Yesterday I mentioned “creditable” health insurance. Today’s important thing to know is that there
is no such thing as “Obamacare.” The
Affordable Care Act is a law that requires health insurance companies to comply
with certain requirements in order to offer to you creditable health
insurance. These policies are offered
through private insurance companies not the federal government. The Affordable Care Act is a law not a
program like Medicare. New ACA compliant
or creditable policies will offer a standardized set of benefits. In order to make these benefit rich policies
affordable, low income individuals and families will receive a tax subsidy from
the federal government. Tomorrow we will
look at what the standardized benefits are.
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