To know what does the affordable care act do for college students..read on this article…!
Introduction
As a college students, you will be wondering, what the new affordable health care act would do for you.Owning health insurance has become paramount in a world filled with uncertainties and as a college student, health and wellness remain critical ingredients for achieving academic success.
By utilizing preventive healthcare measures, insured students can remain healthier while concentrating fully on their studies.
The Affordable Care Act also referred to as Obamacare was signed into law in 2010. The health policy requires individuals to own health insurance.
Although it has been argued by some that requiring everyone to mandatory own health insurance can be intrusive, supporters of the act believe that failure to own health insurance passes an individual’s health cost to everyone else.
By lowering the cost of healthcare for those who can’t afford it, and expanding both private and public insurance, the policy is geared toward making health insurance more accessible and affordable.
While extending health insurance coverage to about 32 million uninsured Americans, the health insurance policy requires most people, including college students to obtain insurance or pay a tax penalty.
So as a college student here are some of the things you need to know about this policy.
- The policy is aimed at protecting college students from unforeseen health circumstances.
- Under the policy young adults can use their parent’s health insurance plans.
- Students could save more as the act promises to subsidize the cost of prescription drugs.
The Affordable Care Act aims to Protecting College Students.
Historically, when it comes to health care, students and young people have been neglected in terms of health care insurance coverage.
The affordable care act introduced several provisions that changed the coverage landscape for students.
While placing a ban on the discrimination of patients due to pre-existing conditions, the act also eliminated any form of gender discrimination.
Under this piece of legislation, individual and small group insurance packages will cover certain benefits like mental health services and even preventive care.
In a bid to protect college students and other indigent members of society, the act also adds financial assistance for low and moderate-income individual families to enable them to purchase healthcare plans.
Young People can remain on their Parent’s Health Insurance Package.
Before now, there has been a general misconception that young dependent adults don’t need health insurance coverage as most of them are still young and healthy, but a closer look reveals the truth, which is that everyone needs health insurance in the case of a health emergency.
But with the emergence of the affordable care act, young adults can use their parent’s health insurance until they become of age.
Regardless of whether these young adults are in school or not, they can still use their parents’ health insurance packages at least until after their 26th birthday.
Under the affordable health care act, young adults under the age of nineteen must be offered dental, pediatric, and vision on all marketplace and employer insurance packages.
For young single adults who are eligible for buying health insurance on the marketplace, cost assistance of $50 or less could be provided through the individual’s state health insurance marketplace.
Prescription Drugs Cost less while Students can Save More
With the number of prescription and generic drugs covered by the Affordable Care Act growing every year, people who are unable to afford their medications can now do so as the act has promised to subsidize the cost of prescription drugs.
As contained in a press release issued by Medicare and Medicaid Services, from 2017 beneficiaries of Medicare have saved over 26.8 billion on prescription drugs under Obamacare.
Also, the health policy spells out provisions that will help college students and Americans at large lower their health costs by imbibing healthy habits into their lifestyles.
For example, one of the provisions is hinged on helping Americans get better nutritional information about their restaurant options.
Affordability of Health Insurance and Where one Could Enroll for one.
College students with an income level that is below a certain level, who can’t afford insurance could qualify for Medicaid.
And In the case where you are uninsured and don’t get an exemption, you could be fined.
To get more information on insurance plans in your state, check out HealthCare.gov.
Ultimately, the Affordable Care Act will bestow upon students some health benefits which include, increased health coverage, improved access to health care, more financial security, and possibilities for economic mobility.
Frequently Asked Questions
What will happen if I don’t have insurance and don’t want to buy a policy?
In the case where you don’t have health insurance, and you refuse to subscribe, you can be penalized for not purchasing health insurance.
Can my children stay on my health plan?
Yes, your offspring are allowed to remain on your health plan till they turn 26 years.
Starting from their 26th birthday, they can no longer be covered under the family plan.
Does the Affordable Care Act Cover Patients with pre-existing conditions?
Under the Affordable Care Act, people cannot be turned down for insurance because they have a pre-existing condition.
The affordable care act covers people with pre-existing health conditions.
The act is aimed at reducing barriers to equitable healthcare for every individual including those with a pre-existing ailment.
Will the Affordable Care Act stop my Medicare benefits?
No, the affordable care act doesn’t cut any benefits required under the Medicare scheme. The health reform act adds benefits to the Medicare program, things like annual wellness exams are introduced while costs for preventive care services and screenings were eliminated.
Does the Affordable Care Act shoot up National Debt?
No, the act doesn’t in any way increase the national debt profile as it has been estimated by the nonpartisan Congressional Budget Office that the legislation could reduce the federal deficit by $124 billion in the first decade with an estimated $1 trillion in the second decade.
