President Barack Obama pauses as he speaks to reporters about the fiscal cliff in the Brady Press Briefing Room at the White House in Washington, Friday, Dec. 21, 2012. (AP Photo/Charles Dharapak)

Introduction To Obama Care

Obama Care is a nickname for the Patient Protection and Affordable Care Act (PPACA) a health reform law signed in 2010 by President Barrack Obama. This law aimed at providing health care to more Americans at affordable health insurance, improving the quality of health care and health insurance, regulate health insurance industry and to curb the increasing health care cost. This is a new way to protect, and guard the rights and benefits of people who previously had their coverage denied because of pre-existing conditions; being charged more because of being a woman, or cancellation because of making application mistake. This health care law came as a lasting solution to these issues.

It should be noted that all of the health insurance policies available through the health insurance exchanges comply with the rules of Obama Care. All the private health insurance policies comply with the Obama care policy and provide more than 10 benefits as part of the covered benefits

Because of the failing system in the health care that saw majority of Americans knocked and locked out the law was efficient at a time when unemployment rate was high and the poverty gap widened steadily. The law has different provision that address different aspects of the health care act

Starting the year 2014 most non-exempt Americans have to maintain minimum essential coverage throughout each year get an exemption or pay as per month fee on their year- end federal income taxes for each month they go without coverage. As from the year 2014 you need to keep your current plan or obtain health insurance (minimum essential coverage) and maintain it throughout the year. Failure to which you will require an exemption fee on your year-end Federal taxes for each moth you go without coverage.

Individual mandate is contained in the law act in which is a requirement to have insurance. Young people can stay under their parent insurance policy up to 26 and those who can’t stay have a marketplace plan of $100 or less after subsidies. As per 2015/2016 employers with more than 25 full-time employees will have to offer coverage to most full timers. And if the employer offers such coverage then employees can’t get cost assistance but can use the marketplace to buy other private insurance instead. Shopping around the marketplace allows you to cost assistance. This helps you to avoid under buying health insurance or over buying. The marketplace health plans have metal plans ‘Bronze, Silver, Gold or Platinum’ the higher the metal the better cost sharing plan and the wider the network will be.low metal plan is subjected to subsidy.