ACA Health Insurance: Finding Affordable Options When You Need Them Most

Having access to quality health care should not be a privilege reserved for the wealthy. The Affordable Care Act (ACA) was created to make health insurance more accessible and affordable for Americans, regardless of their income or health status.

Understanding the ACA

The ACA is a comprehensive health care reform law that was enacted in 2010. It has significantly expanded health insurance coverage in the United States by:

Expanding Medicaid eligibility to cover more low-income Americans
Providing subsidies to help people afford health insurance premiums
Creating health insurance marketplaces where individuals and small businesses can shop for plans

Finding Affordable ACA Plans

If you’re looking for affordable ACA health insurance, the first step is to visit the Health Insurance Marketplace. This is a government-run website where you can compare plans and find the one that best meets your needs and budget.

When shopping for ACA plans, it’s important to consider the following factors:

Premium: The monthly cost of your health insurance policy
Deductible: The amount you have to pay out-of-pocket before your insurance starts covering costs
Copays: The fixed amount you pay for certain medical services, such as doctor’s visits or prescriptions
Coverage: The types of medical services that are covered by your plan

Financial Assistance

The ACA provides financial assistance to help low- and moderate-income individuals and families afford health insurance. This assistance comes in the form of premium subsidies and cost-sharing reductions.

Premium subsidies are tax credits that reduce the amount you have to pay for your monthly premium. Cost-sharing reductions lower the amount you have to pay for deductibles, copays, and coinsurance.

To qualify for financial assistance, you must meet certain income requirements. For 2023, the income limit for a single person is $53,000 and $106,000 for a family of four.

Getting Coverage

Open enrollment for ACA health insurance plans runs from November 1 to January 15. During this time, you can enroll in or change your health plan.

If you miss the open enrollment period, you can still get coverage through a Special Enrollment Period. Special Enrollment Periods are available for certain qualifying life events, such as getting married, having a baby, or losing your job.

To learn more about ACA health insurance and find a plan that meets your needs, visit the Health Insurance Marketplace at Healthcare.gov. You can also call the Marketplace at 1-800-318-2596 for assistance.