Even if you’re healthy now, sooner or later there will come a time when you will need health insurance. Not having health insurance when you need it can result in large amounts of debt and bad credit ratings. Worrying about health insurance and the cost of your care is the last thing you want to do. The Affordable Care Act is expanding your options for health insurance and making them more affordable.
Starting as early as September 2010, insurance companies won’t be able to drop you when you get sick just because you made a mistake on your coverage application.
Starting as early as September 2010, if you have children under age 26, you can insure them if your policy allows for dependent coverage. The only exception is if you have an existing job-based plan, and your children can get their own job-based coverage. Many plans have made a business decision to provide this coverage earlier, so your child could be insured before September 2010.
Starting as early as September 2010, job-based health plans and new individual plans won’t be allowed to deny or exclude coverage to any child under age 19 based on health conditions, including babies born with health problems.
Starting in 2014, if your income is less than the equivalent of about $88,000 for a family of four today and your job doesn’t offer affordable coverage, you may get tax credits to help pay for insurance.
Starting in 2014, if your employer doesn’t offer insurance, you will be able to buy insurance directly in an Exchange that gives you power similar to what large businesses and members of Congress have to get better choices and lower prices.
An Exchange is a new transparent and competitive insurance marketplace where individuals and small businesses can buy affordable and qualified health benefit plans. Exchanges will offer you a choice of health plans that meet certain benefits and cost standards.