Health Insurance Market Place
Healthcare.gov is the go-to site for the upcoming nationwide health insurance mandate. Find out what it’s all about and how you fit into the picture. If you think you may qualify for the Advanced Premium Tax Credit as an individual, create your account and link to one of our certified agents to continue the relationship that we have built our business around.
The Patient Protection and Affordable Care Act, often shortened to the Affordable Care Act (ACA) or nicknamed Obamacare, is a United States federal statute enacted by the 111th United States Congress and signed into law by President Barack Obama on March 23, 2010. ACA largely retains the existing structure of Medicare, Medicaid, and the employer market, but individual markets were radically overhauled around a three-legged scheme.Insurers in these markets are made to accept all applicants and charge the same rates regardless of pre-existing conditions or sex. In order to combat resultant adverse selection, the act mandates that individuals buy insurance and insurers cover a list of “essential health benefits”. However, a repeal of the tax mandate, passed as part of the Tax Cuts and Jobs Act of 2017, will become effective in 2019. To help households between 100–400% of the Federal Poverty Line afford these compulsory policies, the law provides insurance premium subsidies. Other individual market changes include health marketplaces and risk adjustment programs.