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Obamacare Information

 The Patient Protection and Affordable Care Act (PPACA) commonly called "Obamacare" was enacted in 2012. Unfortunately, the bill was many hundreds of pages long and can be quite confusing. Our goal here is to help explain the practical aspects of the ACA in layman's terms so that they are easy to understand.  

What it is about

The Affordable Care Act had several goals:

  • To increase the quality and affordability of health insurance
  • Reduce the number of people who are uninsured
  • Reduce the costs of healthcare for individuals and the government
  • In 2011 the Congressional Budget Office projected that the PPACA would lower both future deficits and Medicare costs.

What is New and Different?

  •  Insurance companies are required to cover all applicants with new minimum standards and offer the same rates regardless of pre-existing conditions or sex.
  • No one can be denied coverage because of pre-existing conditions.
  • The Federal Government will provide subsidies to individuals and families based on their household income in relation to federal poverty levels. This subsidy is called the premium tax credit. We will go into this in more detail later.
  • Everyone without "qualifying" health insurance must pay a penalty. We will cover this in more detail also.

Constantly Changing

  • Because  the program was founded under federal law, details of eligibility, subsidy and availability are constantly changing.
  • Contact us to speak to a licensed agent to find out how the program applies to your unique situation.