The Obama administration created the Affordable Care Act, which was already approved in many states nationwide. The public is offered several opportunities to obtain medical insurance. However, the new plan also creates a number of complications for individuals who are trying to participate in the new program as well as for the medical providers.
New insurance marketplaces, called exchanges, have been established in each state. The customer is allowed to contrast prices between many different companies and shop for insurance coverage based on age, occupation and medical conditions. The information provided by the exchanges will only allow individuals and small businesses to participate in any of the programs. Large companies, who employ more than 100 individuals, will continue providing their medical insurance without changes. If any of the participants meet the poverty guidelines, they will be directed to the Medicaid’s website and instructed about the application process. Any immigrants without proper documentation will be prevented from participation.
Each state has an option of combining the government’s terms and conditions with the exchange management. The federal government will be in charge of an exchange management should the state decide to opt out and not participate in any way. Since the new idea was recently implemented, the public is confused and unsure about the pros and cons of obtaining this type of medical coverage.
The Affordable Care Act is still in the stages of infancy and is being developed to meet the needs of the public. The state insurance exchange coverage will be determined by the location, the age of the patient and demographics within the region. The population between the ages of 21 and 29 will be greatly affected, preventing many people from acquiring the medical insurance due to the high cost of premiums. The elderly population will also suffer financially as the price of insurance coverage will be elevated three times more than what will be charged for the younger generation.
Individuals and familes within certain income limits will be offered a sliding scale credit to help them buy comprehensive coverage. Many people will not be able to afford this expensive new medical coverage. Most states consider creating state health insurance exchange based on statistics about their population, which may include illnesses and health conditions such as diabetes, hypertension and obesity. People who will not meet the proposed criteria may find it difficult to find affordable medical coverage because of their inability to pay the premiums. Each state will provide instructions, and patients are encouraged to become educated about the system.
