It’s critical to understand the differences between Obamacare and what has now become known as Trumpcare when you choose your health insurance for 2019. Although there is a misconception that the Affordable Care Act is no more, the reality is that very little has changed regarding your insurance options and the amount of insurance that you will need to buy to remain compliant with insurance rules.
If you are purchasing insurance for 2019, then the following information will help you to understand your options.
The Affordable Care Act is Still in Place, Despite the Name Change
Obamacare entered the public consciousness when the Affordable Care Act was first introduced. With President Trump’s election into office, there were several changes proposed that would make the Affordable Care Act more flexible for Americans.
The Affordable Care Act, as the name indicates, was designed to provide more affordable insurance for Americans. Those who were without coverage found that they were able to get better options when the Act was first passed into law. Because much of it remains intact, it is still possible to find affordable plans. The only key difference is that some of the changes could now make premiums higher for some individuals and families. While this may seem concerning, the reality is that the current structure is likely to work out better for your needs.
While some premiums will increase, there will be lower premiums for alternative healthcare plans. While the Obamacare version of the Affordable Care Act was quite stringent and only beneficial to a relatively small group of the population, the Trumpcare version of the act will mean that individuals can now try different insurance packages offered by private insurers.
The result is more choice, and potentially lower premiums when you want to purchase limited coverage that suits your needs. If you found that the rules under Obamacare were not suited to you or your family, then policies for 2019 will likely be much more appealing to you.
Do Private Insurers Still have to Follow Insurance Rules Set by Congress?
The changes with Trumpcare do not mean that insurers have complete freedom regarding the type of health insurance they offer. There are still some specific rules that all insurance companies must adhere to. As has been mentioned, and this is critically important; the Affordable Care Act remains in effect. There are subsidies for individuals and families on mid-income ranges, and states can still use elements of Medicaid to provide coverage for those in the lowest income ranges.
The key takeaway is that rather than forcing private citizens to buy insurance under Obamacare, there will now be more flexibility to look outside of the Affordable Care Act insurance market.
Healthy competition in the insurance market could lead to better overall health care plans that are more suited to unique scenarios. No family or individual has the same medical or insurance need, and Obamacare grossly overlooked this in many ways.
If you were concerned that president Trump’s efforts to change insurance rules would work out negatively for you, then you can set aside any fear. Any new rules implemented in the coming years are highly likely to benefit the population. Major changes will need to be passed into law by elected representatives, and there will also be a period of public discussion.
In short, if you are purchasing insurance for 2019, then the change from Obamacare to Trumpcare should not represent any real negative impact.
Subsidies Have Not Been Eliminated
Obamacare aimed to make subsidies available for certain groups of the population. These subsidies were never fully implemented by lawmakers and existed in a kind of legal grey area. Despite some of the news coverage, there are still heavy subsidies available in many different scenarios. Insurers also have incentives to provide discounts to qualified customers.
Overall, you are now more likely to be able to get the insurance that you need at a price that works within your budget.
The Key Facts When You Purchase Insurance for 2019
By now you have likely set aside most of your concerns regarding the change from Obamacare to Trumpcare, and any differences that might exist in the Affordable Care Act. As a quick point of reference, the following are the key facts that you need to be aware of as you are purchasing insurance for 2019.
There’s Still a Deadline for Purchasing Your Insurance – As always, there is still a deadline for signing up to your insurance. The difference is that the deadline has now changed from November 1st, to December 15th. This will give you more time to plan your insurance this year and compare all the different options that are available.
The Government Will Still Help – It is still possible to get assistance from the government when signing up for insurance through official channels. Nothing has changed from the rules that existed under Obamacare.
States Have More Freedom Over Insurance Rules – Outside of the private insurance marketplace, both Federal and State marketplaces will still exist. Some states will follow the Federal system, while others have the power to create their own. This will depend entirely on where you live.
You Can Still Enroll Through Healthcare.gov – If you won’t be purchasing on the private market then you can still enroll for health insurance through the official government site.
Private Market is Still Ideal for Most People
The differences between Obamacare and Trumpcare insurance have been largely overexaggerated. Although the President has proposed sweeping changes to insurance laws, there is yet to be any major laws passed in Washington. With the Affordable Care Act in place, those who need to can still purchase affordable subsidized insurance.
If you can afford private insurance and want the benefits of more flexibility, a higher level of coverage, and more freedom to customize your insurance package, then this is highly recommended. With Mutual Health Partners you can get expert advice and access to the most competitive health insurance plans from individual providers and networks. Talk to us today to start planning your 2019 insurance and have complete peace of mind knowing that you are prepared for the unexpected.