What exactly is Obamacare? I have been wondering about it lately and decided to do some researching.
It is scary on so many levels when someone without insurance needs medical care. It is extremely expensive. The new health care laws require all people who can afford to take responsibility for their own health care to do so, by getting coverage or paying a penalty.
You can save money depending on your income and family size. You may be able to lower your costs on your monthly premiums when you enroll in a private insurance plan. The plans cover essential health benefits and pre-existing conditions.
If you do not sign up for “Affordable Care Act” and you don't have any health insurance, you will be forced to pay 1% of your yearly income or $95 per person for 2014. The fee (penalty) will increase every year.
On a side note, even if you pay the fee (or penalty), that doesn't mean you have any health insurance coverage after the enrollment time has passed. You are still responsible for 100% of the cost of your medical care. You will have until March 31, 2014 to make your decision. After that, you will not be able to get the health insurance until the next enrollment period.
To avoid the fee in 2014, you need insurance that qualifies as minimum essential coverage. You are to be covered by any of the following, incuding any employer plan (such as COBRA), with or without “grandfathered” status. This also includes retiree plans.
- The Children's Health Insurance Program (CHIP)
- TRICARE (for current service members and military retirees,
- their families, and survivors)
- Veterans health care programs (including the Veterans Health Care Program, VA Civilian Health and Medical Program (CHAMPVA)
- Spina Bifida Health Care Benefits Program
- Peace Corps Volunteer plans
I have some issues with "Obamacare." On one hand, many of my friends who don't have insurance are thrilled that now that they will be able to have it and are looking forward to going to doctors. On the other hand, it puts pressure on the middle class. From everything I read about the premiums, costs will go up compared to what some individuals are paying at present, and then there is the worst part of all. People are being forced to pay for health insurance. And yes, I believe everyone should pay something, but I'm not a big fan of the government forcing people to do things.
Those are my concerns. What are yours?
Photograph by Becky F