Some of us didn’t understand Obamacare before and we sure as heck don’t understand it now. Of course, we’d never admit that to our friends and family in heated dinner-table politics, it’s just easier to keep quiet.
In a nutshell, the expected benefits of the ACA (Affordable Care Act, affectionately called, Obamacare) expand coverage to more than 30 million people. The ACA lowers healthcare costs in general, ensures free preventive care and people with preexisting conditions cannot be denied healthcare. Pretty simple when it comes down to it, but there is a lot more going on.
On July 2nd, 2013, the United States Treasury announced that employers will not be mandated to provide health insurance to their employees until 2015. This effectively puts off a big part of the ACA for a year and half. Under the ACA, companies with over 50 employees have to offer affordable health coverage. The delay allows the government the time to simplify the new reporting requirements and let’s employers update insurance coverage.
For more on Obamacare updates, check out the infographic below presented by InsuranceQuotes.
From: Bankrate Insurance’s InsuranceQuotes.com
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