Major changes in American health care are well underway, and yet thousands of people are still uninformed about the basics of the new changes, and what that means for individuals, families, and businesses. Today we will briefly cover the basic framework of The Patient Protection and Affordable Care Act.
What is The Patient Protection and Affordable Care Act (ACA)?
The ACA will create a state exchange and marketplace in which both individuals and companies can search for insurance plans. This marketplace is designed to have several benefits:
Easier to Shop: The marketplace will make it easier than ever to purchase an insurance plan, with options to do so online, in-person, or over the phone.
Greater Coverage: Most Californians are under-insured or uninsured completely. With The Affordable Care Act, programs like Medicare, Medi-Cal, and more are boosted for individuals who take advantage of these programs. For younger Americans, individuals under the age of 26 can remain covered under their parents’ health insurance plan until they reach the age of 26.
Removes Limitations on Maximum Amount of Health Benefits: In the past, insurance companies across the America were able to place superficial monetary ceilings on the amount of core health benefits an individual could receive throughout his or her life.
How Much Will Health Insurance Cost?
As an individual in California, the change in costs for health insurance depends on a variety of factors including area code, age, income, and more. However, as mentioned above the ACA was designed to make the insurance purchasing process easier. You can find out how much health insurance plans will cost you at the Covered California Shop and Compare Tool.
To learn more about the changes in health insurance, San Francisco residents can talk to the insurance experts at our SF offices.