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How the ACA affects people who buy insurance on their own

UNDERSTANDING THE AFFORDABLE CARE ACT HOW DOES THE AFFORDABLE CARE ACT AFFECT PEOPLE WHO BUY HEALTH INSURANCE IN THE INDIVIDUAL MARKET? This graphic shows how, of the small percentage of Americans who buy their health insurance in the private individual insurance market (insurance that you buy on your own), an even smaller percentage want to keep buying health plans through the individual market and would not get financial help to do so.* There are 267.3 million Americans under the age of 65 5.7% Only 5.7% of Americans buy % of Americans under their health age 65 who are in the individual market insurance through the individual insurance market. And only 0.6% of 0.6% Americans want to keep buying plans in the individual market % of Americans who might have to pay more to keep an individual market plan and would not get financial help to do so.* Let's take a look at how we arrived at these numbers: BY THE NUMBERS ALL THE PEOPLE All the people in the IN THE INDIVIDUAL Now let's break it down to see individual insurance market INSURANCE MARKET who would stay in the market They represent just a small and who wouldn't be affected (5.7% of Americans under age 65) fraction of all Americans. because they'd leave anyway (for example, their job offered them insurance). Some stay in the market Most leave the market These people would 35% 65% These people would leave the stay in the individual individual insurance market in insurance market for a less than a year; most move year or more. to a more traditional (e.g., job-based) plan. Income-eligible for financial help Might need a new plan 29 % of those who stay in the individual insurance market (only 71% 29% These people's incomes make them eligible to get 0.6% of all Americans under age 65) help paying for a new plan in the health insurance may need to buy a new plan and would not get financial help to do so. marketplace. THE AFFORDABLE CARE ACT HELPS EVERYONE Thanks to the Affordable Care Act, everyone benefits, regardless of where they buy their health insurance plan. Even people who need to stay in the individual insurance market will still benefit from the Affordable Care Act's many protections: - People won't be discriminated against if they have a pre-existing health condition. 1 There are new limits on how much money people will have to spend out of their pocket for health services. "Insurance companies can no longer arbitrarily limit how much they pay for health care over the 1 Preventive services like check-ups and mammograms course of a year or a person's are now free through all lifetime. insurance plans. * This small percentage of individuals would want to retain their individual market coverage and would not be income-eligible for financial help to purchase a new insurance plan. Source: Families USA analysis "How Does the Affordable Care Act Affect People Who Buy Health Insurance in the Individual Market?" (November 21, 2013) Families USA 2013

How the ACA affects people who buy insurance on their own

shared by curiona on Nov 23
The recent media attention on people who buy health insurance on their own in the private individual insurance market, and who have received cancellation notices, has been intense. Here's some perspec...


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