“Obamacare is government insurance.” – This is a common mistake about Obamacare, however, it is not government insurance. It is a law (Patient Protection and Affordable Care Act, aka Obamacare) that requires 10 essential health benefits to be covered by private companies that will offer health insurance. The following ten categories were determined to be essential health benefits:
- Ambulatory patient services
- Emergency services
- Maternity and newborn care
- Mental health and substance use disorder services, including behavioral health treatment
- Prescription drugs
- Rehabilitative and habilitative services and devices
- Laboratory services
- Preventive and wellness and chronic disease management; and
- Pediatric services, including oral and vision care
Private companies will offer plans “on the exchange” and “off the exchange.” Click here to learn more about the Exchange. Plans must meet the requirements above to be considered creditable coverage.
Plan enrollment will start on October 1, 2013. If coverage is purchased before December 15th, the effective date will be January 1, 2014. After 2014, the deadline for a 1st of the month effective date will be the 15th of the preceding month. If you have any other questions about something you are not sure, feel free to contact us via our contact page.