Tuesday, March 7, 2017

Moving Forward: Possible Effects of New Health Insurance Marketplace Coverage Options

At the end of January 2017, the open enrollment for health insurance enrollment through Obamacare has closed. To date, while many recognize the need for medical insurance, there are still a number of people who are hesitant to sign up for it. Not only that, but with President Trump’s victory comes rumors of drastic changes to or possible total repeal of the Affordable Care Act (ACA).

The Promise of Obamacare

Since 2010, the Affordable Care Act (ACA), fondly called Obamacare, has aimed to make health insurance simple to manage and easy to obtain for every individual. As of 2016, there are more than 11.7 million people who have found better and more affordable health insurance plans through the marketplace. This was an impressive improvement over the 47 million uninsured people prior to the implementation of the new health insurance marketplace.

Possible Futures for the ACA Marketplace

A few weeks after the national elections, there was a buzz about the possible repeal of the ACA. Now that President Trump has taken office, lawmakers under his administration have already been pushing for their own versions or revamps of the Obamacare program. For instance, Rep. Tom Price proposed increasing the premiums or contributions of each individual for their insurance accounts. He would like these paying individuals to receive tax credits so they can have enough funds set aside for their medical expenses. Read more from this blog: http://bit.ly/2m0PJGW

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