Understanding HealthCare Reform
The Affordable Care Act (ACA) is a significant piece of legislation that will impact America over the next decade. Its numerous provisions may affect your healthcare planning.
To be prepared, you’ll want to learn about coverage options, tax implications, and plan requirements so you can make informed decisions.
While the Affordable Care Act (ACA) healthcare reform is a federal law, individual states have decision-making power over certain aspects of the legislation. If you don’t receive health insurance from your employer and need to buy it, your state of residence may:
- Establish its own health insurance marketplace
- Work with the federal government to co-run the state marketplace, OR
- Have the federal government operate the insurance marketplace for them
To find out the particulars in your state, contact your State Department of Insurance or review the Kaiser Foundation State Profiles Summary here.
Additional information on State Health Insurance Marketplaces, Medicaid and health reform, Medicare and health reform, federal grants and loans, health insurance market reforms, and more can be found here.
HEALTHCARE REFORM AND LONG TERM CARE INSURANCE
While healthcare reform is making changes to health insurance, long term care services are not covered under regular health insurance.
If you need assistance with activities of daily living (ADL’s) due to an illness, injury, or cognitive impairment, long term care insurance covers the cost for personal assistance in your home or at a facility.