Tuesday, October 22, 2013

Affordable Care Act

The Patient Protection and Affordable Care Act will ensure that all American have access to quality, affordable health care and will create the transformation within the health care system necessary to contain costs. The Act will accomplish fundamental transformation of health insurance in the U.S. through shared responsibility and reform will eliminate discriminatory practices such as pre-existing condition exclusions. Achieving all these reforms without increasing health insurance premiums will mean that all American must be part of the system and must have coverage. Tax credits for individuals and families will ensure that insurance is affordable for everyone.
The Affordable Care Act has caused many changes but a major change took effect on October 1st, 2013, when the marketplace exchanges opened for enrollment for coverage that can begin as early as January 1st, 2014. Individuals and families have the option of comparing affordable health insurances that meet the guidelines required by the Obama administration.  NY State of Health is the official health plan marketplace for New York State. Through this website individuals, families, and small businesses can:

- Quickly compare health plan options and apply for assistance that could lower the cost of their health coverage.
- See if they qualify for health care coverage from Medicaid or Child Health Plus through the Marketplace.
- Calculate cost and select plans.

- See if you are eligible for a Tax Credit.

There are several health plans options offered via the marketplace. The different options are categorized in metal tier and are as follow: Bronze tier, Silver tier, Gold tier, and Platinum tier. Keep in mind as the metal tier increases the coverage and premium cost also increases. There is also a catastrophic tier offered to individuals under 30. However, this tier does not offer tax credit even if the individual qualifies for it in other tiers.

It is essential individuals review their current plan and prepare for the future as many current health plans may become non-existent. Remember uninsured Individuals will face fines.
The NY State of Health website offers information to individuals & families, employers, employees, broker, and navigators. Please visit http://www.healthbenefitexchange.ny.gov/what-ny-state-health to apply or call 1855-355-5777 to speak to a representative.

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