The 2010 Patient Protection and Affordable Care Act (PPACA), also called simply the Affordable Care Act (ACA) or Obamacare, has radically- and probably irrevocably-changed the structure and financial performance of the private (non-government) health insurance Industry. Since it obligates you to obtain and maintain personal health insurance coverage into the foreseeable future, it is critical that you understand the essential elements of this landmark legislation, Which of the following statements regarding the Affordable Care Act (ACA) are true? Check all that apply. You can have a coverage gap of up to three months without incurring the lack-of-coverage penalty. The act created a single-payer health care system in which the government-rather than a system of private insurers-pays for all health care costs. Under ACA, the price of a health care policy is to be determined by supply, demand, geographic location, and competition A stated goal of the ACA is to provide a quality health care plan to all U.S. citizens and legal residents. The individual mandate requires all citizens and legal residents to purchase health insurance. Which of the following are protections or benefits provided to you by the ACA? Check all that apply. If you are older, insurers are only allowed to charge premiums that are three times the amount charged for otherwise identical younger policyholders You are eligible for free preventive screenings and tests, including immunizations, cancer and domestic violence screenings, and contraception You can be denied coverage due to pre-existing conditions Your insurance policy can be cancelled if you engage in a fraudulent transaction At the insurer's discretion, your policy may contain a maximum annual or lifetime limit on benefits. Which of the following are protections or benefits provided to you by the ACA? Check all that apply. If you are older insurers are only allowed to charge premiums that are three times the amount charged for otherwise identical younger policyholders You are eligible for free preventive screenings and tests, including immunizations, cancer and domestic violence screenings, and contraception You can be denied coverage due to pre-existing conditions Your insurance policy can be cancelled if you engage in a fraudulent transaction At the insurer's discretion, your policy may contain a maximum annual or lifetime limit on benefits. One important objective of the ACA was to replace Insurance policies that legislators felt were ald, substandard, or unfair to consumers. To do this, the ACA requires that all health care policies provide ten comprehensive essential benefits to be judged for consumers and policyholders. If a policy fads to provide all ten benefits , it may not be sold in the health care exchanges. Which of the following categories of services or benefits must be provided in quality health care policies? Required for a policy to be Adequate Not required for a policy to be Adequate Category or Service Prescription drugs Health club memberships Pediatric services Hospitalization
