to know are shown below.
What is the Affordable Care Act, or Obamacare, in simple terms?
The ACA, passed in 2010, created the Marketplace with the goal to make health insurance affordable for all Americans who do not get coverage through an employer. It utilizes federal subsidies that pay for a portion of the cost of the plans for those who qualify.
The Affordable Care Act ensures Americans who are not offered health insurance benefits through an employer are still covered affordably.
The affordability component is achieved through the issuing of subsidies, or tax credits.
How much do Obamacare plans cost per month?
The monthly cost, or premium, varies greatly from person to person and depends on many factors.
The biggest determinant is whether or not you qualify for a subsidy.
This depends on a variety of factors.
Plans with better coverage tend to be more expensive (as expected).
The biggest determinant of cost is how much of a subsidy you qualify for, as the plans are very expensive without them.
What is a subsidy or tax credit?
A subsidy, or tax credit, is the full or partial payment of the cost of your plan. Subsidy amounts depend on many factors.
For those under 150% of the Federal Poverty Limit, plan options that are fully subsidized will be available meaning it costs absolutely nothing to enroll.
Subsidies are tax credits offered by the government that pay for some or all of the cost of an insurance plan.
Subsidies are explained further here.
I don't want to read about confusing legislation and would prefer to speak to an expert. Are there any fees with having an agent help me enroll or answer questions?
While some agencies may charge a consultation fee, all advice and help that is offered at Elevate Insurance Solutions is completely free of charge.
This year is more confusing than ever so having a licensed professional on your side is a safe and smart choice.
While some insurance agencies charge consultation or application fees, that structure violates the Elevate Insurance Solutions mission. All help is always 100% free of charge to you.
Please contact us for answers to all of your questions or help with enrollment.
Coverage Details
Do Marketplace plans have good coverage?
There are a variety of coverage options available to fit every need and every budget.
In my experience, people are pleasantly surprised when enrolling in Obamacare coverage for the first time.
Many Marketplace plans offer better coverage than employer-sponsored plans.
The level of coverage you get will all depend on the plan you pick. In general, the coverage is good, especially with the Silver Enhanced and the Gold options.
Are pre-existing conditions covered by ACA plans?
Yes! Pre-existing conditions are one of the protected classes created by the Affordable Care Act.
Yes! Pre-existing conditions are covered as they are a protected class created by the Affordable Care Act.
Is mental health covered under ACA plans?
Yes! Mental health is one of the protected classes created by the Affordable Care Act.
Yes! Mental health is covered as it is one of the protected classes created by the Affordable Care Act.
Does Obamacare cover dental and vision?
No, vision and dental plans are available for purchase separately.
The one exception is Friday Health Plans
No! Dental and vision plans are available separately, but they are not included in Marketplace health insurance plans.
To get a dental or vision quote, contact us.
Related Programs and Legislation
What is the difference between Medicaid and Obamacare?
Medicaid is a government coverage program for low income households.
Obamacare is comprised of health insurance plans that individuals choose through insurance companies made affordable by subsidies from the government.
What is the difference between Medicaid and Medicare?
Medicaid is a government coverage program for low income households.
Medicare is a government program for individuals who are over 65 or those who have been on disability for two consecutive years.
What was the American Rescue Plan?
The American Rescue Plan went into effect 4/1/21 and provided sweeping changes to the Affordable Care Act.
The income cap of 400% of the Federal Poverty Limit was removed and subsidies were increased. It is is important to have looked at your coverage options since to maximize your savings.
Is the Obamacare "Individual Mandate" penalizing those who don't have health insurance?
The individual mandate, which required all Americans to have health insurance, is no longer active.
While it may not be required, it is highly recommended to at least look at your options by getting a quote or asking for assistance.