When it comes to the new Affordable Care Act, many people seem confused with the requirements and the benefits that will be available to them. We take a look at some of the myths that surround this new act and discuss some of its benefits and rules.
Myth: Abortions will be Funded
This is completely untrue; no tax dollars will be used for the funding of abortions. The only way in which money can be spent on abortions is in cases of incest, for victims of rape, or when the mother’s life is in danger. People may not use their tax credits or any refunds to fund an abortion. In the event that someone want a plan that covers abortions, they will need to cover it with their own money. It is required for all plans to pay for contraceptives that are approved by the FDA. This includes implanted devices, birth control medication and emergency contraception.
Myth: Penalties are Cheaper than Insurance Itself
Not true. Penalties will get more and more expensive as time goes by, so it is definitely not more affordable to rather pay the penalties. If you don’t have healthcare insurance in 2014 the penalty will be 1% of your annual income, or $95, whichever of these amounts are greater. A family will pay a maximum penalty of $285 in 2014, which will significantly increase in coming years. For example, that same family will pay $2,085 in penalties in 2016 and individuals will pay $695.
In addition to these penalties, families without health insurance will be liable for 100% of their medical expenses and health treatments. You will not be protected against bankruptcy if you don’t have health insurance if you have a medical emergency. This busts the myth that penalties will be cheaper.
Myth: Coverage can be Denied
This is untrue. As of 2014, individuals cannot be denied medical healthcare for having a pre-existing condition. Even if you were previously denied you may still apply for insurance under the new Act. You may not be charged more or denied coverage if you have a pre-existing condition. Women can also not be charged more, just because they are female. This Act aims to offer equal care to everyone.
It’s always a good idea to familiarize yourself with the facts of the Act so that you know what to expect, and what the benefits will be for you and your family. Understand what is true and what not, so thatyou can choose the best type of coverage for you and your family.
HealthLine.com is a popular resource that offers expert health advice from qualified professionals and experienced contributors. Find out more about the new Act from Healthline.com.