How does ObamaCare really work? ObamaCare is the commonly used name for the Affordable Care Act (ACA), which created the Health Insurance Marketplace where individuals and families can shop for health coverage from participating private insurance companies. Depending on household income and other eligibility requirements, consumers may qualify for premium tax credits that lower their monthly insurance premiums, and some eligible households may have access to $0 monthly premium ACA plans. However, a $0 premium does not mean all healthcare is free—deductibles, copays, coinsurance, and other out-of-pocket costs may still apply. For an easy-to-understand overview, visit our ACA Health Insurance Made Simple page to learn more about Marketplace coverage and financial assistance.
Understanding ACA Marketplace health insurance means looking beyond the monthly premium. Before choosing a plan, compare deductibles, copays, maximum out-of-pocket costs, prescription drug coverage, and whether your doctors and hospitals participate in the plan’s provider network. Your available plans, costs, and potential financial assistance depend on your individual circumstances, so don’t base your decision on what a friend or family member pays. Want help understanding your Marketplace options? Call Shields & Associates at 402-545-8954 or complete our Free Insurance Quote form to see what ACA health insurance plans and savings may be available to you.