navigating health insurance

obamacare: the affordable care act (ACA)

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So, you hear everyone talking about Obamacare and the Affordable Care Act. Let’s talk about what those mean…without all the politicians yelling!

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transcript

Obamacare (formal name: the Affordable Care Act) provided for massive expansion of insurance coverage to millions of Americans. Before it came into law, if you didn’t have health insurance from your employer (and weren’t an old person on Medicare), health insurance was incredibly expensive and hard to come by. Now, it’s much easier to access, but still comes with a price… and a lot of contentious yelling matches in congress.

 

Pre-Existing Conditions

Obamacare also forced insurers to approve people with pre-existing conditions for health insurance (before this, health insurers could reject you if you previously had a serious illness that would make you more likely to receive higher insurance payouts and be a more costly patient to the insurer). In exchange for incentivizing insurance companies to take on more “risky” customers, the government mandated that every American have health insurance and imposed penalties on those who didn’t purchase it (the individual mandate).

Obamacare is also what allows you to stay on your parents’ plan until you’re 26…so thanks Obama!

 

Source(s): healthcare.gov

No account yet? Register

navigating health insurance

obamacare: the affordable care act (ACA)

So, you hear everyone talking about Obamacare and the Affordable Care Act. Let’s talk about what those mean…without all the politicians yelling!

Obamacare (formal name: the Affordable Care Act) provided for massive expansion of insurance coverage to millions of Americans. Before it came into law, if you didn’t have health insurance from your employer (and weren’t an old person on Medicare), health insurance was incredibly expensive and hard to come by. Now, it’s much easier to access, but still comes with a price… and a lot of contentious yelling matches in congress.

 

Pre-Existing Conditions

Obamacare also forced insurers to approve people with pre-existing conditions for health insurance (before this, health insurers could reject you if you previously had a serious illness that would make you more likely to receive higher insurance payouts and be a more costly patient to the insurer). In exchange for incentivizing insurance companies to take on more “risky” customers, the government mandated that every American have health insurance and imposed penalties on those who didn’t purchase it (the individual mandate).

Obamacare is also what allows you to stay on your parents’ plan until you’re 26…so thanks Obama!

 

Source(s): healthcare.gov

lessons in this course

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