Wednesday, September 4, 2013

The Affordable Care Act & The October 1st Deadline



Whether you know it or not, the Affordable Care Act doesn't determine whether or not taxpayers will pay for health care for the uninsured, but how. Currently, we pay for health care for the through higher taxes and higher insurance premiums. The ACA (I refuse to call it Obama Care), provides expanded coverage for those who are eligible and for those who are already insured as well. 

What's really important is that our healthy young people get in the system. It's the only way it becomes affordable. 







Here's some basic information you need to know about the Affordable Care Act and what you need to do in order to determine your eligibility for federal subsidies for health care:

Starting in October, 2013, you’ll be able to apply for financial assistance (subsidies) from the federal government to help pay for care and coverage in 2014.
  • Help with premiums and out-of-pocket expenses will be available through the Health Insurance Marketplaces.
  • If you qualify for federal financial assistance (subsidies), you can only get it through the Marketplaces.
  • Assistance will be on a sliding scale, based on income and family size. To see if you qualify for help, a calculator will be available on the Marketplaces.
Here are some general income guidelines that might be used by the government to see if you qualify for assistance:
  • If you’re single, the range of income qualifying for assistance could be between $15,282 and $45,960. In Hawaii, it could be between $17,596 and $52,920.
  • For couples, the range of combined income qualifying for assistance could be between $20,628 and $62,040. In Hawaii, it could be between $23,741 and $71,400.
  • For a family of four, the range of combined income qualifying for assistance could be between $31,322 and $94,200. In Hawaii, it could be between $36,030 and $108,360.
You can find more information here and here. If you live in Texas you can find out about enrollment here

No comments: