what is obama careSo what is Obama Care anyway?

Affordable care act (ACA) also popularly known as Obama Care, is the signature health care reform law passed during the first term of president Barack Obama. Its a major overhaul of health care system in the united states with the goal of providing affordable, universal health care to majority of residences of the united states. More information on what is obama care can be found at healthcare.gov.

Following are the main key features of the obama care law:

Insurance Companies To Provide Easy Summary of Benefits (SBC) and Coverage:

The goal of this requirement is to provide consumer easy way to understand and compare their insurance plans.Insurance companies to provide short, plain language Summary of Benefits and Coverage and A uniform glossary of terms commonly used in health insurance coverage, such as deductible and co-payment .All insurance companies and group health plans must use the same standard SBC form to help consumer compare health plans.

Provides Coverage to Americans with Preexisting Conditions:

The Affordable Care Act guarantees that all Americans – regardless of their health status or pre-existing conditions – will finally have access to quality, affordable coverage. People will be able to apply for affordable health insurance coverage choices in Health Insurance Marketplaces when open enrollment begins on October 1 2013.

Young Adult Coverage:

Adults Under 26 May Be Covered By Their Parents.If a plan covers children, parent’s can keep children on their health insurance policy until they turn 26 years old.

100% Preventive Care Coverage:

Preventive care’s are covered at 100% this means consumer may not have to pay a co-payment, co-insurance, or deductible to receive recommended preventive health services, such as screenings, vaccinations, and counseling.

End To Insurance Lifetime & Annual Limits:

The Affordable Care Act prohibits health plans from putting a lifetime dollar limit on most benefits you receive. The law also restricts and phases out the annual dollar limits a health plan can place on most of your benefits — and does away with these limits entirely in 2014.

Arbitrary Withdrawals of Insurance Coverage Not Permitted:

Insurance companies can not arbitrarily end coverage because of mistakes by consumers.

Reviews Premium Increases:

Insurance companies need to justify increases in the premium cost publicly.

Guarantees Right to Appeal Claim Denial:

Consumer has rights to appeal any denial of insurance claim.

Insurance To Spend 80% Premium Collected On Health Care Service:

The law requires insurers selling policies to individuals or small groups to spend at least 80% of premiums on direct medical care and efforts to improve the quality of care. Insurers selling to large groups (usually 50 or more employees) must spend 85% of premiums on care and quality improvement.

Establish Health Insurance Exchanges Or Marketplace:

Starting 2014, each US state will have a health insurance exchange running where consumer and small business can easily compare and buy insurance plans. If eligible they can apply can get insurance premium credits.

Now you know what is Obama Care, next go here to find out how do i get obamacare, which explains eligibility and how to apply for it.