Obama's medical reform summary and impact on you

Do you think Obama's medical reform will not affect you? Think again.

Obamacare is a common name for the 2010 Patient Protection and Affordable Care Act. Even if you don't buy insurance on the exchange, it has affected you, the people you know, and the economy as a whole. Here's a quick summary of how Obama's health care affects you, depending on your situation. Understand how Trump has weakened Obama's medical reform.

If you already have health insurance

If you are buying your own personal insurance, you can retain your existing insurance. You can also keep your employer's plan. This includes the plans you receive through the merger of the integrated budget adjustment method. You can keep retirement plans, health insurance, Medicaid, chips, Peace Corps Volunteer Program, Trika and other veterans health care plans. If you have any questions, please refer to a qualified health plan or consult your health insurance provider.

Check if your plan exists on March 23, 2010. If this is the case, it is "ancestral." This means it does not have to provide 10 basic health benefits. Even if you already have insurance, Obamacare can improve your benefits in seven ways:

  • It allows you to add a child under the age of 26 to your health insurance plan.
  • You will not have a common reward for health or pregnancy exams.
  • If you are sick, even if you make a mistake in your health insurance application, your insurance company can't fire you any more.
  • It does not limit the insurance you receive in your lifetime.
  • If you have a pre-existing condition, you are no longer worried about losing coverage if you change your insurance.
  • The insurance company must submit all reasons for raising interest rates to the state government. Obamacare provides funding to countries to manage this issue.
  • You may get a rebate from your insurance company. Obama's health care reform requires them to spend at least 80% of their insurance on medical services, not on advertising and executive pay. If they can't, the money will be returned to you.

Many people worry that their company will cancel their medical insurance and force them to buy Obamacare. This happens to at least 1 million employees. They found that their insurance companies were no longer willing to offer non-compliance plans. Others work for companies that think it is more cost-effective to pay fines. These companies know that their workers can get insurance on the health insurance exchange. The Congressional Budget Office estimates that between 3 and 5 million employees have lost their existing plans.

Most people don't do this because the company provides health insurance to attract good employees. For them, it is cheaper than high wages. The IRS does not require them to pay a welfare payroll tax.

By allowing parents to increase their children, more healthy people can pay for insurance without this system. This increases the profit of health insurance companies. They should provide lower long-term premiums. Similarly, medical insurance recipients now have more prescription fees. This way they can continue to take the drugs needed to prevent emergency room visits. Hospitalization is the most expensive part of rising medical costs.

Until 2019, everyone was asked to purchase health insurance or pay taxes. This means that more people will use preventive care instead of waiting for them to need an emergency room. The average cost of an emergency room is $1,265. The hospital had to pay the fee for the poor. They also transfer costs to insurance companies or Medicaid. When these costs are blocked, hospital costs and overall medical expenses should grow even slower.

If you don't have health insurance

Until 2019. You must be insured for at least 9 months every 12 months. Members of Congress are also authorized to obtain health insurance through the same exchange, rather than the government providing the medical insurance they have previously received. They receive a personal subsidy of $4,500 or family insurance of $10,000 to help pay for the fee.

If you can't afford health insurance

If your income is less than or equal to 138% of the federal poverty level, you will be eligible for Medicaid. The federal government funded the expansion of Medicaid 100% by 2017, and 90% later funded the expansion.

If you are not eligible to apply for Medicaid, you may still be eligible to apply for a grant. If your income is below 400% of the poverty level, you will be eligible for funding. You can get a tax credit every month instead of waiting for your annual tax refund. You can also apply for reduced copayments and deductibles. Learn about your choices by learning how to get Obamacare.

If your income is too low, your state does not expand Medicaid, or you are in trouble, you can apply for tax exemption. Understand these rules by investigating exceptions to Obama's health care reform.