Since the Affordable Care Act (ACA) was signed into law in March 2010, ACA plans have changed the way health insurance works in the United States. Even though these plans have been around for about 13 years, it can still be a bit confusing to navigate finding the right ACA plan on your own. You may not even fully understand what they are, so today we’re going over a few key facts you should know about ACA plans.
• All ACA Plans Cover 10 Essential Health Benefits- There are many ACA plans, but no matter which one you choose, you can rest assured that it will cover these ten health benefits: outpatient care, emergency services, hospitalization, maternity and newborn care, prescription drugs, mental health and substance abuse disorder services, rehabilitative services, laboratory services, preventive care, and pediatric services.
• ACA Plan Levels Are Differentiated by “Metals”- The four ACA plan levels are Bronze, Silver, Gold, and Platinum. These levels differ in how the insurer splits costs with you regarding deductibles and copays. For example, you’ll pay a larger share if you have a Bronze plan and a smaller one if you have a Platinum plan.
• ACA Plans Are Available to Almost Everyone. As long as you are a U.S. citizen living in the country, you are not incarcerated, and you are not covered by Medicare, you should be eligible for ACA plans.
• You Can Buy ACA Plans on Your Own- Instead of having to rely on an employer or a government-run program, you can buy an ACA plan on your own. So, if you don’t have the option of enrolling in an employer-sponsored plan, you can still get the health coverage you need.