The Affordable Care Act mandates that health insurance companies are required to provide certain levels of coverage with every plan. When it was first implemented, it required Americans to carry health insurance just like they carry car insurance. However, as of 2019, health insurance is no longer required at the federal level. Some states may still require it, so it’s important to check what the current mandate is based on where you live.
The Affordable Care Act also established marketplaces where people can review and compare healthcare plans to find the one that is right for them.
Are there different types of Obamacare insurance?
Yes, there are different types of health insurance plans under the Affordable Care Act. Obamacare coverage can vary depending on the level of coverage you purchase. In general, the plans are divided into four separate tiers.
- The bronze level typically has a lower deductible but also has lower levels of coverage than other tiers.
- The silver tier is generally considered to have moderate costs, including a lower deductible.
- Plans within the gold tier usually have higher monthly premiums but lower deductibles and out-of-pocket costs.
- Platinum plans generally have the highest monthly premiums but very low deductibles and care costs.