Health Information

Health Information

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Health Information

Updated: August 1, 2018

What is the Affordable Care Act?

A comprehensive health care reform law enacted in March 2010 (sometimes known as ACA, PPACA, or “Obamacare".

This law has 3 primary goals:
  • Make affordable health insurance available to more people. The law provides consumers with subsidies (“premium tax credits”) that lower costs for households with incomes between 100% and 400% of the federal poverty level.
  • Expand the Medicaid program to cover all adults with income below 138% of the federal poverty level. (Not all states have expanded their Medicaid programs.)
  • Support innovative medical care delivery methods designed to lower the costs of health care generally.
Find more information about the Affordable Care Act, or read the full legislation. And you can also See if You’ll Save.

Health Insurance Terminology 

Premium  The amount you pay to an insurance company for a health insurance policy - this is usually a monthly payment. 

Deductible – The amount of money you must pay for medical services before your insurance begins paying.

Co-Insurance – The percentage of your medical costs that you are required to pay after your deductible has been paid. There is occasionally a maximum out-of-pocket amount that limits the amount of co-insurance you are required to pay.

Pre-Existing Condition  A medical condition experienced before the start date of your insurance policy. 

Exclusion – A medical condition that the insurance policy does not cover. 

Co-Payment  The amount that you are required to pay out-of-pocket, up front for a service or medication. 

How much does health insurance cost? 

The cost of a health insurance varies from plan to plan. Below are some good questions for you to ask to make sure you are choosing the best policy for you and your family:

  • What benefits are offered?
  • How much will I pay before insurance coverage begins? (How much is the deductible?)
  • What will I pay for services after I pay the deductible?
  • In total, how much will I have to pay if one of my family members or I become ill? (What is the out-of-pocket maximum?) 
Purchasing insurance plans with the lowest premium or with a very high out-of-pocket maximum can result in many services and treatments being uncovered by the plan.

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