Plan Tiers Under Obamacare
Obamacare plans are divided into four metal tiers;
Choose the right plan tier based on your household income and healthcare needs.
Bronze
Lowest monthly premiums, but highest out-of-pocket costs.
Sliver
Moderate premiums and out-of-pocket costs; suitable for most people.
Gold
Higher premiums with lower out-of-pocket expenses.
Platinum
Highest premiums but the lowest out-of-pocket costs.
Obamacare
“Obamacare” is the commonly used name for the Patient Protection and Affordable Care Act (ACA). This legislation was signed into law in 2010 by then-President Barack Obama. The primary goals of the ACA are to expand health insurance coverage, reduce medical costs, and improve the quality of healthcare services.
How to Apply for
Obamacare
You can apply for Obamacare through the federal or your state’s health insurance marketplace website. The open enrollment period typically occurs in the fall (for example, the 2025 enrollment may begin in November). In certain cases—such as job loss, marriage, or the birth of a child—you may qualify for a Special Enrollment Period.
Eligibility
Obamacare is available to U.S. citizens, lawful permanent residents (green card holders), and certain legally present visa holders.
Key Features of Obamacare
01
Creation of Health Insurance Marketplaces:
The federal and state governments established online marketplaces where individuals and small businesses can purchase commercial health insurance plans that meet government standards.
02
Income-Based Subsidy System:
The government provides premium subsidies based on household income to help low- and middle-income families afford health insurance.
03
Individual Mandate:
The original ACA required most U.S. residents to have health insurance or pay a penalty. However, the federal penalty was eliminated in 2019. Some states still enforce their own mandates.
04
Protection for Pre-Existing Conditions:
Insurance companies are prohibited from denying coverage or charging higher premiums due to pre-existing health conditions.
05
Medicaid Expansion:
The ACA expanded Medicaid eligibility to individuals earning up to 138% of the federal poverty level, though each state may choose whether to adopt the expansion.
06
Extended Dependent Coverage:
Children are allowed to remain on their parents’ health insurance plans until they reach the age of 26.