Curious as to how Obamacare will benefit you? Maybe you’re presently self-employed and uninsured, or working for a company that doesn’t provide you with health insurance. Perhaps you already have an insurance plan, but you’re paying high out-of-pocket expenses because it won’t pay for certain medical care. Here are some ways in which Obamacare will make your life better in 2014.
1. Affordable health insurance is at your fingertips. In October 2013, open enrollment will begin through marketplace exchanges and private insurers. All plans will cover Essential Health Benefits, offered at the lowest cost. Many moderate-income families will be eligible for Tax Credits, which will help pay for a private insurance plan, especially if you won’t have health coverage through a job. Lower-income families will be eligible for Medicaid.
Essential Health Benefits include:
- Emergency services
- Laboratory services
- Maternity care
- Mental health and substance abuse treatment
- Outpatient, or ambulatory care
- Pediatric care
- Prescription drugs
- Preventive care
- Rehabilitative and habilitative (helping maintain daily functioning) services
- Vision and dental care for children
2. No one will be denied health insurance due to a preexisting condition. Whether you have diabetes, cancer, asthma—whatever your condition—no insurance company can turn you down because of this. They will also not be allowed to charge you more if you are seriously ill.
3. Your employer may be required to provide you with insurance. If you work for a business that has more than 50 full-time employees, that business will be required to offer you health insurance starting January 1 2014, or suffer a penalty. The advantages for businesses will be that they’ll receive subsidies for providing their employees with coverage, so it’s a win-win situation for all.
4. There will be no dollar limits on your medical care. If you’ve ever had an insurance plan that has limited the amount they’ve paid out to you for your health care, you know how expensive this can be. There will no longer be any annual maximums starting in 2014.
5. Supplemental dental insurance will be available to you. Even though dental insurance isn’t covered under Obamacare, you may still be able to purchase it for much cheaper than what you were paying for private dental insurance. And if you have children, you might be able to purchase a supplemental family plan and receive a pediatric tax credit for part of the premium cost.
Interested in purchasing a new health plan or modifying an existing one? Give us a call with your concerns at 1-800-927-3566. We’re here to make the healthcare transition as smooth as possible for you.