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March 2014 -

26 Mar

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The Affordable Care Act: It’s Good to be Insured

March 26, 2014 | By |

First Aid - Hand in Bandage

 

In 2010 U.S. Congress passed the Patient Protection and Affordable Care Act to ensure that Americans have access to quality, affordable health care while creating the transformation within the healthcare system necessary to certain costs.

 

This act has been designed to:

  • Reduce the cost of health care and coverage
  • Increase access to doctors and specialists
  • Add to preventative care providers and specialists
  • Give more rights and help to insured patients
  • Extend young adults’ coverage under their parents’ insurance
  • Offer coverage to those with pre-existing conditions
  • Improving the quality and efficiency of health care
  • Prevention of chronic disease and improving public health
  • Improving access to innovative medical therapies

Just reported today, The Washington Post said for people who have started the application process for Obamacare coverage through the HealthCare.gov website but cannot finish by this Monday will now have until about the middle of April to seek an extension. The administration is scheduled to announce the change on Wednesday.

On HealthCare.gov, people could qualify for an extension by checking a blue box, to show they have attempted to enroll before the deadline of March 31, 2014. The Post said the method would be based on an honor system and that the government would not try to determine if the person was being truthful.

If you don’t enroll by March 31, 2014, meet the requirements or obtain an extension, the 2014 penalty will be $95 per adult in your family ($47.0 per child) for the year or 1% of your yearly income, whichever is greater. This penalty increases annually.

Please note: If you decide to pay the penalty, you will NOT receive health insurance coverage, resulting in your pockets paying 100% of the medical bills.

For more Information please visit: Affordable Care Act

Photo courtesy of Stuart Miles : Digital Photos