Obamacare Info (Current As Of 9/23/3013)

The following information are copy/paste highlights from various pages which can be found @ Obama Care Facts.com. Much more information is available online. I urge people to visit that site for complete and up to date information. What I presented here are only a few of the more significant parts I thought might prove useful to get someone started.
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The Health Insurance Marketplace Opens Oct 1st, 2013 and closes March 31st, 2014. Insurance purchased on the exchange doesn't kick in until 2014.

Americans earning below 400% of the Federal Poverty Level may be eligible for cost assistance.

If you qualify for Medicaid, have insurance through work, are a large firm or are illegal or incarcerated you cannot use the exchanges to purchase health insurance (other limitations may apply).

Regardless of what tier of plan you purchase all plans must cover:
1. Ambulatory patient services
2. Emergency services
3. Hospitalization
4. Maternity and newborn care
5. Mental health and substance use disorder services, including behavioral health treatment
6. Prescription drugs
7. Rehabilitative and rehabilitative services and devices
8. Laboratory services
9. Preventive and wellness services and chronic disease management
10. Pediatric services, including oral and vision care



Penalties
Most Americans must obtain qualifying health coverage by January 1st, 2014, get an exemption or pay a fee for every month they are without "minimum essential coverage". The fee is paid on your federal income tax return. This fee is commonly referred to as an Individual Mandate and is part of the shared responsibility provision.

The penalty will be applied to your taxable income and will be 1% to 2.5% of your taxable income or a set amount, whichever is greater. Your tax penalty for not having insurance is paid on your taxes at the end of the year.2014 = $95 per person per year or 1% of your Income
2015 = $325 per person per year or 2% of your Income
2016 = $695 per person per year or 2.5% of your Income
2017 = Tax Penalty will increase by the rate of inflation going forward, or 2.5% of your IncomeThe total penalty for the taxable year cannot exceed the national average of the annual premiums of a bronze-level health insurance plan offered through the health insurance marketplaces.

Those who have insurance through work obviously have nothing to worry about when it comes to the tax penalty. Those on Medicare or Medicaid will also be exempt. Aside from this Americans below the 133% FPL threshold will be exempt as well. Overall around 26 million Americans will be exempt from the tax penalty.

Several groups are exempt from the requirement to obtain coverage or pay the penalty, including:
• People who would have to pay more than 8 percent of their income for health insurance
• People with incomes below the threshold required for filing taxes (in 2012, $9,750 for a single person and $27,100 for a married couple with two children)
• People who qualify for religious exemptions
• Undocumented immigrants
• People who are incarcerated
• Members of Native American tribes


Subsidies
Families who fall between 139% and 400% FPL will be eligible, although those making more will get considerably less cost assistance. Subsidies are given as refundable tax credits.



APPLY HERE
Specific plans and prices will be available on October 1, 2013,
when Marketplace open enrollment begins


Premiums will vary from state to state..
The Kaiser Family Foundation Report (Sept. 2013)--
"An Early Look at Premiums and Insurer Participation in Health Insurance Marketplaces, 2014"