Is Obamacare Affordable For Everyone?

Is Obamacare Affordable For Everyone?

Is Obamacare Affordable For Everyone? Affordable Care Act

With the passage of the Affordable Care Act (ACA) in 2010, the US made a major move in the direction of changing its healthcare system. The primary objective was to increase access to and affordability of health insurance for the millions of Americans without it. After over ten years, with the system becoming a vital aspect of American healthcare, a key issue is raised: Is Obamacare affordable for all?

Obamacare’s affordability, however, varies greatly depending on several criteria and is not a universal option. Purchasing health insurance can be expensive, particularly if you don’t have access to it via your employment.

Who is Covered under Obamacare?

Obamacare aims to reduce the cost of healthcare for all individuals, irrespective of their financial situation. Obamacare allows anybody, regardless of financial level, to apply for health coverage. You might be eligible for a premium tax credit or other special subsidies that will lower the cost of health insurance if your family income is between 100% and 400% of the federal poverty level (FPL).

Who is not qualified to receive Obamacare?

Under Obamacare, the majority of Americans are qualified for health insurance. There are certain exceptions, though.

Obamacare is not available to you if:

  •  You do not live in the U.S.
  •  You are incarcerated.
  •  You are not a U.S. citizen, U.S. national, or lawfully present in the U.S.
  •  You are covered by Medicare.

What is the monthly cost of Obamacare?

The Inflation Reduction Act of 2022 and the American Rescue Plan Act of 2021 will make the Affordable Care Act more affordable than ever in the 2023 coverage year. Most consumers (80%) will be able to select a plan for $10 a month or less thanks to new financial support with premiums. Your household size, where you reside, your income, the Obamacare plan you select, and the amount of your premium tax credit will all affect how much your premium, or monthly cost, is.

Affordable coverage

In 2024, if your monthly payment for the employer’s least expensive plan is less than 8.39% of your family income, your job-based health plan qualifies as “affordable”.

  • Household’s monthly income = $4,083 (about $49,000 per year).
  • 8.39% of the household’s monthly household income = $343

For the employee:

Monthly premium the employee would have to pay for the lowest-priced plan that covers just the employee = $300

For other household members:

Monthly premium the employee would have to pay for the lowest-priced plan that covers other members of their household = $450

Requirements To Qualify For Obamacare

You qualify for Obamacare if you:

  • Live in the U.S.
  •  Are you a U.S. citizen, or U.S. national, or are lawfully present in the U.S.?
  •  Are not incarcerated
  •  Are not covered by Medicare

How to apply to Obamacare

Obamacare enrollment can be completed in a variety of ways, including through an ACA navigator, an agent, or a broker. One may:

  • Enroll online at
  • To obtain in-person support in your region with a navigator, agent, or broker, use the “find local help” option. All are free of charge and have received training to guide you through the marketplace procedure.
  • Apply via a certified enrollment partner’s website, like the website of a private health insurance provider.
  • Call the marketplace call center at 800-318-2596 to enroll over the phone. This line is open seven days a week, twenty-four hours a day, barring holidays.
  • Complete and mail an application.

Hope this was useful. Kindly comment if you have any questions regarding this post.


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