101 (Video Transcript)
If you’ve clicked on this video, then you probably have some
questions about the new healthcare law, called the Affordable Care Act, and how
it’s going to affect you and your family.
Under the new law, everyone who wants to buy health
insurance will now be able to. Even if you have a pre-existing condition of
have been denied coverage before, you’ll be eligible to get coverage.
For the vast majority of Americans who receive health
insurance from an employer or through a spouse, almost nothing changes. If your
employer offers insurance, all you need to do is signup during open enrollment
and you’re covered.
Probably the biggest change is the requirement that everyone
now needs to have or purchase health insurance. And if you choose not to buy
coverage, the government will likely charge you a penalty.
For those of you who don’t have a job that offers healthcare
benefits, you’ll need to purchase coverage through one of the new healthcare
insurance exchanges. If you live in California, New York, or one of the other states
that have their own exchanges, that’s where you’ll shop for coverage. If you
don’t live in one of the states, you’ll need to use the federal exchange.
So how do the exchanges work? During the open enrollment
period, all you have to do is fill out an application and wait for it to get
processed to find out what you’re eligible for. For the application, you’ll
need to enter some important information, such as your household income.
Depending on your income level you may qualify for Medicaid, lower-cost
insurance options, or some form of assistance.
Once your application is processed, you’ll learn what plans are
available for you for as well as any financial assistance options. With both the
state and federal exchanges, you’ll be able to shop for and compare plans that
fit your budget.
If you’d like to learn more about the Affordable Care Act or
shopping for insurance, take a look at the health insurance information we have
here at Healthline or click over to the official US government site at
Learn how the marketplace works, how to shop for plans, and what levels of insurance you can choose from.
Tips for shopping »
Learn who is eligible for coverage and what happens if you already have insurance.
Read more »
Learn how and when the most important parts of the healthcare reform are scheduled to take effect and what it means for consumers.
Open enrollment dates »