How Much Do You Know About ACA Health Insurance?
Greg Daugherty | Oct 12, 2017
- 0 The U.S. government
- 1 Private Insurance companies
- 0 Both
You are correct! You are incorrect!
Under the Affordable Care Act, commonly known as Obamacare, you may be eligible to buy health coverage on the insurance marketplace. The policies are sold and administered by:
The correct answer is 2. If you don’t have health insurance through a job, Medicare, Medicaid, the Children’s Health Insurance Program (CHIP), or another source that provides qualifying health coverage, the marketplace can help you get covered.
In 2017 most people were able to find a marketplace plan that cost them:
The correct answer is 1. According to the Department of Health and Human Services, 77 percent of enrollees in 2017 could find a plan for $100 or less a month, after accounting for tax credits. You can learn more about how the tax credits work, and whether you’re eligible, on the IRS website.
Open enrollment for 2018 runs from:
The correct answer is 1. By Nov. 1, 2017, you should be able to see the plans that are available to you, and their prices, at Healthcare.gov. Coverage begins on Jan. 1, 2018.
You may be eligible for a special enrollment period, allowing you to sign up after open enrollment ends, if you:
The correct answer is 4. Learn more about whether you qualify for special enrollment .
If you leave your job and lose your job-based insurance as a result, you may be eligible for a special enrollment period:
The correct answer is 3. You’re eligible whether you left your job by choice or were fired (click on “Losing job-based coverage”). You also qualify if your employer stops offering coverage or you have a reduction in work hours. But you don’t qualify if you lose your job-based coverage because you didn’t pay your premium.
If you have a pre-existing health condition, a marketplace plan must cover it:
The correct answer is 1. Under current law, health insurers can no longer charge more or deny coverage to you or your child because of a pre-existing health condition like asthma, diabetes, or cancer.
Children who have been insured under a parent’s job-based or marketplace insurance plan must generally buy their own coverage after age:
The correct answer is 3. Health insurance for young adults covered by a parent’s job-based plan usually ends during or shortly after their 26th birthday. (Check with the plan or the parent’s employer for the exact date.) At that point young adults qualify for a special enrollment period so they can buy health insurance on the marketplace. But children covered by a parent’s marketplace plan can stay on that until Dec. 31, even if they turn 26 earlier in the year.
True or false: If you don’t have health insurance, either job-based or a marketplace plan, you may have to pay a penalty.
It’s true. If you go without health insurance for more than two consecutive months, you could be subject to a penalty, formally known as an “individual shared responsibility payment.” There are, however, some exceptions.
True or false: Marketplace plans must provide dental coverage.
It’s false. Some plans provide dental coverage, while others don’t. You can buy a separate dental plan, but only if you are buying a health plan at the same time.
True or false: Marketplace plans must provide mental health coverage.
It’s true. All plans must provide coverage for mental health services and substance abuse treatment.
If you’re self-employed, you’re eligible for marketplace coverage unless:
The correct answer is 2. However, if you have fewer than 50 employees, you may be eligible for the Small Business Health Options Program (SHOP) Marketplace.