Your ACA Health Insurance Enrollment Checklist (2024)

FAQs

What is one requirement of the Affordable Care Act answers? ›

Answer: Under the ACA, consumers who have pre-existing conditions can't be sold health coverage that excludes their pre-existing conditions. In addition, the law requires most health plans to cover certain preventive health services without cost sharing to consumers— including annual physicals.

Income can be verified by providing various types of documents such as the acceptable list below. One of the most common proofs is a pay stub. If you submit a pay stub, make sure that it is current and within the last 45 days; otherwise, Covered California may not accept it.

Your Marketplace application will ask you for information about any job-based plan you or anyone in your household is eligible for. It will ask you for employer contact information for each person in your household who has a job.

Determining employee eligibility

For purposes of the ACA, a full-time employee is anyone who on average works 30 hours or more per week, or 130 or more hours per month. Employers need to continually track which members of their workforce fulfill this criteria and whether they accept or decline the health coverage.

Employers must offer health insurance that is affordable and provides minimum value to 95% of their full-time employees and their children up to the end of the month in which they turn age 26, or be subject to penalties. This is known as the employer mandate.

The income range is $30,000 to $120,000 in 2024 for a family of four. (Income limits may be higher in Alaska and Hawaii because the federal poverty level is higher in those states.) The American Rescue Plan Act of 2021 also extended subsidy eligibility to some people earning more than 400% of the federal poverty level.

Include: Wages, salaries, tips, etc. Taxable interest. Taxable amount of pension, annuity or IRA distributions and Social Security benefits.

If your income is more than what you told us on your application, you may have to repay some or all of the advanced premium tax credits that you got. There are limits to the amount you may need to repay, depending on your income and if you file taxes as “Single” or another filing status.

When you apply for health coverage or an exemption, your information may be used to: Help you with the application process. Verify information like your identity and any income history you provide. Give you accurate information about as many different cost-saving programs as possible.

Is HealthCare.gov and Obamacare the same thing? ›

HealthCare.gov is a health insurance exchange website operated by the United States federal government under the provisions of the Affordable Care Act or ACA, commonly referred to as "Obamacare", which currently serves the residents of the U.S. states which have opted not to create their own state exchanges.

Shorthand for the “Health Insurance Marketplace ^®,” a shopping and enrollment service for medical insurance created by the Affordable Care Act in 2010. In most states, the federal government runs the Marketplace (sometimes known as the "exchange") for individuals and families.

Under the Affordable Care Act, major medical health insurance plans and qualified health plans (QHPs) must meet Minimum Essential Coverage Standards, which generally means they must: Have an “Actuarial Value” of 60% or more. Cover 10 Essential Health Benefits.

To comply with the ACA and reduce penalty risk, rehires who were away from the organization for 13 weeks or less (26 weeks or less for educational organizations) in most cases should not be placed in an employer's typical waiting period prior to being offered health insurance.

The 9.5% threshold for health insurance costs

This means that if you make $40K annually, the bill subsidizes health insurance premiums beyond just short of $4K.

One provision contained in the law is known as the “individual mandate” which requires that all Americans (regardless of age) be covered by health insurance (through a group or individual plan) or pay an annual financial penalty assessed by the Internal Revenue Service, unless waived under certain limited circ*mstances ...

- The coverage must be affordable and provide minimum value. Insurers must provide health insurance to any person regardless of medical history or current health.

The Affordable Care Act (ACA) requires applicable large employers (ALEs) to offer affordable, minimum value health coverage to their full-time employees or pay a penalty. This employer mandate provision is also known as the “employer shared responsibility” or “pay or play” rules.

Answer and Explanation:

The state shall ensure that necessary health benefits are provided. Diagnosis and tests were also included in the law.