Insurance business has got a new boom due to this pandemic. People are now more worried about their health, life and of their loved ones too. This has given an immense rise to the insurance sector and people are now more intensely searching for cheap health insurance quotes.
Still choosing life insurance is a big task for many people who are not well-aware of new trends and doesn’t have detailed knowledge of insurance sector.
Tampa too is not untouched by this. Obamacare Insurance Tampa has also published many articles in which they have positively mentioned about the details of Obamacare Tampa plan so that people can be aware of all the essential details of the plan and can opt for the best which suits them.
SOME INTERESTING FACTS ABOUT OBAMACARE
Obamacare is a nickname. The official name for “Obamacare” is the Patient Protection and Affordable Care Act (PPACA), or the Affordable Care Act (ACA) for short.
Below are some of the most important things to know about the law:
● Obamacare expands access to health coverage. It does this by expanding Medicaid to single adults, expanding employer coverage, requiring insurers to cover preexisting conditions, offering cost assistance for premiums and out-of-pocket costs on plans sold on state Health Insurance Marketplaces and the federal marketplace HealthCare.Gov, letting young adults stay on their parents plan until 26, and more.
● Obamacare improves the quality of coverage. For example, all major health plans must now offer 10 essential benefits including maternity care, lab services, and mental health services.
● Obamacare’s cost assistance lowers premiums and/or out-of-pocket costs.
● Obamacare curbs healthcare costs. For example, via regulations and taxes on those who benefit the most from healthcare reform like insurers and drug companies .
For nearly 6 years between 2010 and 2016 the ACA Affordable Care Act aka Obamacare helped decrease the rate of private bankruptcies by approximately 50%! This proves to be just one example of the ways that Obamacare is working for millions of people in the United States.
Benefits, rights, and protections contrary to other insurance:
● Letting young adults stay on their parents’ plan until 26
● Stopping insurance companies from denying you coverage or charging you more based on health status
● Stopping insurance companies from dropping you when you are sick or if you make an honest mistake on your application
● Preventing gender discrimination
● Stopping insurance companies from imposing unjustified rate hikes
● Doing away with lifetime and annual dollar limits
● Giving you the right to a rapid appeal of insurance company decisions
● Expanding coverage to tens of millions by subsidizing health insurance costs through the Health Insurance Marketplaces (HealthCare.Gov and the state-run Marketplaces)
● Expanding Medicaid to millions in states that chose to expand the program
● Providing tax breaks to small businesses for offering health insurance to their employees
● Requiring large businesses to insure employees
● Requiring all insurers to cover people with pre-existing conditions
● Making CHIP easier for kids to get
● Improving Medicare for seniors
For more info : - medical financial group
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