CareNovate Magazine Summer/Fall - The Premier Issue | Page 16

Learn "Obamacare" &

Get Covered

Key Things You Need To Know Before October 2013

The new health care law, Affordable Care Act (ACA) also known as “Obamacare” turned 3 year old, March 2013 however, the majority of America’s uninsured still do not know about the law. Many of the people who stand to benefit the most from these changes don’t know about the new health coverage options they will soon be eligible for.

FACTS! Nearly 50 million Americans are living without insurance today. Over half of the uninsured have been without coverage for more than three years.

Another 21 percent have been without coverage for between one and three years. 78% of the uninsured are in a working family. 44% of Americans have shopped for health insurance outside of their job, and a majority of those have had significant challenges finding quality insurance they can afford. 69% of uninsured adults said that one of the reasons they are uninsured is because the cost is too high or they lost their job, compared to just 2% who said they are uninsured because they do not need coverage. About 78% of the uninsured don’t know that they will be able to purchase insurance in the new health care exchanges created by the Affordable Care Act. 83% of the people who may be eligible for the new Medicaid expansion do not know about the new coverage options coming. More than half of the uninsured say they want help figuring out what financial assistance they may qualify for and choosing a health plan that’s right for them.

HERE'S HOW IT WILL WORK:

If you work for a small business, or are self-employed, or work part-time and your employer doesn't offer coverage, you'll be able to choose from the same plans as your Member of Congress, get a break on the cost (a new tax subsidy that will reduce the cost of your plan before you pay anything toward it), and benefit from financial protections limiting how much you and your family will have to pay out-of-pocket each year.

If your employer offers coverage that's inadequate or unaffordable (affordable = a plan that costs less than 9.5% of an employee’s W-2 wages, adequate = a plan than pays at least 60% of covered health care expenses), you aren't stuck with that terrible coverage anymore. Instead, you can choose to get covered in the new marketplace, and you'll get the same break on costs as everyone else.