ACA Plans

Before 2010, health insurance companies were able to deny coverage to people because of their health conditions. This eliminated many people from acquiring reasonable health insurance coverage, which left many people unable to afford the health care they needed. When The Affordable Care Act was passed in 2010, this all changed. Now, applicants cannot be denied coverage due to their health history.

If you want to purchase an ACA plan, continue reading to learn more about these plans.

What Is ACA Coverage?

The Affordable Care Act, also known as Obamacare, instructed states to create exchanges where individuals and families can find major health insurance that isn’t provided through an employer. Some states have decided not to develop their own exchanges, but all states participate in the federal insurance exchange, or Marketplace.

Marketplace Plans

The Marketplace features many plans that are available to people across the country. All Marketplace plans are required to offer a set of ten minimum benefits. The required benefits are as follows:

  • Emergency Services
  • Hospitalization
  • Laboratory Diagnostic Services
  • Mental Health Care
  • Pregnancy, Maternity, and Newborn Care
  • Preventive health care services
  • Pediatric Services
  • Rehabilitative and Habilitative Services
  • Ambulatory Patient Services
  • Prescription Medications

The Insurance Marketplace

The Marketplace encourages competition between insurance providers. It offers consumers the opportunity to review all of their options to find the best plan for their unique circumstances. The Marketplace is also broken down into four different metal tiers, each representing different levels of coverage and cost. The four tiers are bronze, silver, gold, and platinum, ordered from narrowest to broadest coverage.

Save On Coverage

If you meet the appropriate criteria, you can qualify for discounts that can be applied to your Marketplace policy. These discounts are known as premium tax credits. They are awarded to people whose income falls below a certain threshold. Some people also qualify for assistance with paying out-of-pocket health care costs, like coinsurance, copayments, and deductibles.

Marketplace Coverage In Your Area

The Marketplace plans available to you vary from region to region. Therefore, it’s important that you make sure to shop with the help of a skilled advisor. The ACA experts at Alite Financial Professionals are ready to help you get started today.

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