Obamacare and Health Insurance

ObamaCare Provisions at a Glanceobamacare

The following is a list of key ACA (Affordable Care Act = “ObamaCare”) provisions (with the implementation date in parentheses, where applicable):

  • Dependents may be covered by their parents’ insurance plans until they turn 26 (9/23/10).
  • Insurers may not cancel policies when policy holders become sick (9/23/10).
  • State health insurance exchanges (the “Health Insurance Marketplace”) allow businesses and individuals to compare plans and enroll for coverage (10/1/2013).
  • Insurers may not place a lifetime monetary limit on hospital stays or other benefits deemed “essential” in new policies (1/1/14).
  • Insurers may not deny coverage to individuals for pre-existing conditions, and must offer the same premiums within the same age and geographical group regardless of gender and pre-existing conditions, except tobacco use (1/1/14).
  • Individual mandate takes effect, requiring all individuals (with some limited exceptions) to carry health insurance or pay a tax penalty. Subsidies will help low-income people comply with this mandate (1/1/14).
  • Medicaid eligibility expands to include those earning 133 percent of the official poverty level, including adults without dependents, in participating states (1/1/14).
  • Subsidies (in the form of refundable tax credits) available on the State health insurance exchanges for individuals with a household income up to 400 percent of the official poverty level (1/1/14).
  • Minimum standards for health insurance policies enforced (1/1/14).
  • Employers may not require employees to wait more than 90 days for health insurance eligibility (1/1/14).
  • Tax credits offered to small businesses (25 or fewer full-time employees, defined as 30 hours per week) for compliance with ACA (1/1/14).
  • Larger employers (more than 50 full-time employees) will be charged a $2,000 penalty per full-time employee that lacks health coverage (Originally 1/1/14 but later postponed to 2015 – 2016).

See more at www.HealthCare.gov

I can assist individuals, families and small businesses get health insurance coverage in the states of Washington, Oregon and California.