10 Things The UNINSURED Need to Know about “Obamacare”

You Need to Know about Obamacare

Whether you are “for” or “against” “Obamacare” (it’s really called the “Affordable Care Act”), and unless you live under a rock, you should have heard by now that anyone who is uninsured will be required to purchase health insurance (or may now qualify for Medicaid) under the mandates of the Affordable Care Act (“ACA”) by January 1, 2014.

10 Things you Need to Know about Obamacare if you are uninsured…

  1. If you are age 26 or younger, under the ACA, you can remain on your parents’ insurance, as their dependent, if you do not have your own health insurance through work.  This is true even if you are married.

  2. For those young adults whose work does not provide insurance, cost-effective plans will be available through the Affordable Insurance Exchange, a type of marketplace where health benefit plans can be purchased.

  3. For those who are either unemployed, or who have annual incomes of less than $15,000, health coverage through Medicaid may be available as early as 2014 (unless you live in FL – since FL refused federal funds, Florida’s exchange will be a federally run health insurance exchange, starting in 2014). Florida expects that the exchange will follow the Bronze, Silver, Gold or Platinum pattern (60 percent, 70 percent, 80 percent or 90 percent of billed charges covered). You are accountable for paying the remainder. Employer and individual premiums will vary with age, gender and health status.

  4. Those Floridians who receive either Medicare or Medicaid will not really see any change.  The numbers of individuals who will qualify for Medicaid under the ACA will increase because the ACA entitles people with incomes between 100 percent and 138 percent of the federal poverty level to enroll in Medicaid, with most of their premiums covered by federal subsidies.

  5. Under the ACA, insurers will be severely limited in their ability to raise the cost of insurance due to someone’s age

  6. Those who are 65 and over and on Original Medicare (Part A and B) will be able to receive yearly wellness visits and other preventative measures (such as flu shots, etc.) at no cost to them.

  7. Part B deductibles for those on Medicare will no longer apply to screenings for things such as cervical cancer, diabetes, colonoscopies, and the like.

  8. Mammograms will also no longer require the recipient to meet a deductible or co-pay.

  9. Senior’s drug coverage under Part D of Medicare will be more affordable as they slowly do away with the “donut hole” gap

  10. Under the ACA, insurers can no longer deny coverage to those with pre-existing conditions as of January 1, 2014.

You Need to Know about Obamacare

Are you interested in learning more about the Affordable Care Act (a/k/a “Obamacare”)?  Here is an article you can go to that explains it in simple terms and provides more in-depth details – http://atlanta.cbslocal.com/2013/02/28/obamacare-101-separating-fact-from-fiction/.

You can also learn more here: 10 Things you Need to Know about Obamacare

By |2013-09-04T21:02:01+00:00September 4th, 2013|Categories: Estate Planning, Florida Laws|Tags: , |0 Comments