Understanding the Affordable Care Act
Here is some information to help you understand it a bit better.
Most everyone needs to have health insurance
When you’re looking for health care coverage, check the health plans you’re considering to be sure it says it meets “ACA minimum essential coverage.”There are several ways to buy health insurance:YouremployerHealthinsurancecompaniesHealthInsuranceMarketplaces Keep in mindOpen enrollment is your time tobuy health insurance.
Open enrollment is a yearlytime period set by the ACA. It’s your time to shopfor individual health insurance and purchase a plan so you won’t pay a penalty at tax time.
If you miss this window of time to purchase a plan, there are some exceptions called Qualifying Life Events that let you buy a plan during a Special Enrollment Period. In some instances, you can get tax credits to help you pay for yourhealthinsuranceDepending on your family situation and annual income, you may be able to get a tax credit to help offset your health insurance costs. You can visit Health Care to see if you qualify for a tax credit before you start buying your plan.