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All health plans starting after 2014 cover a number of essential health benefits and free preventative services. All plans also have to offer all the protections contained within the ACA's provisions including the requirement to cover people with pre-existing conditions.
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By now it should be obvious that all Americans will benefit from the new benefits, rights and protections and many will now have access to quality affordable health insurance by 2014. Below is a quick overview of how ACA works for those without insurance and discuss the health insurance marketplace.
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- The fee in 2014 is 1 percent of your annual income or $95 per person, whichever is higher. The fee for uninsured children is $47.50 each, with a maximum of $285 per family.
- Each State created a Health Insurance Marketplace where uninsured Americans can buy health insurance and may receive cost assistance.
- If you already have health insurance or have insurance through your employer than you can keep it. You'll still enjoy all the rights and protections offered ACA like the elimination of pre-existing conditions. Please note that if you have a plan that was issued before 2010 (a plan with Grandfathered status) you may not be offered all of the new rights and protections.
- There are four types of plans you can buy on the marketplace. They are bronze, silver, gold and platinum. The platinum plan has the highest premiums, or monthly costs, while the bronze plan has the lowest premiums. The higher of the premium cost, the lower the out-of-pocket costs or copays.
- The cost of plans sold on the marketplace work on a sliding scale. Low income Americans may get free or low cost plans, those paying full price will pay more and may find their best deal by shopping outside of the marketplace.
- Remember if you make less than 400% of the Federal Poverty Level you and your family may be eligible for reduced premium rates and lower out-of-pocket costs through the marketplace.
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