The Affordable Care Act, also known as Obamacare was written into law back in 2010. However, there are still many who may not understand the main aspects of this legislation, which is one of the largest that was passed in recent times. If you are considering the services of an Affordable Care Act attorney, you will want to review the basic details of what Obamacare is all about.
What is Included in Obamacare
Known officially as the Patient Protection and Affordable Care Act (ACA), the law is made up of numerus subsets that include the following:
- Affordable Health Care for America Act
- Patient Protection Act
- Health Care and Education Reconciliation Act
- Student Aid and Fiscal Responsibility Act
There are also amendments to other laws such as the Health and Public Services Act and the Food, Drug, and Cosmetics Act. All of the legislation that was written into law is designed to reshape the way many Americans receive healthcare insurance.
How It Works
Obamacare is a very long, complex law (about 20,000 pages long) that reforms the current healthcare system. The goal of the legislation is to provide coverage for the up to 45 million Americans who currently do not have health insurance.
The reforms themselves include the individual and corporation mandate, which requires payment to the government if they elect not to acquire healthcare coverage. In addition, there are a number of new benefits, insurance company rules, tax requirements, funding areas, educational elements, job creation and more that are part of the overall law.
Currently, there are four plans available under Obamacare that allows individuals to choose one that best suits their particular needs. In order to choose from one of the plans, you will need to qualify for Obamacare coverage.
How to Qualify
Since its inception, the ACA is now fully implemented and provides ways for those without healthcare insurance to qualify for coverage. In 2015, household income that was less than $11,770 qualified for full subsidies under the Obamacare law. The income amount is set to go up about $100 every year in order to comply with the federally recognized level for poverty. You may consult with an Affordable Care Act attorney if you are having trouble complying with the Obamacare law in terms of what you must pay.
If you earned 138% or less compared to the current poverty level, you may qualify for Medicaid if you live in one of the 30 states that expanded coverage. If you live in one of the 20 states that did not expand Medicaid, you will qualify for subsidies to help offset the cost of the ACA requirements.
If you earn more than 138% of the current poverty level, then you will need to subscribe to healthcare insurance or pay a penalty under the individual mandate. Understanding the breadth of the ACA may require the services of an Obamacare lawyer. If you are in need of assistance, an attorney skilled in ACA law can help you in times of need.
Here is a link to the Affordable Care Act website, which contains all the information you may need.