3 Facts About Affordable Care Act The Affordable Care Act is one of the most controversial laws passed in recent U.S. history. This controversy even gave the ACA the nickname Obamacare by its detractors. Some felt that the law took away their power to get their own health care, others felt it helped them to finally have health insurance. Listed below are 3 facts about the Affordable Care Act which will help to clear up the confusion.
1. Making Health Care Affordable for Consumers 1- One of the most important parts of the ACA is its mechanism for providing affordable health care to those who can’t afford it otherwise. States that choose to expand Medicaid will have 100% of their Medicaid payments paid by the Federal government till 2018. What does expanding Medicaid mean? It means that those with a family income of 138% or less of the poverty line qualify for Medicaid. Not every state has expanded Medicaid but in those states that have, health insurance for many low-income people is free. 2-Second point of the ACA’s strategy to provide affordable health care is to offer tax credits to those with income higher than the Medicaid cutoff, but who still need help getting affordable health care. These credits can either be claimed on an income tax refund or paid directly to the insurance companies so that monthly bills remain affordable. While those two parts of the ACA are important in allowing consumers to have insurance they couldn’t otherwise afford, they are not the only mechanisms for making health care more affordable.
2. Keeping Costs in Check Anotherimportant fact about the Affordable Care Act is that it contains several provisions for keeping costs low for consumers and businesses. Insurance companies are limited by the ACA to non-medical expenses of just 80%. If their non-medical expenses exceed that amount then they need to provide rebates to customers. Small businesses can receive tax credits to provide insurance to their employees. Finally, out of pocket expenses are done away with for many routine health care needs.
3. Bringing Freedom to Health Care Some people may complain about the ACA limiting their freedom by requiring them to purchase health care, but the facts show that the ACA has given consumers even more freedom than before. The health exchanges created under the law provide many more options for health care coverage. All of the choices are right before the consumer and they just have to understand the different options to find the most suitable health care plan. Parents can now include their dependent children in their health plans until they reach 26 years of age. This helps create lower health care bills for those making their way through college. Finally, pre-existing conditions no longer exist. Pre-existing conditions kept many people with existing health problems from acquiring insurance. It also prevented people from finding new plans as they had to stick with their existing insurance plans. This provision of the ACA was one of the first ones implemented and had an immediate impact on freedom of access to health care. The facts about the Affordable Care Act show that it has lived up to its name in helping to provide affordable health care to those who couldn’t normally afford it.
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