Key Facts of The Affordable Care Act

December 27th, 2013

Due to the nature of this politically charged government bill, it can be hard to determine what the truth is and what is propaganda put out there with an ulterior motive. In order to fully understand this new healthcare law and how it affects you, it is important to realize the facts of this new health care plan. You can then form an educated opinion about Obamacare and its impact on your life.

The Foundation
The Affordable Care Act, ACA, or Obamacare are all the same thing and it is part of the reform signed into action by President Obama in 2010 designed to provide quality, affordable healthcare for all Americans and reduce the growth in health care spending. The ACA has a goal to expand the private and public sectors of health insurance so more people can afford it without having to sacrifice on the quality of the program. Here are some quick facts about this new healthcare reform meant to educate and inform:

  • Obamacare does not replace private insurance, Medicare, or Medicaid
  • It regulates health insurance, not the care you will receive.
  • All insurers are required to cover those with pre-existing conditions.
  • Insurance companies can no longer drop you when you get sick or make an honest mistake on your applications.
  • The insurance companies can no longer hike up your rates and they must do away with life-time and annual limits.
  • There are ten essential health benefits that must be included on all non-grandfathered plans with no annual or lifetime dollar limits: outpatient care, emergency room care, hospitalization, maternity and newborn care, mental health and addiction treatment, prescription drugs, rehab services and devices, laboratory services, preventative and chronic disease treatment, pediatric services.
  • Immunizations, yearly checkups, counseling, and screenings are all included in the free preventative care that must be included on all non-grandfathered plans.
  • Most Americans will have to obtain healthcare coverage, get an exemption or pay a monthly fee/penalty if they do not have the appropriate insurance.
  • The ACA reduces the growth in healthcare spending that is currently the standard.

If you still have questions about this new healthcare law, you should search the internet or talk to a health care insurance professional to learn the facts. When you have the facts and knowledge about how the mandates will affect you, you can make educated decisions about your own healthcare or that of your company. From large corporations to the small corner business, the ACA has different requirements and unless you know what they are, you may feel overwhelmed and panicked. The staff at Pinnacle Workforce is here to help you with your concerns about the ACA and how it will affect your employment, your team, or even your ability to hire new team members.

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