What is Obamacare

Many Americans are still confused on what changes are to come with the Affordable Care Act and Healthcare Reform, also known as Obamacare. Here are the most important changes to individual and families who have to purchase their own health insurance:

  • Any policy effective 01/01/2014 and later will have no underwriting and no penalties for pre-existing.
  • Individuals and Families who pay for their own insurance, will receive Federally subsidized rates. So the US Government will help pay for up to 100% of your health insurance premium. It is estimated 56% of Americans will qualify for a subsidy.
  • Starting January 2014 you must have health insurance or you will receive a penalty on your 2014 tax return. The penalty is up to 1% of your earnings and it goes up to 2.5% of your income.
  • If you buy your own health insurance you must sign up during Open Enrollment. Open Enrollment is currently closed but will re-open 11/15/2014.
  • If you are trying to buy coverage outside of Open Enrollment you must apply for a Special Enrollment.


7 thoughts on “What is Obamacare

  1. I am married with 5 children at home. We are self employed. We qualified for medicaid in the state of Ohio for the past several years. I am working to improve my income as I have gone back to school and now I am preparing to get my state license in a trade. Paying for insurance is nothing new to me, being self employed it’s a big part of my business and a major cost. I might have to continue using the medicaide program unless demand for my services goes up substantially… I’m concerned about the having to wait until 2015 to sign up if things change for me..I guess I can just pay the penalty. I plan to wait and see what happen to the economy and my business?

  2. Open Enrollment ended on March 31, 2014. Effective April 1, 2014 – November 14, 2014, individuals must experience a Qualifying Life Event (QLE) to be eligible to enroll for coverage during a Special Enrollment Period (SEP)

    Individuals who experience a QLE can get enrollment assistance through this site. Our staff can help determine the impact on any financial assistance with Advance Premium Tax Credits and/or cost sharing reductions.

    In most situations, the SEP window is 60 days from the date of the event; however, individual major medical plan renewal outside the Open Enrollment period has 60 days prior and 60 days after the plan renewal date for a SEP. To be eligible for coverage, the individual must enroll during the SEP window. Individuals, who don’t have a QLE and qualify for an SEP, will not be able to purchase coverage until the next Open Enrollment period begins on November 15, 2014.

  3. The affordable care act that has recently come into place has changed how the process of insurance is all the way around and there for how you are to pay for your health care expenses. The affordable care act requires that all Americans buy health insurance with or without assistance depending on what they qualify for. With no coverage at all an American will pay a tax at the end of the year for the penalty of not having Obamacare insurance. However though that is the main thing it also involves many other things that require the health insurance industry to change drastically, one of those is that if everyone is required to have health insurance that means the American people that once were denied health insurance because of too many pre-existing conditions that would be a huge risk for the insurance companies to take on can no longer be denied. For the American people across the board this means that if no one can be denied health insurance than the price of health insurance and thus going to raise drastically to make up for the cost of those that were once denied because the amount of medical care that they require and did so before health insurance is so great. For many that cannot afford health insurance it is also causing the amount of Medicaid in the states to expand however states do now have the option to refuse to expand the amount of Medicaid given out. The law is assuming that those that cannot afford health insurance can get help from the state or government of some sort to pay some of the cost for the health insurance. Another change is insurance companies now have enrollment periods much like those with insurance from the company that they work for. However applying for Obamacare with the government’s assistance is a little bit different you have to apply through the Obamacare site in which you enter your personal information about you for health insurance along with what you normally work for say Medicaid so you also have to enter your income information. Applying for Obamacare though different is not impossible or that hard of a process at one point there were problems with the site for some but those have been resolved. The change that Obama care has made to the health insurance industry is that it requires everyone to have health insurance in hopes that no one is left in the dark without health insurance and the ability to see a doctor.

  4. Obamacare has sought to offer affordable health insurance to the citizens of America. It also seeks to improve the quality of health care service and issues to do with health insurance. Obamacare seek to regulate health insurance and generally reducing the amount spent on health facilities by the citizens of the US. This was passed through the affordable care act that was passed as a law that contained various aspects that sought to handle the crisis of health care in the US. Applying for my Obamacare was as simple as I never imagined. It is just like the regular insurance purchasing. The only difference is that goodly, Obamacare Insurance has been made an online venture. It simply takes you the least of efforts of sitting down before your computer and applying for the insurance. However, some people would opt to do it manually, and this is the case when there is a problem with e system. The problem with the manual application is that they tend to take along time, and it will really cost you in terms of the constant travels to their offices. It should also be noted that not everybody is guaranteed this service. Factors like residence outside The US or being a prisoner during application would lead to eventual disqualification.

    I had to apply for my Obamacare since the situation of my family could not really gather for expensive medication, and I must confirm that it has really assisted me a big deal. I get to access the best medication around the state with the least of a strain of my financial accounts. Obamacare has intervened just in time so that I do not have to worry much about health related bills. Many people have shied away from this service on the mere thought that it is an expensive venture and would really tamper with their finances. My Obamacare did not absolutely strain my account in that I used Cost Sharing Reduction subsidies which aimed at reducing my out-of-pocket costs and is sure has lowered.

    The issue of cost should not be therefore taken to be such a scaring factor. Considering the kind of service I get back from his service, I consider it worthwhile. This is for the good of Americans as it would cost us around ten dollars to get this insurance on the health insurance marketplace. However, it should be noted that it depends on the type of subsidy one is using as there is a light variation in prices.

    As to whether I have liked the service I am being offered, the answer would be obvious. It is very perfect, and it generally improves the quality of life as the amount I would have spent on health related issues, I channel the same to other worthwhile ventures or simply save them for future tasks. I would rather one applies for the same as it won’t even take your time nor a lot of money. You just apply for it and sit down and wait while the involved takes care of the act of covering your health.

  5. When it comes to women , ObamaCare offers many pros and few cons. 47 million women will gain access to women s health services, including preventive and wellness services. Many of ObamaCare s new benefits for women are required by law to have no out-of-pocket payments. Also, insurers can no longer charge women more than they charge men or charge men more than they charge woman.

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