Obamacare for the Self-Employed

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Obamacare for the Self-Employed

Obamacare was introduced with the main objective of bringing the maximum number of people under the cover of health insurance – making health insurance affordable for as many as possible. Having some kind of a health insurance plan gives access to good healthcare and promotes healthier communities. The fact that this objective has been reached is clear from the facts and figures compiled through the surveys.

Facts of Obamacare

The Affordable Care Act, or Obamacare, as it is popularly referred to, has bought about some major changes in the healthcare insurance industry. The excellent records of this law may not be uniform across all states or all sections of society but it has been a success largely. For example, in California, there has been a drop of almost fifty-percent of uninsured people after Obamacare was implemented.

Obamacare for Self-Employed People

The employed people mostly have health insurance through their employers. High-income people can buy their health insurance if they don’t get that through their employees. It is the lower-income groups and self-employed people for whom health insurance had become a bane. Self – employed people don’t have access to group employer insurance benefits and hence have to buy personal health insurance. The prohibitive costs of health insurance had forced many people to stay away from buying health insurance at all.

After the implementation of the various tenets of the Affordable Care Act, there has been a significant increase in the number of people who have their own health insurance. The expansion of the government funded health insurance programs like Medi-Cal in California has brought many self-employed and low-income people under health insurance cover. Insurance companies are now offering many low-cost affordable health insurance plans through the health exchanges as part of the Obamacare initiative.

Repeal of Obamacare

The news about a possible repeal or replacement of Obamacare is not good for the thousands of self-employed people who have been able to buy health insurance in the last few years. Many who work for small businesses and maybe don’t get health insurance benefits are apprehensive about the repeal of Obamacare.

Experts are of the opinion that the new healthcare bill may not work in favor of the self-employed or low –income people working in small businesses. They fear a major increase in premiums or other unfavorable changes can jeopardize the health insurance security that these people have at present.