How the Affordable Care Act is Affecting Individuals in TN

How the Affordable Care Act is Affecting IndividualsHow the Affordable Care Act is Affecting Individuals in TN

As we discussed in an earlier post, titled “Understanding the Impact of the Affordable Care Act on Employers”, the intent of the Affordable Care Act (ACA) is to ensure all Americans have access to affordable health insurance. Once this legislation is fully implemented, all Americans will be required to have health insurance through either a public program such as Medicaid or Medicare, by purchasing coverage from a state-based health insurance exchange, or by buying it through their employer. With this healthcare reform, also referred to as ObamaCare, came a lot of confusion, especially from individuals who were not already receiving benefits from their employers.

The most common question people have about the reform is, “How will it affect me?” Here’s a brief overview of what you can expect as the ACA goes into effect in 2014 and 2015.

You will be buying a different policy. Individual coverage by state will be changing, dramatically it some states. Many people buying coverage for themselves and their families will be able to choose form an entirely new selection of policies with more comprehensive benefits and services.

Your health plan will pay for a greater percentage of costs.  This is required by the ACA. This means that your premiums will cover more benefits and services and that our out-of-pocket expenses (co-pays, deductibles and co-insurance) will be capped.

Your insurance will provide more comprehensive benefits. Prior to 2014, consumers may have had to pay out-of-pocket or buy supplemental coverage for extra benefits.

You can’t be denied coverage for preexisting conditions and you can’t be charged higher premiums for poor health. Health plans are now being required to issue coverage to anyone who applies for it, and will be prohibited from charging higher prices based on health status.

These are just a few of the positive ways that the Affordable Care Act is affecting individuals. As with any bit change, there will also be factors that some people see as disadvantages. But understanding the changes can help you make an informed decision about your health insurance options.

At Barnes Insurance Agency, we not only offer Sevier County Health Insurance, but we specialize in helping both our individual and business clients navigate through the new provisions under the Affordable Healthcare Act, and help them understand what it means for them as an individual or an employer. We will continue to bring our customers information about this important issue that affects all Americans. In the meantime, please visit our Sevier County Insurance Exchange page for more information on the Healthcare Reform, or contact us at (866) 733- 5424.



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