In the world of insurance, several common names are among the most sought-after options. Obamacare is undoubtedly one of the most prominent, but do you know what it is?

Obamacare is the name by which the Affordable Care Act is known, which was signed on March 23, 2010, and promoted by Barack Obama, then president of the United States. In short, it is a healthcare reform, aimed at making health insurance more accessible and affordable for all.

Obamacare has the distinction to guarantee health subsidies to individuals or families. This benefit is based on age, household size, and income. In addition, it covers numerous treatments and health situations that were not previously covered.

At LatinPro, we are aware that understanding this benefit can be complex. Therefore, in this article, we will tell you the most important things you should know about it:

Facts about Obamacare

How does it work?

It is worth noticing that the Affordable Care Act establishes an open enrollment period known as «Obamacare Open Enrollment.» It begins on November 1 and ends on December 15. Only during this time period is it possible to apply for Obamacare unless you qualify for a special enrollment period. 

This option is especially convenient for cases where you do not have health coverage through your employer, Medicare or Medicaid. In these cases, you can get your insurance through the Marketplace. With an Obamacare health plan, the U.S. government helps pay for a large part of your health insurance.

Who is elegible for Obamacare?In essence, to apply and have access to this benefit, all that is required is to have legal status in the United States and comply with certain income requirements taken into account at the time the subsidy is granted.