Yesterday we discussed the first three changes in the health care system that will be taking affect from the Affordable Care Act. As many of us are aware, the Affordable Care Act, known commonly as ‘Obama-care’, is quickly taking affect across America. Whether people agree with this or not, it is becoming a reality with haste, and everyone with CT insurance health coverage should be aware of the changes ahead.
While the Act is significant in length and no one has an reasonably time to absorb it all in great detail, we’ve decided to spell out for you the big changes that are going to be taking affect, and how they may or will change your CT insurance coverage. Here’s issues 4-6:
4) Will I now be required to purchase health insurance if I don’t already have it? Well simply put, yes you will. If you don’t, you’ll be subject to a penalty of around 1% of your yearly income. For some, that may be around one hundred dollars, but for an entire family, that may be as much as $2000! If ou cannot afford coverage, you may qualify for Medicare.
5) What are the qualifiers for Medicare? This government program will be expanded by the federal government so that those individuals making less than $14,000 a year will qualify, and a family of four making less than $30,000 will be eligible. This is a state matter though, according to the Supreme Court, so every state’s qualifying factors may be different.
6) What about senior citizens? How does it impact them? The act actually has a significant influence on seniors, as their responsibility for paying for prescription drugs will be reduces. They’ll still need to cover around twenty-five percent of the cost, however that number will decrease significantly by 2020.
To find out the last portion of questions regarding the Affordable Care Act, return tomorrow for Part III!