What does the Affordable Care Act mean for you?
A 7-minute video created this year by the Henry J. Kaiser Family Foundation will give you a better sense of what the Affordable Care Act (aka Obamacare) means for you starting in 2014. (A link to their earlier video is at the end of this post.)
- 50% of Americans are already covered by employer-sponsored healthcare plans. Small companies with 50 or more employees must cover employees or face penalties. Employer-based plans will include free preventative health care.
- 33% of Americans are covered by government-based plans such as Medicare and Medicaid. Not much will change except Medicaid will expand to cover poor Americans. Each state will determine the criteria for “poor.”
- 10% of Americans will buy their own health insurance via a Health Insurance Marketplace where private companies will offer insurance. The government will offer a tax credit to self-subsidizing Americans to help offset their healthcare insurance costs.
How will this unfold?
Ultimately, time will tell as the programs and benefits are tweaked and new programs come online in 2015.
The intent is to ensure every American has health insurance while adjusting healthcare costs for men and woman (to be the same). No person will be turned away for pre-existing conditions.
Will this raise costs in some cases?
Yes. Someone has to bear the burden. Taxes will pay for these benefits and the burden will likely be divided among healthcare providers, health insurers, and even wealthier customers. In other words, some will pay more and some less to ensure all Americans are insured.
Coverage will be available during special enrollment periods. Everyone without insurance will need to enroll during these periods or face penalties.
For more information click below to watch the 7-minute Affordable Care Act video.
“The YouToons Get Ready for Obamacare: Health Insurance Changes Coming Your Way Under the Affordable Care Act,” The Henry J. Kaiser Family Foundation, accessed July 2013.
The YouToons first appeared in the 2010 animated movie, “Health Reform Hits Main Street,” which explained how the health reform law would work
Thank you, Bob Finnie of PersonCare.net for bringing this to The Caregiver’s Voice attention.