The Affordable Care Act, also known as Obamacare, created some big changes in health insurance. These changes are designed to give consumers increased protection and guaranteed minimum coverage for essential care. Plans that meet the criteria outlined by the ACA are known as Affordable Care Act compliant. All ACA approved plans provide coverage for:
1. Outpatient care
2. Emergency room care
3. Hospital inpatient care
4. Pre and post-natal care
5. Mental health and substance abuse treatment
6. Prescription drugs
7. Lab tests
8. Preventative services
9. Pediatric services
10. Rehabilitory services after an accident or due to a chronic illness or disability.
ACA plans come in five different coverage levels, known as metal plans:
BRONZE plans: Pays around 60% of healthcare costs
SILVER plans: Pays around 70% of healthcare costs
GOLD plans: Pays around 80% of healthcare costs
PLATINUM plans: Pays around 90% of healthcare costs
CATASTROPHIC plans: the lowest level of coverage and are only available to people under 30 and those with a hardship exemption.
Click here for more information about ACA plans.