The Affordable Care Act (ACA), passed in 2010, has made comprehensive health care coverage available to millions of Americans who otherwise would not have been able to afford it. The ACA established a federal marketplace through which people who live in a state that chose not to set up a …
Businesses Get Second Extension to Comply with Healthcare Mandate
For the second time in the last year, the Obama Administration has given certain businesses an extension to comply with the Affordable Care Act’s (ACA) healthcare mandate. Originally, employers would have been required to provide insurance by January 1, 2014, but were given a one-year extension to January 2015. Now, …
Do I Qualify for an Obamacare Cost-Sharing Subsidy if I’m Not Working?
The tax breaks and subsidies available under the Affordable Care Act (ACA) are based on income, not employment status. If you have one or more sources of income (rental property income, unemployment compensation, etc.) you may or may not qualify for a subsidy or tax break, even if you’re not …
What Is the Affordable Care Act “Family Glitch?”
Congress has deemed health insurance affordable under the Affordable Care Act (ACA) if an employee’s contribution toward the cost of coverage doesn’t exceed 9.5% of his or her income. The majority of people who receive coverage through work do not spend more than 9.5% of their income on insurance, with …
How Will the Affordable Care Act Affect Me if I’m Self-Employed?
If you’re one of the many self-employed low- or middle-income earners in this country, you’re likely to have found health insurance prohibitively expensive at some point in the past. You may still be without coverage because it’s simply too costly. Today, the Affordable Care Act (frequently referred to as “Obamacare”) …
Everyone Will Be Able to Afford Insurance under the Affordable Care Act
The Affordable Care Act provides insurance coverage for everyone, regardless of age, pre-existing medical conditions, or if you have been denied coverage in the past. One concern many people have is how much it is going to cost them to have one of the mandatory insurance plans. Under the new …