DOES OBAMACARE ELIMINATE LIFETIME LIMITS?

Obamacare is also known as the “Patient Protection and Affordable Care Act (PPACA)”. It is an insurance plan that provides healthcare coverage to US citizens. Many health insurances may limit the individuals how much they spend on their insurance coverage each year or may set a “lifetime dollar limit”. If any patients spend more than these limits then they need to pay the remaining amounts from their pockets. However, the Obamacare act restricts insurance provider companies from putting such limits on health insurance plans. This way, a healthcare insurance provider can not put limits on how much insurance companies will spend to cover your medical expenses. This new act of Obamacare provides protections, programs, and resources to patients and their family members. The affordable care act can be easily applied to all individual and group coverage plans that are purchased after Sept 2010.

About Obamacare act:

Also known as the patient protection and affordable act, it came into existence on March 23, 2010. Since President Barack Obama signed this law, it is known as Obamacare. The law is framed to ensure more US citizens are covered under health care insurance plans. This law aims to improve the quality of medical services offered to patients, reducing healthcare-related expenses and regulating the medical insurance companies. This law is aimed to improve medical services by offering health care coverage to more individuals and protecting the existing covered patients.

Understanding in detail about the Obamacare act:

This act is framed to lower down the health care costs for lower-income families by covering premium tax credits, and other related costs. ACA act covers all types of health care policies sold on the health insurance marketplace and covers all types of essential health benefits such as Emergency services, Family planning, Hospitalization, Ambulatory patient services, Breastfeeding, Laboratory services, Prescription medications, Mental health disorder, Pregnancy, maternity care, Pediatric services, Rehabilitative and habilitative service. The ACA plan allows young adults to stay on their parent’s health coverage until they become 26 years old. These young adults are those who do not live with their parents, or do not depend financially on their parents, are not in school, or are already married. However, these young adults will lose their coverage when it is their 26th birthday. This comes under a special enrolment period which means they can enrol in a new plan without waiting for open enrollment at the end of the year.

Final words: The ACA has ultimately led the nation towards a quality health delivery system. Also, it has increased the payment rates for the physicians who are covered by Medicaid policies or work in rural areas. In the past, patients have to pay the insurance premiums and with it sometimes they need to pay further expenses out of pocket. This law has attempted to address major flaws in the health system like poor health outcomes, access to care, high health costs, and poor health outcomes.

Millions of Americans have received the benefits of the Obamacare act. Even a large percentage of insured persons are young adults. Now due to the ACA act, health insurance companies have to spend a minimum of 80% of insurance premiums on paying the medical costs. Even the ACA has prevented insurers from paying unreasonable costs. In addition, the Obamacare act has also helped individuals having pre-existing medical issues to be covered under health insurance. In past days, people having pre-existing conditions find it difficult to avail themselves of health insurance almost companies do not cover them by saying that illness or injuries are not covered under their medical plans. But now insurance companies can no longer deny any patient to provide the insurance according to their suitability.