Enacted in March 2010, the Affordable Healthcare Act was designed to provide better access to health insurance. If you've never chosen health insurance (ACA) under the new system, you may feel somewhat confused. Keep reading to discover essential information about getting coverage under the ACA.
What Is the Health Insurance Marketplace?
The Health Insurance Marketplace allows individuals, families, and small businesses to enroll in health insurance. The marketplace offers some valuable features to help you choose your coverage:
- Compare coverage and affordability information
- Determine tax credit eligibility on private insurance, Medicaid and the Children's Health Insurance Program
- Enroll in a plan
When Can I Choose a Plan?
The Healthcare Marketplace is accessible every year during the open enrollment period. It usually spans from early November until January, but enrollment deadlines may change from year to year. If you experience certain life events, you may be able to choose a plan outside the enrollment period:
- Marriage or divorce
- Having a baby or adopting a child
- Changing jobs
- Losing your existing coverage
Can I Get Coverage With a Pre-Existing Condition?
You cannot be turned down for health insurance (ACA) if you have a pre-existing condition. Insurance companies cannot refuse to cover the costs of treating your pre-existing condition.
The ACA significantly changed how people purchase health insurance. Researching plans and understanding the marketplace is vital to getting the healthcare coverage you need.