What is the Affordable Care Act (ACA)?

The Affordable Care Act (ACA), also known as Obamacare, was signed into law in 2010. It is a healthcare reform law with several goals, such as:

Expanding health insurance coverage to more Americans
Making health insurance more affordable
Improving the quality of health care
Reducing the growth of healthcare costs

Since its enactment, the ACA has made significant changes to the U.S. healthcare system. For example, the ACA:

Created health insurance marketplaces, where individuals and small businesses can shop for and purchase health insurance plans.
Provided subsidies to help low- and middle-income Americans afford health insurance.
Expanded Medicaid eligibility to cover more low-income Americans.
Required health insurance plans to cover a set of essential health benefits.
Prohibited insurance companies from denying coverage to people with pre-existing conditions.

How does the ACA affect insurance?

The ACA has significantly impacted the insurance industry. For example, the ACA:

Created new regulations for health insurance plans.
Increased competition among health insurance companies.
Led to a decrease in the number of uninsured Americans.
Slowed the growth of healthcare costs.

What are some of the key provisions of the ACA?

Some of the key provisions of the ACA include:

Health Insurance Marketplaces (healthcare.gov)

The ACA created health insurance marketplaces where individuals and small businesses can shop for and purchase health insurance plans. These marketplaces are designed to make it easier for people to find and compare health insurance plans and to get financial assistance to help them afford coverage.

Subsidies

The ACA provides subsidies to help low- and middle-income Americans afford health insurance. These subsidies are available to individuals and families with incomes up to 400% of the federal poverty level ($12,880 for an individual or $26,500 for a family of four in 2023).

Medicaid Expansion

The ACA expanded Medicaid eligibility to cover more low-income Americans. This expansion increased the number of people eligible for Medicaid by an estimated 12 million people.

Essential Health Benefits

The ACA requires health insurance plans to cover a set of essential health benefits, including doctor visits, hospitalization, and prescription drugs. This provision helps to ensure that people have access to the health care they need.

Pre-existing Conditions

The ACA prohibits insurance companies from denying coverage to people with pre-existing conditions. This provision helps to protect people from being denied health insurance because of their health history.

How can I get coverage under the ACA?

You can get coverage under the ACA by:

Visiting the Health Insurance Marketplace (healthcare.gov)

The Health Insurance Marketplace is the best place to shop for and purchase health insurance plans under the ACA. You can compare plans from different insurance companies and get financial assistance to help you afford coverage.

Contacting a health insurance agent or broker

Health insurance agents and brokers can help you find and purchase health insurance plans. They can also answer your questions about the ACA and help you get the coverage that meets your needs.

Applying for Medicaid

Medicaid is a government health insurance program for low-income Americans. If you meet the income requirements, you can apply for Medicaid through your state Medicaid agency.