The original Affordable Care Act has been in effect since March of 2010. Some elements of the ground-breaking legislation have been significantly altered and changed in the past 12 years, but if your income is 100% to 400% of the federal poverty-level guidelines, you may qualify for health insurance coverage or tax benefits under the law that could save you significant amounts of money or provide you superior levels of coverage compared to what you can access elsewhere.
New legislation continues to shape the Affordable Care Act. Just recently, it was announced that there will be a special enrollment period this year for anyone experiencing a job change, a change in marital status, or individuals aging out of a family policy. For those who have incomes lower than 150% of the federal poverty level, there are even plans available with $0 premiums. This means that individuals with an income of less than $19,320 (or families of 4 with an income of less than $39,750) may qualify for health insurance that doesn’t have a monthly cost, although they may have copays, deductibles, etc.
The Affordable Care Act has made affordable insurance options available to more Americans, but like many government programs, the specifics and guidelines can be very confusing. You don’t have to navigate the marketplace on your own or fill out an application without help. Reach out to us here at Elite Benefits Group and we can help you through the whole process. From figuring out if you qualify for coverage to educating you about the various options you can consider to completing your application, we can help at each step along the way.