Question 1

Does the ACA create insurance

Accepted Answer

No, the ACA does not create new insurance policies. It is instead a law that regulates the insurance industry to provide affordable, accessible, and quality health insurance through private insurance to individuals. It also expands on existing public insurance, such as Medicare and Medicaid.

Question 2

Do I have to have health insurance under the ACA?

Accepted Answer

The short answer here is yes. Under the ACA individual insurance is mandated, and you will have to be covered for at least 10 months of a year to avoid paying a penalty on your taxes. You may also qualify for exemptions from paying the penalty (which is monthly) for up to three consecutive months with a “coverage gap” exemption.

Question 3

What does the ACA do for me?

Accepted Answer

The ACA has largely lowered the cost for health insurance plans, making them affordable for many people. It provides a range of protections and rights for consumers regarding what must be covered by insurance companies, increases in insurance rates, and choice of doctor. It allows young adults to remain on their parents’ plans until age 26. The ACA also makes certain demands of insurance providers, such as covering without increased charge those with pre-existing conditions, and making it illegal to cancel coverage for people who become ill.

Question 4

Does the ACA require my employer to offer coverage?

Accepted Answer

That depends on the company for which you work. If your workplace employs over 50 people, then it is required to offer its employees health insurance benefits. If not, the ACA has opened up the marketplace to provide quality, affordable options for individuals.

Affordable Care Act (ACA) FAQs

1. Does the ACA create insurance?

2. Do I have to have health insurance under the ACA?

3. What does the ACA do for me?

4. Does the ACA require my employer to offer coverage?

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