Get Informed On Reform

While the future of the Affordable Care Act is unknown due to the recent election, one thing is for certain, it has forever changed the health insurance industry and how we purchase health insurance. Let our Affordable Care Act overview be your resource when navigating health care reform.

Affordable Care Act Overview

Obamacare Facts

Affordable Care Act Penalties

For those who can afford coverage — which is defined as insurance costing less than 8 percent of their annual income, but choose not to have health insurance, will have to pay a penalty of either $695 or 2.5 percent of the annual income, whichever is greater, when the individual mandate is fully phased-in in 2016.

Medicaid Eligibility

Families making less than 133 percent of the poverty line — that’s about $29,000 for a family of four — will be covered through Medicaid. Between 133 percent and 400 percent of the poverty line — $88,000 for a family of four — families will get tax credits on a sliding scale to help pay for private insurance.

Pre-existing Conditions

Insurance companies are not allowed to discriminate based on preexisting conditions. They are allowed to discriminate based “on age (limited to 3 to 1 ratio), premium rating area, family composition, and tobacco use (limited to 1.5. to 1 ratio)”.

When Can I Apply For Health Insurance?

This is probably the most common question we hear. You can only enroll in a health insurance plan during Open Enrollment, which is November 15th to February 15th. People are shocked when they find out they cannot sign up for health insurance coverage whenever they want. The dates can change based on which state you live in and what insurer you are applying with.

What Happens If I Miss Open Enrollment?
What are “Qualifying Life Events”?
What If I Didn’t Experience A “Qualifying Life Event”?

Help. When You Need It Most.

Affordable Care Act Overview and Guide

ChooseMyPlan is here to help every step of the way. If at any time you have questions about a health plan, a qualifying life event or just want to double check something, we can help you find health coverage that fits your needs, as well as see if you qualify for a government subsidy to help pay for it.

Paying Too Much For Health Insurance?

Health insurance is expensive. If you feel like you are getting robbed, browse health plans from all insurance carriers each year to ensure you are getting the best price. Also verify your eligibility for premium assistance from the government.

health insurance faqs