Wednesday, December 7, 2022

What Happens if You Can’t Afford Healthcare in America?

It’s no secret that healthcare costs continue to rise. That means many people have to make an executive decision of whether to get health insurance or go without. While there are still Americans who are uninsured or underinsured, the Affordable Care Act (ACA) laws in place have helped individuals and families choose a healthcare plan subsidized by the government. The downside to that is that there are many people who do not qualify for the subsidies, and those who do may choose not to participate.

Once the ACA went into effect, many people believed that healthcare professionals had to provide medical assistance to anyone even if they don’t have insurance. That is not true. The only situation where healthcare practitioners are required to provide medical services is in emergency departments.

Getting prepared for care

6 in 10 Americans are diagnosed with high cholesterol, high blood pressure, or obesity according to The National Center for Chronic Disease Prevention and Health. Additionally, there are many uninsured people suffering from chronic illnesses. Americans used to be taxed for not having health insurance, but that is no longer the case. While access is available, there are still rising costs now and on the horizon for individual and employer-based programs.

What does that mean? It means that people recognized the rising costs and are choosing to opt-out, even if they unknowingly qualify for health insurance. In fact, the ACA has provisions that require many preventative services to be free of cost with no copay. Individuals that need these preventative care services are doing themselves a disservice because they won’t get healthcare coverage.

Moving past the stigma of medical debt

People who don’t have health insurance are one situation away from being in a situation where they have to file for bankruptcy because they didn’t have the insurance to cover an illness or sickness. In fact, most personal bankruptcies today stem from medical bills that people are unable to pay and have been the top cause of bankruptcy with the number of people in collections for medical bills continuing to rise.

While tax penalties were one of the big factors surrounding people not seeking health insurance, there are so many ways to get health insurance at an affordable cost with the government’s help. With the Tax Cuts and Job Act, it afforded Americans an opportunity to either get low-cost options for health insurance or not have insurance at all.

Joe Biden’s Build Back Better Act helps improve affordable health care, expanding the subsidies available to Americans who need health care coverage. One of the advantages of this program ensures that no one would spend more than 8.5% of their income on insurance premiums which were previously capped at 400% of the federal poverty level. Additionally, the premium subsidies for people with incomes between 100% and 400% of the federal poverty level will increase in those subsidies. Basic silver coverage will also be available for people with incomes between 100% and 150% of the poverty level.

It’s no secret that healthcare is expensive, but there are mechanisms in place that now help Americans get basic coverage, at a minimum. Working with a team that can find the best policy to accommodate your needs without worry helps more people acquire health care coverage. Enrolling in a plan is easy and stress-free. With the Build Back Better Act signed into law, Americans can now breathe a little easier knowing there are options in place where almost everyone can get health insurance for themselves and their families.

Affording health care that’s unaffordable

For many people who are still suffering from unemployment or a loss of wages, health care insurance may be one of the last things on the list. It’s important to understand how crucial having health insurance is before deciding not to get it. There are now options in place that levels the playing field to make insurance more accessible which can improve your financial situation if faced with a medical procedure that would have previously been out-of-pocket.

Knowing the limitations many face as Americans who want to have health insurance but were previously in a position where they couldn’t get it has changed the scope and perception of many Americans who may have considered the subsidies a temporary fix that would be taken away as soon as they started to use the coverage.

It’s time to speak to knowledgeable health care representatives who understand the intricacies of the new law and can provide the best advice and coverage plans that will help you start preventative care and make sure you’re in the best health possible. As more people begin to realize they now qualify for an affordable policy, the thought of not being able to afford health care insurance may be an afterthought. As the word continues to circulate about the health care selections now available with the government subsidies that are now slated to continue through 2025, health care insurance is no longer a dream that’s not within reach, but one that individuals need to recognize and act on.

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