The Ultimate Guide to ACA Health Insurance Plans for Midwesterners

In the 2022 Open Enrollment period for the Affordable Care Act (ACA), over 14.5 million people selected a health insurance plan through the Health Insurance Marketplace®. Among those who enrolled in Marketplace coverage, over 90% qualified for financial assistance to lower their monthly premiums and out-of-pocket costs.

Whether you’re new to ACA health insurance plans or just need a refresher, this guide will help you understand the basics and find the right plan for you.

What is the Affordable Care Act (ACA)?

The Affordable Care Act (ACA), also known as Obamacare, is a comprehensive health care reform law that was enacted in 2010. The ACA has made health insurance more accessible and affordable for millions of Americans.

Who is eligible for ACA health insurance?

Most people are eligible for ACA health insurance, regardless of their age, income, or health status. However, there are some exceptions. For example, people who are not US citizens or legal residents are not eligible for ACA health insurance.

How do I enroll in an ACA health insurance plan?

You can enroll in an ACA health insurance plan through the Health Insurance Marketplace®. The Marketplace is a website where you can compare plans and prices from different insurance companies. You can also enroll in an ACA health insurance plan through an insurance agent or broker.

What are the different types of ACA health insurance plans?

There are four different types of ACA health insurance plans:

Bronze plans have the lowest monthly premiums but the highest deductibles and out-of-pocket costs.
Silver plans have higher monthly premiums than bronze plans, but lower deductibles and out-of-pocket costs.
Gold plans have the highest monthly premiums but the lowest deductibles and out-of-pocket costs.
Platinum plans have the highest monthly premiums and the lowest deductibles and out-of-pocket costs.

How much does ACA health insurance cost?

The cost of ACA health insurance varies depending on your age, income, and the type of plan you choose. However, most people who enroll in ACA health insurance qualify for financial assistance to lower their monthly premiums and out-of-pocket costs.

How do I find the right ACA health insurance plan for me?

The best way to find the right ACA health insurance plan for you is to compare plans and prices through the Health Insurance Marketplace®. You can also talk to an insurance agent or broker for help choosing a plan.

What are the benefits of ACA health insurance?

ACA health insurance plans offer a number of benefits, including:

Comprehensive coverage: ACA health insurance plans cover a wide range of essential health benefits, including doctor visits, hospital stays, and prescription drugs.
Financial assistance: Most people who enroll in ACA health insurance qualify for financial assistance to lower their monthly premiums and out-of-pocket costs.
Peace of mind: ACA health insurance gives you peace of mind knowing that you’re protected from unexpected medical expenses.

What are the penalties for not having ACA health insurance?

If you don’t have ACA health insurance, you may have to pay a tax penalty. The penalty for not having health insurance in 2023 is $695 per adult and $347.50 per child, or 2.5% of your household income, whichever is higher.

How can I get help with ACA health insurance?

If you need help with ACA health insurance, you can contact the Health Insurance Marketplace® at 1-800-318-2596. You can also visit the Marketplace website at Healthcare.gov.