Affordable Care Act
Understanding ACA and your health insurance options
What Is The Affordable Care Act?
The Affordable Care Act (ACA) is the name of the health care reform law and its amendments, which address health insurance coverage, costs, and preventive care. The Affordable Care Act is often referred to as Obamacare since it was signed into law in March 2010 by President Barack Obama.
Under the ACA, those who were previously uninsured due to preexisting conditions or financial circumstances and those who were insured in high premium plans or limited benefit plans may now be eligible for more affordable health plans with essential benefits. The ACA has given millions of people access to quality health care. ACA-compliant plans cover things like annual checkups, maternity and newborn care, prescription drugs, emergency services, mental health services, pediatric services and more.
Available Plans in the Marketplace
There is a variety of plans available in the healthcare marketplace, each designed for specific scenarios or events in life. However, it’s important to note that not all of these are considered health insurance. Available plan types include:
- Catastrophic Illness Policies
- Accident Policies
- Supplemental Policies
- Hospitalization Indemnity Policies
- Supplemental Prescription Drug Coverage
- Discount Plans