The Affordable Care Act (ACA) and its recent health care reform will affect virtually all Americans, whether young or old, unemployed or working, married or single. The economic impact of the act will vary based on your current health status and age. Ultimately, the goals of healthcare reform are to stabilize or reduce costs while increasing the number of people insured and to increase the quality of care.

The “individual mandate” is at the core of the Affordable Care Act. Put simply, if you are not covered under an employer-paid health plan, Medicare, Medicaid, or other public insurance program, you are required to purchase an approved private insurance policy or be faced with paying a tax. This mandate requires all Americans to have health insurance. While the mandate is currently the topic of numerous debates and legal challenges, it was intended to be a method to provide affordable universal healthcare coverage for everyone.

Some of the facts about the employer mandate are:

  • You will pay a fine if your spouse or children are uninsured
  • Most employee-sponsored plans will qualify to meet the mandate
  • The mandate fine is small
  • Many older individuals will be exempt

For more information about how the individual mandate will affect your health insurance in California and the latest updates on the Health Care Reform, contact the California insurance experts at D&S Insurance Services.