What Happens If You Can’t Afford Healthcare In America?

What Happens If You Can’t Afford Healthcare In America?

What Happens If You Can’t Afford Healthcare In America?

The high expense of healthcare in the US can be an obstacle for many people. What occurs when a person cannot afford healthcare due to rising medical costs and insurance premiums? Millions of Americans adore and oppose health insurance. It’s necessary to have as many Americans cannot afford healthcare without it because it can be costly. The expense of healthcare in the United States is very high, even with health insurance. The out-of-pocket expenses might easily grow out of control.

The absence of coverage for essential medical treatment can have serious implications for one’s physical and mental well-being as well as one’s capacity to maintain financial safety and a good quality of life. Let’s look into the difficulties that people have while trying to afford medical treatment and options that are accessible to them to get the care they require.

What Happens If You Can’t Afford Healthcare In America?

You will ultimately lose coverage if you stop paying your health insurance premiums every month. Whether you qualify for tax credits on your premiums, which are intended to lower this expense, will determine how long it takes for that to occur.

You have 90 days to make up lost time if you were eligible for assistance with your premiums, which an estimated 87% of Americans were for 2015. This is according to HHS. On the day of your due date, the clock starts to run. Your policy will be canceled if you are unable to make the payments that are due during that period.

Be Aware of the ACA Penalty

You might not have to budget for a monthly fee if you don’t have insurance, but going without coverage could end up costing you a lot of money.

Unless you qualify for an exemption, you must pay the shared responsibility payment (also known as the health care law penalty fee) if you are uninsured for three or more months of the year. That charge is typically 2 percent of your total family’s income, or $325 for each adult and $162.50 for each child, whichever is higher. This penalty is what you’ll have to pay when you file your 2015 taxes.

Actions You Can Take

Make a help request. You can qualify for Medicaid or your kids might qualify for the federal Children’s Health Insurance Program if you are unable to pay because of a substantial decrease in your income or a change in your family’s circumstances. You can find out if you qualify through your state return, the federal industry, or the local Medicaid office.

What Can You Do If You Can’t Afford Healthcare?

Medicaid: Millions of Americans with low incomes or disabilities can receive coverage through Medicaid. Numerous states have extended Medicaid to include everyone below a particular income threshold. Study up on Medicaid and the application process.

Children’s Health Insurance Program (CHIP): Families with incomes too high for Medicaid but too low to afford private health insurance can enroll their children and, in some states, pregnant women in CHIP. Study up on CHIP.

A Marketplace insurance plan: Depending on your household size and income, you might be eligible for premium tax credits in addition to savings on copayments, deductibles, and other out-of-pocket expenses. Certain low-income individuals can pay extremely little in premiums. Find out how to get an insurance plan on the Marketplace for less money.

You will receive an eligibility determination once your Marketplace application is complete, which will indicate the type of coverage you and other members of your family are eligible for. Please ask any queries in the comments section below.


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