Yes, the Affordable Care Act Still Exists, and You Can Still Buy Insurance

In the wake of the news that President Trump has slashed the advertising budget of the Affordable Care Act by 90%, many people have expressed fear that the program itself has been cut. We want to reassure you all that the ACA, commonly called “Obamacare,” is still alive and well – and you can still use the marketplace at Healthcare.gov to sign up for an insurance plan. We want to walk you through a bit of that process now, since the open enrollment dates are approaching.

Open enrollment? What’s that?

Every insurance plan offers “open enrollment” dates: times when you can purchase insurance for yourself and your family. If you’ve had insurance through an employer in your past, you might have noticed that you are asked to “re-enroll,” or to review and submit your policy documents, every year around the same time – even if your plan hasn’t changed, and even when you don’t have any changes to make, either. This time period was your insurance company’s open enrollment period.

Open enrollment through the marketplace runs from November 1, 2017 through December 15, 2018.

There are a couple of exceptions to this timeframe, by the way. For example, if you lose your job on September 15, 2017, and lose your benefits along with it, you may be eligible for early enrollment. You’ll have to fill out a short questionnaire on the Healthcare.gov website. If you are approved for early enrollment, you can sign up with a day or two.

You can also sign up for insurance at any time through the exchange if you are eligible for Medicaid or CHIP.

What are the “marketplace” and “exchange” you keep referring to?

A lot of people think that Healthcare.gov is an insurance plan. It’s not. It’s a place to purchase insurance plans. “Marketplace” and “exchange” are the words the laws, and the site itself, use to describe the place where you buy the plan. The plans you are offered vary, based on the insurance companies that are willing to sell policies through the marketplace.

So, what funding did President Trump cut, then?

President Trump cut the advertising budget for the ACA this year. Originally, the budget was $100 million. Now, its budget will be $10 million for the entire country.

This budget cut matters because the open enrollment period starts November 1, 2017, and people may not realize that the ACA is still the law, and that insurance plans will still be available through the market. If people think they cannot buy insurance, the program will suffer, because insurers won’t want to participate. Fewer insurers means fewer options for Americans who need health insurance, and higher premiums for those who already have plans. We’re seeing this first-hand here in Delaware: fewer people signed up for the program, so Aetna stopped offering plans through the exchange.

Can’t I still buy an insurance plan through a company without going through Healthcare.gov?

Yes, you can – but it will be much more expensive. When the ACA went into effect, it included subsidies for the insurance companies: incentives, if you will, to keep them involved. The federal government pays for these subsidies, so the insurance companies don’t lose money, and therefore aren’t tempted to leave the exchange.

In short, if you buy health insurance from an insurer without going through Healthcare.gov, it will be more expensive.

Spread the word: open enrollment starts November 1, 2017

If you still don’t have health insurance, it’s not too late to get coverage for yourself and your family for 2018. Go to Healthcare.gov between November 1, 2017 and December 15, 2017 to find the plan that’s best for you. And get the word out to your friends and family that insurance plans are still available. The more people we tell, the better we protect the program that helps to protect us.

Silverman, McDonald & Friedman is a personal injury law firm serving clients throughout Delaware. To learn more about our services, please call 302-888-2900, or fill out our contact form. We maintain offices in Newark, Wilmington and Seaford.