Frequently Asked Questions
The world of health insurance can be confusing, here are some frequently asked questions and answers that can help you understand the Affordable Care Act & ObamaCare.
"ObamaCare," officially known as the Affordable Care Act (ACA), is a major U.S. healthcare reform law signed by President Barack Obama in 2010. It aimed to make health insurance more affordable and improve its quality. Obamacare established Health Insurance Marketplaces, also known as exchanges, where individuals and families can shop for and purchase private health insurance plans. These Marketplaces aim to create a more competitive and transparent environment for obtaining coverage. To make health insurance more affordable, Obamacare introduced subsidies and premium tax credits for individuals and families with lower incomes. These financial assistance programs help reduce the cost of monthly premiums.
Common types include Health Maintenance Organization (HMO) plans, Preferred Provider Organization (PPO) plans, and Exclusive Provider Organization (EPO) plans. Plans have 'metal tiers' that change monthly premiums and out-of-pocket costs when you receive medical care.
The cost of an Obamacare plan can vary widely depending on several factors like income, plan tier, family size and more. It's important to note that there are subsidies and premium tax credits available to help make health insurance more affordable for those with lower incomes. These financial assistance programs can significantly reduce monthly premium costs.
To get an accurate estimate of the cost of an Obamacare plan based on your specific circumstances, you can speak with a licensed insurance agent who can assist you in navigating the available options and subsidies. Additionally, during the annual Open Enrollment Period, you can explore and enroll in health insurance plans through the Marketplace.
Open Enrollment is the annual period when you can sign up for, switch, or make changes to your health insurance plan. It’s the primary time each year to enroll in a new plan, update your coverage, or switch to a different insurer. During this time, you can: Choose a new health insurance plan. Add or remove dependents. Update your coverage details. Missed Open Enrollment? You can only get coverage outside of this window if you qualify for a Special Enrollment Period due to life events like marriage, having a baby, or losing other health coverage. To explore your options and apply, visit our website or reach out to us for personalized assistance!
Health insurance typically covers a wide range of medical services to help you stay healthy and manage unexpected healthcare needs. Most plans include: Doctor Visits – Primary care and specialists. Preventive Care – Routine check-ups, vaccines, and screenings at no additional cost. Hospital Stays – Coverage for inpatient services, surgeries, and emergency care. Prescription Drugs – Medications prescribed by your doctor. Mental Health Services – Counseling, therapy, and substance abuse treatment. Maternity and Newborn Care – Prenatal visits and childbirth. Specific coverage depends on the plan you choose. To see what’s covered and find a plan that fits your needs, visit our website or contact us for help!