The Affordable Care Act Affects us all.
How will Obamacare affect me?
Obamacare insurance mandates and regulations extend to businesses and individuals alike. Most individuals are required to obtain health insurance coverage if they are not covered under their employers plan. Businesses which employ 50 or more full-time equivalent employees are required to provide health insurance or face steep Obamacare fines. For more information regarding how the Patient Protection and Affordable Care Act (PPACA) specifically applies to you, visit our Obamacare employer guide or the employee health insurance page.
While the individual mandate requires almost all U.S. citizens to obtain acceptable health insurance coverage, you may already have complaint insurance. If this is the case, Obamacare won’t have much impact on you as long as you maintain acceptable health insurance coverage. Here is a list of coverage options which meet the Obamacare standards. If you were covered by one or more of these programs for the entire year then you meet the Obamacare individual mandate requirements.
- Medicaid or the Children’s Health Insurance Program (CHIP)
- Veteran’s health program
- A plan offered by an employer which meets Obamacare minimum standards
- Insurance purchased on your own which adheres to Obamacare standards
- A health plan which was in existence prior to the health reform and grandfathered in
If you were not covered by one of these programs, or if your insurance does not meet the minimum standards outlined in PPACA, you will be more directly affected. Failure to obtain acceptable insurance results in penalties and fines which grow over time. By 2016, the penalty for going without insurance will be the lesser of $695 per adult or 2.5% of your total income! Contact Jackson Kahl Insurance to find out how Obamacare will affect you.
Understanding PPACA will help you avoid costly fines and penalties. Relying on a trusted Obamacare insurance expert is the best way to stay compliant with the Affordable Care Act and its numerous regulations. Jackson Kahl has the in depth understanding of Obamacare you can rely on. We offer cost efficient insurance solutions for individuals and businesses which meet the Affordable Care Act standards. Trust our expertise to steer you through the maze of PPACA.