Obamacare facts differ from some of the misconceptions being promoted. The debate over the Affordable Care Act or ACA is a contentious one. However, regardless of how one feels about the Act, it is important to understand the facts and debunk the myths about the law.
Although it is sometimes derided as a government takeover of health care, the Act does not replace private insurance with government health care. It does add new regulations to private insurance companies. However, this is a far cry from socialized medicine, as the bulk of insurance will still be provided by for profit companies.
The individual mandate portion which was upheld by the Supreme Court is misunderstood. Some people think it means a person could be sent to jail if they do not buy insurance. This is not true.
In fact, the law grants subsidies to most working and middle class families. Even families earning up to ninety thousand a year can receive subsidies. Also, really poor households are exempt from complying with the mandate altogether. This includes married couples who earn nineteen thousand a year or less for example.
The penalty for not purchasing insurance is small and the enforcement mechanism weak, Initially in 2014, the penalty is only 95 dollars annually. By 2016 it increases to 2.5 percent of household income or 695 dollars, whichever is greater. But even then it is only enforced by taking money out of a tax refund. Wages will not be garnished and fines will not be assessed otherwise.
Obamacare facts also include the fact that insurance companies can no longer deny a patient coverage from a pre-existing condition. They also allow children to stay on their parents policies until they turn twenty-six. These are two of the more popular provisions in the Affordable Care Act. The law will expand coverage to many Americans who are not currently covered under any plan.
Although it is sometimes derided as a government takeover of health care, the Act does not replace private insurance with government health care. It does add new regulations to private insurance companies. However, this is a far cry from socialized medicine, as the bulk of insurance will still be provided by for profit companies.
The individual mandate portion which was upheld by the Supreme Court is misunderstood. Some people think it means a person could be sent to jail if they do not buy insurance. This is not true.
In fact, the law grants subsidies to most working and middle class families. Even families earning up to ninety thousand a year can receive subsidies. Also, really poor households are exempt from complying with the mandate altogether. This includes married couples who earn nineteen thousand a year or less for example.
The penalty for not purchasing insurance is small and the enforcement mechanism weak, Initially in 2014, the penalty is only 95 dollars annually. By 2016 it increases to 2.5 percent of household income or 695 dollars, whichever is greater. But even then it is only enforced by taking money out of a tax refund. Wages will not be garnished and fines will not be assessed otherwise.
Obamacare facts also include the fact that insurance companies can no longer deny a patient coverage from a pre-existing condition. They also allow children to stay on their parents policies until they turn twenty-six. These are two of the more popular provisions in the Affordable Care Act. The law will expand coverage to many Americans who are not currently covered under any plan.
Obamacare Facts
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