In the past couple of weeks we have all heard about Obamacare, and the political debates that have been going on in the last year.  However, to many Americans it is still unclear how it is going to affect their personal health care plan.  That is why YaSabe has put together all you need to know about the Affordable Health Care Act, and what this means for the Hispanic population in the United States.

What is ObamaCare?

The Affordable Care Act, commonly called ObamaCare, aims to provide Americans with access to affordable quality health care. It was signed into a law March 23rd, 2010 and the bill mandates that all Americans have health insurance by 2014 -or pay a tax penalty.

Under ObamaCare, low-to-middle income Americans will get subsidies towards their insurance. Many Americans will keep their employer-based or current insurance while others will be able to purchase their insurance through online health insurance exchanges. The bill also includes preventive care and protections including insurance companies no longer being able to deny individuals for preexisting conditions or being able to drop their coverage for being sick.

Contrary to some reports, it is important to say that ObamaCare does not replace private insurance, Medicare, or Medicaid, but the improvements made to the system are expected to decrease the average cost of healthcare for seniors.

Why should the Hispanic Community care?

Currently in the US there are nearly 30 percent of Latino US citizens and legal permanent residents that are uninsured; an additional 30 percent rely on public health insurance programs because they can’t access health care through their employers, making Hispanics the largest uninsured minority group in the US. Additionally, almost 2.3 million hispanics are self employed or are small business owners.

Beginning in 2014 the Hispanic community will not only gain access to affordable health care,  with over 9 million more Latinos eligible for health coverage, but self-employed or small-business owners (and their 1.4 million employees) may be eligible to purchase affordable health care coverage through an insurance exchange, giving employers the opportunity to choose more affordable care, gain access to critical preventive services, and protect individuals with pre-existing conditions.

Where can I find more information?