Affordable Care Act (ACA) Marketplace

What is the Affordable Care Act?

The Affordable Care Act (ACA)—also known as Obamacare—is a law passed in 2010 to make health insurance more affordable, accessible, and fair for everyone in the U.S.

1. Helps you get health insurance
    
   • You can shop for insurance on the Health Insurance Marketplace (HealthCare.gov or your state’s site).
      
   • It offers subsidies (money from the government) to help lower the cost for people who qualify based on income.
      

1. Protects people with pre-existing conditions
    
   • Insurance companies can’t deny you or charge you more if you have an illness or health issue.
      

1. Covers essential health benefits
    
   • All ACA plans must include things like:
      
     • Doctor visits
        
     • Hospital care
        
     • Prescription drugs
        
     • Mental health care
        
     • Maternity care
        

ACA plans are grouped into metal tiers—but they don’t affect the quality of care, just how you and the plan share the costs:

Metal TierWhat You PayWhat the Plan PaysBronzeLow monthly cost, high out-of-pocket~60%SilverModerate monthly cost and out-of-pocket~70%GoldHigher monthly cost, lower out-of-pocket~80%PlatinumHighest monthly cost, lowest out-of-pocket~90% 

Silver Plans are special: If you qualify for extra savings (Cost-Sharing Reductions) based on income, you must choose a Silver plan to get them.

If your income is between about 100% and 400% of the federal poverty level (or higher in some states), you may get:

• Premium tax credits: Lower your monthly payment.
   
• Cost-sharing reductions: Lower your deductibles and copays (only on Silver plans).
   

Who Should Use ACA Plans?

• People who don’t get insurance through a job
   
• Freelancers, gig workers, or early retirees
   
• People who lost Medicaid or job-based coverage

A great alternative to the ACA is LIFE X health insurance.

Click here to make an appointment.

Email us at team@smartinsurancestrategies.com

Call us at 704-940-6654

Text us at 704-360-0462

LifeX is available only through certified brokers like us. Call or text to get started.