Obama Care By: Kathia Torres Viviana Hurtado-Perez
Fact’s about Obama care. • The Affordable Care Act was signed into law to reform the health care industry by President Barack Obama on March 23, 2010 and upheld by the supreme court on June 28, 2012. • Obama Care's goal is to give more Americans access to affordable, quality health insurance, and to reduce the growth in health care spending in the U.S. • The fact is Obama Care does not replace private insurance, Medicare, or Medicaid. If you like your plan, you can keep it. Americans who like their health insurance can keep it until 2015 at which point all non-grandfathered health plans must meet the requirements of the ACA or be switched to a new plan.
Facts • ObamaCare offers a number of new benefits, rights and protections including provisions that let young adults stay on their plan until 26. • Stop insurance companies from dropping you when you are sick or if you make an honest mistake on your application, prevent against gender discrimination. • Stop insurance companies from making unjustified rate hikes, do away with life-time and annual limits, give you the right to a rapid appeal of insurance company decisions, expand coverage to tens of millions. • Subsidize health insurance costs, and require all insurers to cover people with pre-existing conditions.
Tax penalty for not having health insurance. • if you don't have insurance by January 31st, 2014 or obtain an exemption you get charged a fee for every month you don't have insurance on your year-end taxable income. • $95 per adult and $47.50 per child or 1% of your taxable income (up to $285 for a family), whichever is greater. (The penalty is based on modified adjusted gross income) • You are allowed a coverage gap of 3 months in a year and will be exempt from the fee for these months. • Americans making under 400% of the federal poverty level may be able to obtain free or low-cost health insurance from their State's Health Insurance Marketplace.
Subsidies • Obama Care's subsidies are aimed at people with incomes between 139% to 400% of the FPL (federal poverty level). • The current 139% FPL, which changes each year, is $23,050 for a family of four and the 400% FPL is $92,200. • Families who fall in make between 139% and 400% FPL will be eligible for subsidies, although those making more will get considerably less cost assistance.
Exemption • Those who have insurance through work or currently do not have insurance obviously have nothing to worry about when it comes to the tax penalty. • Those on Medicare or Medicaid will also be exempt. • • People with incomes below the threshold required for filing taxes (in 2012, $9,750 for a single person and $27,100 for a married couple with two children).
Signing up for the health insurance marketplace • Online Health insurance market place works like a car insurance price comparison websites work now. • The following information would be needed • Including your family size. • Tax info. • income and medical history.
Obama Carehealth plan Benefits Bronze Plan Silver Plan A value that covers only 70%. Is a choice reasonably for families who historically use medical services. • Lowest cost available. • An value of 60% coverage. Platinum Plan Gold Plan Is the highest premiums offered. 90% of the medical plans are covered. A value that covers 80%
New Mexico Medicaid Expand • New Mexico will expand its Medicaid program in 2014 to cover households with incomes up to 133% of the federal poverty level. That works out to about $15,800 a year for 1 person or $32,500 for a family of 4. You can find out whether you qualify for Medicaid in New Mexico 2 ways: Contact your state Medicaid agency right now or fill out an application for coverage in the Health Insurance Marketplace
Blue cross blue shieldHealth Plan Benefits Silver Plan Bronze Plan A value that covers only 60%. While you cover 40% • A value that covers only 70% • While you cover 30% • These discounts help lower the out-of-pocket costs like your deductible, copayment and coinsurance. Gold Plan • A value that covers only 80%. • While you cover 20%
Blue Cross Blue SHIELD (Blue PPO Gold 001) $161.69/month • -Office Visit for Primary Doctor: $30 Copay. • -Office Visit for Specialist: $50 Copay. • -Annual Deductible: Individual: $3,250 • -Annual Out-of-Pocket Limit: Individual: $3,250 include deductible.
Blue Cross Blue SHIELD (Blue PPO Silver 004) $139.80/month (Blue PPO Bronze 006) $110.33/month -Office Visit for Primary Doctor: 0% Coinsurance after deductible. -Office Visit for Specialist: 0% Coinsurance after deductible. -Annual Deductible: Individual: $6,000 -Annual Out-of-Pocket Limit: Individual: $6,000 include deductible. • -Office Visit for Primary Doctor: $35 Copay. • -Office Visit for Specialist: $55 Copay. • -Annual Deductible: Individual: $3,000 • -Annual Out-of-Pocket Limit: Individual: $6,350 include deductible.
Be ware of scam • Beware of Fake Obama care Insurance Marketplace Sites. • SCAM WARNING: Affordable Care Cards
References • https://www.healthcare.gov/find-premium-estimates/ • http://obamacarefacts.com/obamacare-facts.php