Affordable health insurance is either already available or it is years away, depending on your point of view. Many see the Affordable Care Act, or universal health care law, as the answer to health care costs and are waiting for it to be fully in force. Other people contend that health insurance for most budgets is available now if you know what to look for and where to look.
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There is merit in both points of view. The Affordable Care Act will certainly benefit many people and may even lower some costs. There are also many good deals right now for people who do careful research and shop the health insurance market for the best values.
Affordable Care Act
How will the Affordable Care Act affect health insurance? According to proponents, the Affordable Care Act will create new marketplaces for health insurance that will result in lower costs for all Americans. State run health care exchanges will be established and people and small businesses will able to buy insurance in the same way as members of Congress do now. These exchanges will have eligibility standards and regulations imposed upon them and the insurance companies who are members of the exchanges will have to comply with them. This will result in lower costs for everyone.
A visit to the White House web site will show you some details of the Affordable Care Act. Right now, insurance companies are being prohibited from charging copayments or deductibles on a whole range of preventative health services ranging from mammograms and immunizations to certain services for pregnant women and new mothers. This reduces out of pocket expenses for affected individuals. Eventually denial of coverage for preexisting conditions will be prohibited completely.
Many people who struggle today with very high premium costs or have no coverage at all due to these provisions in existing health insurance policies will get relief. Again, major savings for individuals will be had. It is clear that efforts to reduce health care costs are in place and will continue to have positive effects for all.
The Affordable Care Act will also allow young adults to stay covered by their parents’ health care plan for a longer period of time than they are covered now.
The cost to them and their families will be much lower until they are ready to enter the workforce and begin paying for their own health insurance plans. There will be tax credits made available to small businesses to reduce their costs which they can pass on to their employees and save them money in premiums.
The Commonwealth Fund has an excellent in depth analysis of how health care will be more affordable under the provisions of the Affordable Care Act. They are of the opinion that reducing health care out of pocket expenses for lower income families will have a great impact on their quality of life.
Implementation Of The Affordable Care Act
Where is the implementation of the Affordable Care Act at now? Slightly more than half of the Affordable Care Act’s provisions have become law as of early 2012. A complete time line detailing each new piece of the law and the date of its enactment can be found at the healthcare.gov website.
Finding Good Health Insurance Now
How can I find good health insurance now? The most important thing to do is evaluate your needs and do some research on what is available. You can even do this research online if you wish. You can really save a lot of money with a good health insurance comparison. The time spent doing this can save you many hundreds of dollars each year in premium costs alone!
Take a look at how health insurance deductibles impact your monthly premium cost. Go with a plan where you pay as much of the deductible as you can afford and your monthly premiums will be lower. This can be particularly important when looking at out of pocket expenses for things like prescription drugs. Some health insurance plans that allow you to get generic drugs often have lower premium costs.
Consider the types of plans that exist. For example you can look at coinsurance versus copayment health insurance plans. One will be right for your budget. If you need help, speak with a professional such as a health insurance broker or a financial advisor. Taking the time to get this right can make all the difference for you.
To begin looking at health insurance rates and doing your own comparison, just enter your ZIP code into the FREE search tool!