Affordable Care Act

8 August 2016

The Marketplace is a new method of finding health coverage that best fits an individuals needs and budget. Prior to the Affordable Care Act being approved, individuals were not able to acquire health insurance benfits as easily as it is now. Individuals simply apply for coverage based on options that available on the Marketplace website. Regardless of the state one lives in, he or she is able to compare health insurance plan options to determine the exact fit for what he or she needs.

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Under the new Marketplace, consumers are allowed to apply for insurance even if he or she has a pre-existing condition. The law protects them from being denied coverage. Applicants must apply by March 31, 2014 for 2014 open enrollment and apply between November 15, 2014 and January 15, 2015 for 2015 open enrollment. Consumers are able to apply and save money when choosing the health care option he or she wants. They can preview the Marketplace health plans and prices available in each area. Premiums listed should should what consumers will save and qualify for based on their income.

If consumer’s income is considerably high, he or she can purchase coverage through an insurance company, broker, internet or through the Marketplace, it is their choice regardless of income. Of course if consumers are in the lower income bracket, they simply apply according to the income level. Consumers have to provide household information, along with household income to qualify for lower income benefits. Young people have various choices when it comes to Marketplace insurance. If the young person does not have coverage and is on their parentsinsurance, he or she can remain on their parents insurance until they reach 26 years old. However, young consumer can purchase insurance for themselves if they so choose. Consumers on 30 and some consumers with limited income can buy a “catastrophic” health plan. This plan protects and covers them from high medical costs and makes it reasonable for them to afford. If young consumers are pregnant they can buy insurance that covers the pregnancy and childbirth. Every person should have some type of health insurance coverage because they may get sick at any time.

If individuals do not get health insurance they may have to pay a fee and pay for all of their care. There are health insurance Basics. Every consumer is recommended to purchase coverage whether it is from the Marketplace, private insurance company, broker or internet. Consumers risk paying fee and paying out of pocket for all of their medical costs if they do not purchase insurance coverage. Some consumers can get an exemption from paying a fee in certain cases, but have to apply in order to learn the exemption requirements.

If individuals do not have insurance and need insurance immediately, they have to apply through the Marketplace during the open enrollement period. If they miss the deadline for the enrollement period, they can apply to the Marketplace but the coverage will depends on what is available and what they qualify for. Otherwise, consumers will have to wait until open enrollment for the next time. Insurance is available for all individuals whether full-time, part-time, self-employed, or unemployed. There are various types of plans for everyone.

The Affordable Care Act presents rights, laws, and protections. Again, individuals need insurance coverage and should apply; however, everyone will not do so. In the event one does not apply he or she may face paying a fee and be responsible for paying all of their medical costs. Individuals who are unaware should read up on the Affordable Care Act, so that they will know all of their rights, protections and the laws. When consumers apply for various insurance plans, they should be certain to get a plan that covers their preventive care benefits (including shots, tests, at no cost to the consumer).

There are benefits to cover all situtations in the health care arena. If a consumer is denied coverage or does not like what is presented, he or she can appeal the decision. Consumers who have plans that existed March 23, 2010 or before, may have their plan granfathered in. However, if that happens the consumer may not receive some of the protections or rights that other plans offer, so they may lose out. Prevention and care is vital to healthy living. Consumers are protected under the Affordable Care Act and have the right and choice to choose a plan that works best for him or her.

This plan should definitely consists of preventive care benefits to cover various shots, preventative services and/or screenings without having to pay anything out of pocket. Individuals who have mental or substance abuse issues are able to apply for insurance in the Marketplace that will cover those intities. Applying for insurance under the new Marketplace presents new protections and rights versus the old plans that are available. However, consumers need to be certain that have insurance, because if they can afford it and they do not obtain insurance, he or she can be accessed a fee to pay.

Businesses should offer benefits to their employees; however, businesses with 50 or fewer employees may apply for coverage through the Small Business Health Options Plan (SHOP) Marketplace. Businesses of this size are not required to proved health coverage. Under the new law, many employers must make sure their employees know about the Marketplace options. Business with more than 50 employees are condered large and certain laws apply to them concerning the Marketplace. Those businesses who already provide insurance can keep the coverage they offer or refer employees to the Marketplace.

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