The Affordable Care Act, very often called Obamacare, is a healthcare reform that’s designed to be a comprehensive effort in extending healthcare to all.
As an overview, it’ll help you to know that the ACA was created with three overall goals:
Enrollment for overall Marketplace Plans takes November 1 through December 15. Normally, the plans become effective January 1. There may be extensions made to the period on some occasions.
This phase is known as the open enrollment period. And it’s open to anyone who qualifies for the ACA.
If you miss the open enrollment, they offer a special window of opportunity for citizens who may have recently experienced specific changes in life.
Some examples of qualifying life events include: loosing credible insurance coverage, getting married or divorce, having or adopting a baby, and moving.
You may also qualify for a special enrollment period if your income falls at or below 150% FPL
The ACA offers you a form of premium tax credit or subsidies, which are calculated based on a few parameters:
The ACA can cover:
Ancillary products is almost like an umbrella term that can mean a variety of secondary insurance plans that support and supplement your primary plan. A primary plan may cover basic areas like in-patient services or out-patient visits. But they can leave you financially vulnerable in out of pocket expenses.
These additional plans can provide that crucial boost to make your primary plan more comprehensive and overall affordable.
Here are some areas where you can take advantage of ancillary products
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