The Healthcare Reform, also referred to as the Affordable Care Act (ACA) has led to many questions over the last couple of years. Having taken full effect in March of this year, many individuals are still asking questions about the new rules and regulations set in place regarding the healthcare reform. Open enrollment is closed, however many individuals are still able to get 2014 coverage, depending on the circumstance. For example, those who have moved outside of their service area or have lost their work-based healthcare coverage may apply at HealthCare.gov.
The most common question asked by those who do not currently carry their own health insurance policy, is how the reform will affect them. Under the ACA, people without insurance are required to get it. They are able to purchase coverage on a new “exchange”, or a marketplace, in which private insurers offer plans. The government then subsidizes the cost of the plans, on a sliding scale, up to a certain income.
Another common question about the ACA comes from individuals who already carry health insurance, whether it’s through work, their parents, or their spouse. The question stands, how will the ACA affect them? The legislation is intended to preserve the existing employer-based insurance system. People who are already covered by individual plans will be able to get better-regulated plans on the new exchange, possibly with government subsidies. People who are covered by the health insurance offered through their workplace will not have to be concerned about losing coverage if they lose their job, as they can turn to the exchange for new coverage.