AFFORDABLE CARE ACT FAQs

The Affordable Care Act (ACA), also known as Obamacare, was signed into law on March 23, 2010 by President Barack Obama. The ACA was designed to allow more people in the United States to find affordable health insurance, ensure coverage with pre-existing conditions, and stay protected if you already have insurance. More people within the country are able to afford health insurance because the coverage plans offered through ACA are found at a significantly reduced cost. Also, the ACA ensures that anyone with pre-existing conditions cannot be discriminated against when it comes to health insurance. The ACA also protects those who already have insurance by preventing companies from canceling policies when someone gets sick, as well as restricting how much individuals and families have to pay out-of-pocket costs for in-network care.

The Affordable Care Act is an insurance plan that ensures lower costs, access to preventative care, and more quality coverage for millions of people. There are four different “metals” and tiers for coverage with the Affordable Care Act, bronze, silver, gold, and platinum.

• The bronze metal plans allow for the lowest premiums with the highest deductibles. This plan might be a good fit for you if you’d like to prepare for the worst-case medical issues.

• The silver metal plans have moderate premiums and costs. This plan may be your best fit if you’d like to have a lower premium.

• The gold metal plans tend to have low costs with high premiums. This plan may suit your needs if you consistently need medical care.

• The platinum metal plans usually have the lowest costs with the highest premiums. This plan may be the right choice if you can afford a high monthly premium and receive frequent care.

In order to be eligible to enroll in the Affordable Care Act, you must be one of the following:

• Live in the United States

• Be a U.S. citizen or national, or a lawfully present non-citizen in the U.S.

• Not be incarcerated

• Your household income must be at or above the Federal Poverty Level

You cannot enroll in the ACA if you are eligible for Medicare, Medicaid, Children’s Health Insurance Program (CHIP), or have access to affordable coverage through an employer.

Open Enrollment is from November 1 through January 15.

For coverage to begin January 1: Enroll or renew plan between November 1 – December 15.

For coverage to begin February 1: Enroll or renew plan between December 15 – January 15.

If you qualify for a Special Enrollment Period (SEP, you may be eligible to get a health plan outside of the Open Enrollment Period. You may be eligible for an SEP if you have gone through a qualifying event. These events include moving to a new county, getting married, having a baby. etc.

The goal of the ACA is to not only improve the quality of health care and health insurance, but also reduce the spending related to health care in the U.S. By reducing the cost of coverage for those who qualify for it, the ACA is meant to help more people in the U.S. gain health insurance coverage.

Receiving financial assistance depends on information such as your household income, your family size/individual ages, and where you live. To those who qualify, the government may be able to help pay part of the monthly cost of your health plan.

The open enrollment is between November 15 through January 15. For coverage to begin January 1, enroll/renew your plan by December 15. For coverage to begin February 1, enroll/renew your plan by January 15.

No, there is no difference as they are the same thing, just different names. The Affordable Care Act is the formal name, while Obamacare is the unformal name. The unformal name originates from the fact that the ACA was signed into law during Barack Obama’s presidency.

No, you may be eligible for a Special Enrollment Period (SEP) if you have experienced a qualifying event. These type of events include getting married, going through divorce/legal separation, having a baby/adopting a child/placing a child in foster care, the death of a person on your plan, loss of health coverage, change in income, becoming eligible/losing eligibility for subsidies, losing eligibility for Medicaid/Medicare, moving to a new county, gaining/losing U.S. citizenship/lawful immigrant status, turning 26, or exceptional circumstances such as natural disasters.