If you recall, The Affordable Care Act (ACA) or Obamacare, was signed into law on March 23, 2010 by President Obama.  ACA was created to reform both the healthcare and health insurance industry by controlling the growth in healthcare spending.  Whether through private or public health insurance ACA aimed to increase the affordability, quality, and availability to uninsured Americans.  Today, many Americans are able to purchase healthcare when before it was not possible because of preexisting conditions.

Open Enrollment Began November 1, 2016

Currently, Obamacare has reformed the American healthcare system to provide the following benefits to you and your family:

  • You did not lose healthcare coverage if you became ill or a mistake was made on your application.
  • Eliminated preexisting conditions and gender discrimination as reasons why insurance companies would decline coverage or raise your premiums.
  • President Obama allowed your children to remain on your healthcare policy until the age of 26.
  • Women’s health services saw a large improvement as many preventive treatments and screenings are now free such as birth control and annual wellness exams.
  • Extended services for seniors such as preventive care with no increase in premiums and controlled the cost of prescriptions.

Now that elections are over, what is going to happen to my coverage through Obamacare?

With a newly elected president, you can expect to see many changes from a new administration, such as:

  • President-elect Donald Trump and Republicans in Congress will seek to repeal Obamacare.
  • If administration succeeds a full repeal, the more than 20 million covered under ACA would lose coverage and cost assistance.
  • Congress and the new president would decline coverage if you have a preexisting condition.
  • President-elect Donald Trump and Congress would no longer allow for your children to stay on your healthcare policy until the age of 26.
  • Insurers could potentially sell life insurance across state lines.
  • Congress may grant you the taxpayer the ability to deduct health insurance premium costs on your tax return.

Contact our offices for any questions regarding The Affordable Care Act or other health insurance questions.