The Affordable Care Act (the ACA) passed in 2010. It revolutionized the health insurance market. Starting in 2014 plans were required to be guaranteed and offer a comprehensive package of essential health benefits. This law also created a new marketplace to obtain coverage. Plans can now be purchased with premium assistance in the form of subsidy tax credits based on individual / family projected adjusted gross income, or purchased directly from the insurance carrier. Dodson Insurance will help you determine if you or your family qualify for the subsidy premium tax credits, different premiums, provider networks and benefits.
When trying to decipher the “best option” via the internet, remember price is only one of several key factors to consider. Dodson Insurance will verify the provider networks for your doctors and hospitals of choice. Additionally, we help you get matched to your risk tolerance in relation to plan benefits, copays, coinsurance, deductibles and medication formularies. Having the right coverage when your family needs it is our most important concern.
The goal of health insurance reform is to provide accessible, quality health insurance at an affordable price. The law achieves this goal through taxes, subsidies, insurance exchanges, consumer protections, regulations and other reforms. Florida health insurance is provided through the national exchange, but Dodson Insurance can help you make sure you pick the plan that best suits your needs at no additional cost.
An open enrollment period is provided every year for those without coverage. Once this period expires, those needing health insurance can obtain short-term health insurance until the next open enrollment period, unless they are eligible for a special enrollment period.
A few other facts about the ACA are:
- Young adults may stay on their parents’ healthcare plan until they are 26 years of age.
- Insurance companies cannot deny coverage or charge more due to your health status.
- Insurance companies cannot drop you when you become ill or if you make an honest mistake on your application.
- Provides tax benefits for small businesses.
- Requires larger businesses with 50+ number of employees, to provide insurance for employees.
Has the ACA Worked?
The Affordable Care Act is working! It is benefiting millions of Americans, especially low-to-middle income people and young adults. If you have further questions about how ACA coverage works or how to ensure you have qualifying coverage, contact Dodson Insurance to learn more about affordable health insurance.
If you would like to talk with us about your insurance questions, please contact Clay Dodson today!