The Affordable Care Act (ACA) is a comprehensive health care reform bill that was signed into law on March 23, 2010. The ACA was created with the purpose of extending health care insurance to the millions of Americans without coverage.

The ACA resulted in several key changes. First, the ACA prevents insurance companies from denying or charging extra for pre-existing conditions and requires insurance plans to cover a variety of essential services. Second, the ACA extended eligibility requirements for the Medicaid program. Third, the ACA allows children to stay on their parents’ insurance until they are age 26. Finally, the ACA created the Health Insurance Marketplace.

The Health Insurance Marketplace allows Americans to shop and compare insurance plans to find the one that is right for them. The Marketplace allows insured individuals and families to receive tax credits and cost sharing-reduction plans to help lower the cost of health insurance for those who otherwise could not afford it. Tax credits lower the overall cost of your health insurance, whereas cost sharing-reduction plans lower your out-of-pocket maximums.

If you do not enroll during open enrollment, you only will be able to enroll if you qualify for a special enrollment period. Some categories that may qualify you for the special enrollment period are changes in household, changes in residence and loss of health insurance. You can find more information on circumstances that qualify you for the special enrollment period at www.healthcare.gov/coverage-outside-open-enrollment/special-enrollment-period/.

Candace Kornelsen, Graduate Assistant
North Dakota State University

Carrie Johnson, Ph.D., AFC^®
NDSU Extension Specialist and Associate Professor