Understanding Obamacare

By
Real Estate Services with Think Glink Media

While there is a lot of political debate regarding government regulation on health insurance, it’s important to understand the policy in effect.

The Patient Protection and Affordable Care Act, often called Obamacare, has been in effect since 2010. However, the individual mandate was on shaky ground until the Supreme Court upheld its constitutionality during the 2012 summer. 

What does the Affordable Care Act (ACA) mean for you? 

At the most basic level, all Americans are required to have insurance. 

If you already have health insurance through your job, here are 5 portions of the law, some already in effect, that will impact your health insurance:

1. Children will be covered under their parents’ health insurance until age 26.

2. Health insurance cannot be denied to people with preexisting conditions, starting in 2014.

3. Women cannot be charged more for health insurance coverage.

4. More preventive coverage is mandated. 

5. Insurance companies will not be able to raise premiums by double digits without justification.

For more information regarding the Affordable Care Act, read the full blog post here

 
 
 

 

 

 

 

Ilyce Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com, The Equifax Personal Finance Blog and CBS Moneywatch She is Chief Content Strategist at RealtyJoin.com, a community for real estate investors.

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Rainmaker
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Karen Fiddler, Broker/Realtor
(949)510-2395
HOM Sotheby's Intl Realty, 949-510-2395

And most private insurance companies will go out of business, which I guess was the point. Ugh

September 17, 2012 01:08 PM
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Richard Weisser
Richard Weisser Coweta Newnan Homes for Sale
Better Homes and Gardens Real Estate Metro Brokers

Premiums will rise yearly by the maximum amount from now on. What were they thinking when they made this law?

September 17, 2012 06:11 PM
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Ilyce Glink
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Think Glink Media

Karen and Richard- Obamacare is a big topic of discussion and debate especially in the 2012 presidential election. We'll just have to wait and see what happens after November 6. 

September 27, 2012 09:27 AM
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