What is Individual Mandate?

Is it mandatory to get covered?

If you don’t maintain a minimum essential coverage or obtain an exemption, you will have to make a Shared Responsibility Payment for each month. You don’t have to pay, if you have coverage for at least one day during the taxable month. Here, we cover Obamacare’s individual mandate, an unofficial name for the requirement to obtain coverage under the Affordable Care Act.

The only way health insurance providers can afford one is when everyone buys insurance or pays tax. The health insurance companies won’t be able to provide insurance and the premium rates would be unaffordable, if you wait until you’re sick.

Always remember that healthcare costs more without coverage, so try to get health insurance. Not only protects you in an emergency, but also let you pay insurer rates for care. With all the options for low-cost coverage and new benefits included in every plan, it’s hard to argue that paying the fee is a better option. The fee increases every year, so going without coverage becomes more costly with each passing year.

Obamacare offers benefits, rights, and protections to all Americans in regards to their health care. These benefits, rights, and protections include the following.

  • The mandate for health insurance companies to cover everyone regardless of pre-existing conditions, which half of Americans have.
  • Rules now prevent insurers from charging women more than men.
  • A ban on dropping coverage for any reason aside from fraud.
  • Mandates that an insurer cover stated essential health benefits.
  • Wellness visits and preventative services with no out-of-pocket costs.
  • General increases in the overall quality of your care.

Find Quality, affordable health insurance today