Affordable Care Act [Obamacare]
Frequently asked questions about the Patient Protection and Affordable Care Act (also known as Obamacare) and how it affects Atlanta area individuals and companies.
- As an individual who purchase health insurance on my own, what do I need to know about the new Affordable Care Act?
The affordable care act (Obamacare) is going to require that all individuals carry health insurance or possibly face financial penalties.
- I’m a business owner and currently do not provide health insurance for my employees. How will Obamacare affect my company?
Companies with less than 50 full time employees are not required to offer health insurance. Small companies can offer health insurance to their employees and they may be eligible for federal tax credits by doing so, but they are not required to. If a company offers insurance to their employees, it will prohibit the employee from buying their own insurance and potentially getting a subsidy from the government.
- What is a Health Insurance Exchange? Is it administered by the state or federal government?
Health insurance exchanges have been created by the federal government and some states (Georgia is not one of them) to facilitate the purchase of subsidy exligible policies. Not all carriers are participating on the exchanges and if an individual does not qualify for a subsidy, it may be in their best interest to purchase a plan that is "off exchange."
- With the new Affordable Care Act, will I be able to get health insurance for a condition I was previously not covered for?
The law prohibits carriers from denying anyone coverage from pre-existing conditions and from them being charged a higher premium. Everyone will be able to purchase insurance and their rates will only depend on their age and family make up. The law requires all policies to cover at a minimum
of 10 essential benefits (EMB) that include maternity coverage, mental health and pediatric dental care.