Understanding the Affordable Care Act
Understanding the Affordable Care Act (ACA) and the Health Insurance Marketplace can be overwhelming. Uebe Insured in Shenandoah, TX, offers some information to help clarify these concepts.
The ACA is a law that ensures everyone has access to minimum essential health care coverage. Under this law, individuals cannot be denied ACA health insurance coverage due to pre-existing conditions, and they cannot be charged higher rates because of such conditions
It is crucial to understand the ACA requirements as you begin the process:
- Open enrollment, occurring from November 1 to December 15, is the designated period to purchase health insurance.
- Tax credits may be available in certain situations to assist with health insurance costs.
- Maintaining health insurance is a necessity for most individuals.
When selecting health care coverage, review the health plans to confirm they meet the "ACA minimum essential coverage" criteria.
How to Navigate Open Enrollment
There are various avenues to acquire health insurance, including through your employer, health insurance companies, or Health Insurance Marketplaces.
Remember:
- Open enrollment is the opportunity to purchase health insurance annually.
- Missing the open enrollment period may lead to a penalty, but some exceptions, such as Qualifying Life Events, (link to: https://www.healthcare.gov/glossary/qualifying-life-event/) allow for enrollment during a Special Enrollment Period.
- Tax credits may be accessible to help offset health insurance expenses based on family circumstances and income levels.
Visit www.healthcare.gov to determine eligibility for tax credits before selecting a plan.
Health Insurance Plans Available on the Marketplace
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We work with you in selecting the perfect health insurance plan for you and your family. Call 936-703-2361.