The implementation of the new Obama Care has left millions of people in the dark. There are too many people who have no idea what this directive even entails. They don’t know how to utilize the health care, and they definitely have no idea about what the parameters of the insurance are. If you’re one of those people that just have no idea about the mess that is Obama Care, then we’re here to help. Here is a quick summary of a few things you may not know or understand when it comes to the specifics of Obama Care.

Obama Care isn’t for the poor

That’s exactly what a woman told someone with low income. “Obama Care isn’t for poor people!” What an outrage of customer service. If the government wouldn’t have rushed the program in the first place, the parameters and requirements might not be so cryptic to the general public. It’s officially marked that if you do not make between one and four times the amount of the national poverty level. If you make below that, then you’re on your own. If you make more than that, then you’re expected to acquire your own private insurance.

Obama Care

There are four tiers of packages to choose from

The packages are set up and represented by four different metal tiers. There’s Bronze, Silver, Gold, and Platinum. The Bronze plans are the cheapest of the four, obviously, but they will only cover around sixty percent of your medical costs. If you’re able to afford the highest rated package, though, it will cover around ninety percent of your medical costs. It’s not really any better of a deal than what you could find elsewhere. It’s just a way that the government can say that they made provisions before they made it a law to obtain health insurance.

You can’t just go out and grab up some Obama Care

There are now penalties set in place for those that choose (or just can’t) not to invest in a health insurance plan, but you can’t just go grab up some insurance whenever you feel froggy. There are set enrollment dates just like with Medicare. You can figure out exactly what those dates are each year by visiting the ObamaCare website. It’s government. You should expect there to be numerous loopholes you will have to navigate before you actually have a working plan. You will need to plan ahead if you want to avoid being penalized on your taxes for the year.

What are the penalties if I don’t have insurance

You don’t have to fear the reaper in this situation. Yes there is a financial penalty, but it’s way less than what you would have to pay for the insurance each year. There’s also no way that anyone will be jailed due to lack of payment or lack of actually acquiring the insurance. There are also a million reasons why you wouldn’t have to pay the penalty, like if you make below a certain amount…etc.