Obamacare is a huge undertaking that has left many Americans confused. Here are some of the most frequently asked questions.
No. You will, however, be subject to a tax penalty if you do not obtain qualifying medical coverage.
Both Medicare and Medicaid programs will be expanded and their income requirements made less restrictive so that millions of low-income people will have access to them.
Under the current plans, children are eligible to remain on their parents’ insurance policies until the age of 26.
Obamacare makes it illegal for any insurance company to deny coverage to anyone because of a preexisting condition.
The amount you will pay is going to be determined by the quality of the coverage you choose. Shop around with different plans to find one that covers your medical and financial needs.
By some estimates, these measures will lessen the deficit by as much as $1 trillion. By others, it is estimated that the US could fall deeper in debt by as much as $6 trillion.
In order to fund these programs, the US government is going to attempt to reduce spending in unnecessary areas of Medicare and Medicaid to help fund Obamacare. There will also be increases in capital gains taxes and some other point of purchase sales taxes that will help fund the programs.
There will be a 0.9% increase in business taxes (as well as some individual income taxes) in the highest tax brackets to help fund the programs of the Affordable Care Act.
There is currently no evidence that suggests that Medicare premiums will increase because of Obamacare. There already is an occasional raise in the price of Medicare plans, but this is something that has occurred since the beginning of the program and rarely results in raises of more than a few dollars per month.
Absolutely not. Your healthcare is between you and your doctor!