The Affordable Care Act (ACA) includes several regulations and consumer rights in an effort to carry out the goals described in the previous lesson. The current lesson highlights some of the most well-known regulations and rights, including:
- Covering pre-existing conditions
- Including coverage for the essential health benefits
- Offering more coverage options for young adults
- Ending amount limits for how much an insurance company will pay per year or for the life of the policy
- Providing free preventive care
- Mandating that people who can afford it are required to purchase health insurance, or pay a fine
These regulations apply to all plans purchased through the Marketplace, and most other employer and individually purchased plans. Some of the rules are different for employers of certain sizes, and for short-term insurance plans. Also, grandfathered plans (those purchased before March 23, 2010) generally are not required to follow these regulations.
Unless otherwise stated, the information from this lesson has been obtained from the U.S. Department of Health and Human Services website, and www.healthcare.gov.