Insurance Products Source Frequently Asked Questions

Obamacare is health care reform legislation signed into law by President Barack Obama in 2010. While commonly referred to as Obamacare or the Affordable Care Act (ACA), the official name of the legislation is the Patient Protection and Affordable Care Act.

Obamacare was enacted to make sure that all Americans have access to affordable health insurance. If you don’t get insurance through your employer, you can now get access to government-sponsored health care plans, and you may even qualify for a government subsidy to help you pay for it.

Obamacare also changed some of the rules that insurance companies must follow so that more people could be covered. For example, insurance companies can no longer exclude someone from coverage just for having a pre-existing medical condition.

No, but there are many affordable health care plan options, and you may even qualify for an Obamacare subsidy to help you pay for the cost. Call us for a free quote today.

Under Obamacare, many individuals and families are eligible to receive a subsidy to help them pay for health insurance coverage if they are not eligible for Medicare or Medicaid and are not offered affordable coverage through their employer. Your eligibility depends on factors such as your annual household income and how many people are in your household. 

You’ve come to the right place. Insurance Product Source can help you find and sign up for the right health care plan – all at no additional cost to you. As your licensed health insurance agent, we can help you choose among the many affordable health insurance plan options available in your state for individuals, families and small businesses. We will also be available after you get coverage, to answer any questions you may have.

Most people sign up for Obamacare during Open Enrollment which runs from November 1st thru December 15th. During this designated time you can sign up for health care coverage for the upcoming calendar year. Open enrollment happens once a year.  However, if you experience a “qualifying life event” outside of the open enrollment period, you may be eligible for special enrollment to get the coverage you need. A qualifying life event could include getting married, having a baby, having a substantial change in income, losing your current health insurance, or moving to a new state. There are many other circumstances that may be considered a “qualifying life event” that would enable you to get health insurance at any time of the year. Contact us to learn more.

Under Obamacare, if you can afford to buy health insurance but choose not to get coverage, you must pay a penalty or fee when you file your federal tax return. This penalty is calculated as a percentage of your household income, or as a per person fee, whichever is higher. Currently, the following states that may penalize you if you have no insurance are:

• Massachusetts
• New Jersey
• California
• Rhode Island
• Washington D.C

Contact Social Security to sign up for Medicare. You can apply online here: https://www.ssa.gov/benefits/medicare/

We're proud to be the Medicare insurance provider you can trust.

Most people do not have to pay for Medicare Part A (hospital insurance) premiums because you paid into the system throughout your whole working life. In 2022, the Medicare Part B (medical insurance) premium is $170.10 per month. However, you may qualify for no cost or a lower amount. Contact us with any other questions you may have about affordable health insurance.

Contact us with any other questions you may have about affordable health insurance.

The main differences between Health Maintenance Organization (HMO) and Preferred Provider Organization (PPO) have to do with their cost, network coverage, and referrals. Let's take a closer look at these two types of affordable health insurance.

HMO

Cost: HMO features lower monthly premiums and out-of-pocket costs, which may or may not include a deductible.

Network Coverage: HMO is in-network only (except for medical emergencies or if care isn’t available in the network).

Referrals: To see a specialist with HMO, a referral from a primary care doctor may be required.

PPO

Cost: PPO features higher monthly premiums and out-of-pocket costs, including deductibles.

Network Coverage: PPO offers flexibility to see providers both in and out of network.

Referrals: None — To see a specialist with PPO, specialist referrals aren’t required and you don’t need to have a primary care doctor.