What New York Residents Need to Know About Obama Care (the Affordable Care Act or ACA) Coverage for 2018

What You Need to Know About Obamacare

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Obamacare > What You Need to Know About Obamacare

What You Need to Know About Obamacare

A little confused about what's going on with the Affordable Care Act, a.k.a. Obamacare? Here are answers to common questions, including:

  • whether or not you must buy health insurance
  • upcoming open enrollment dates for your state
  • what available plans cover
  • how much you'll need to pay for coverage, and
  • how to sign up.

Here are some basics to keep in mind:

Obamacare has not been repealed. You must be insured unless you're exempt from the law. Unless you're exempt from the Affordable Care Act (Obamacare), you must be enrolled in a health insurance plan. If you aren't covered or exempt, you'll owe a tax penalty when you file your federal income tax return.

You can shop for a plan online. You can use an online health insurance exchange to choose a plan, apply for cost-saving subsidies, and get other help.

You may qualify for a subsidy. Many people are eligible for tax credits that will lower monthly premiums. If your income is very low, you may qualify for Medicaid and get free or very low-cost coverage.