What Is The Affordable Care Act (ACA)

The Affordable Care Act, or ACA, is a law passed in 2010 that reformed America’s health system to improve access and affordability for more Americans.

The law gives everyone more choices when choosing health coverage. In addition, the health care law creates options for many people to get coverage regardless of pre-existing conditions or current health status. You may qualify for reduced costs on your monthly premiums and lower out-of-pocket costs depending on your income, family size, and the health plan you choose.

Five things to know about ACA:

  • Premium tax credits. Also known as a “health insurance subsidy,” a premium tax credit is financial assistance to help those who qualify pay for health insurance. Learn more.
  • Pre-existing conditions. You can get health insurance coverage, even with a pre-existing condition. What’s more, you won’t pay more to have pre-existing medical conditions covered.
  • Essential Health Benefits. Major medical insurance plans now cover certain benefits considered essential to good health, such as:
    • Emergency services
    • Prescription drugs
    • Rehabilitative services
    • Hospitalization
    • Ambulatory services
    • Laboratory services
    • Preventive/wellness services and chronic disease management
    • Mental health/substance abuse
    • Pediatric services
  • Emergency access. The health care law ensures that you can seek emergency care at any hospital without prior approval from your health plan. The hospital does not have to be in your plan’s network of covered providers.
  • Preventive services. With ACA, most preventive care will be fully paid by your premium – like certain screenings to check for conditions such as diabetes or mammograms for early cancer detection. And, so long as you visit a doctor in your health plan’s provider network, you won’t have a co-pay, coinsurance or deductibles for an annual wellness exam or immunizations.

Now that you have more information about ACA, do you feel more prepared to select health coverage for you and your family?

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