If you are one of the 80% of Americans that get your health Insurance either from your employer or the federal government (through Medicare and Medicaid), then you are probably wondering how the Affordable Care Act (AKA Obamacare) is going to affect you. We have the answer for you in this Obamacare Summary. If you already have healthcare, then the part of Obamacare that affects you have already been implemented. Yes, you may not notice it but the part of the law that affect you have been working for sometime now. The first one is that Insurance Companies cannot deny you healthcare if you have a pre-existing condition. Second, they cannot drop you coverage because of the pre-existing condition or charge you more. Second, kids can now stay on their parents’ insurance until they turn 26. This is a big deal and more than 3 million youth people have already taken advantage of this provision. Check out this video that talks about how Obamacare affects young people. Checkout this website for more on the Obamacare Individual Mandate and you.
That is because healthcare cost tend to stretch the budget of young adults when they hit the workforce after college. By allowing them to stay on their parents insurance for a little bit longer, they are able to get the financial flexibility to pay off student loans, advance in their career before they begin to fully buy healthcare policies on their own. We think that any Obamacare Overview should highlight this point as many people do not know this, and there are young people out there struggling without health insurance. If you want more information about the Affordable Care Act, visit the Washington Post or the Kaiser Family Foundation. These are two organizations that have dedicated tremendous resources to understanding this complicated law and breaking down the elements that are relevant to individuals, Families, Small Businesses and Larger Employers as a whole. When you take the time to understand the law, you will find that a lot of the noise is about not much.