All About ACA Health Insurance for People Under 65 with No Medicare

If you are under the age of 65 and not yet eligible for Medicare, you may be wondering what your options are for health insurance.

The Affordable Care Act (ACA)

The ACA, also known as Obamacare, was signed into law in 2010. This law made significant changes to the way health insurance is regulated in the United States.

One of the key provisions of the ACA is the individual mandate. This mandate requires most people to have health insurance or pay a penalty. However, a 2017 tax bill eliminated the penalty for not having health insurance. This means that you are no longer required to have health insurance, but it is still a good idea to have it.

If you are under 65 and not yet eligible for Medicare, you have several options for health insurance:

– You can purchase a plan through the ACA Marketplace. The ACA Marketplace is a website where you can compare and purchase health insurance plans from different insurers.
– You can purchase a plan directly from an insurance company.
– You may be eligible for Medicaid, a government health insurance program for low-income individuals.
– You may be eligible for CHIP, a government health insurance program for children.

If you are not sure which option is right for you, you can talk to a licensed insurance agent.

If you decide to purchase a plan through the ACA Marketplace, you will need to do the following:

– Create an account on the Marketplace website.
– Provide information about your income and household size.
– Compare plans and select the one that is right for you.
– Enroll in the plan.

Once you are enrolled in a plan, you will be responsible for paying your monthly premium. You may also be responsible for paying a deductible, which is the amount you have to pay out-of-pocket before your insurance coverage kicks in.

Here are some things to keep in mind about ACA health insurance:

– Plans are standardized. This means that plans in the same metal tier (Bronze, Silver, Gold, or Platinum) offer the same essential benefits.
– Plans are regulated. This means that insurers cannot deny coverage to people with pre-existing conditions and they must charge the same rates to people of the same age, gender, and location.
– Plans are affordable. The ACA provides subsidies to help people afford health insurance. If you qualify for a subsidy, your monthly premium will be lower.

If you are under 65 and not yet eligible for Medicare, it is important to have health insurance.

The ACA makes it easier and more affordable than ever to get health insurance. If you are not sure which option is right for you, you can talk to a licensed insurance agent.