Recent news about the repeal of the Affordable Care Act has raised a number of uncertainties. The ACA has been helping students across the country get proper health insurance coverage for years, so a change in regulation has the potential of undoing that extra layer of protection students are currently enjoying.
To fully understand the impact of the repeal, we must first understand the impact of the Affordable Care Act for students. That is why in this article, we are going to take a closer look at the insurance options you as a student have with the help of ACA.
Marketplace coverage is the most common type of insurance coverage used by students across the country. For those who don’t have a student health plan, the marketplace coverage is the first solution. The policies and plans available to you are based on your income.
Before you can gain access to the marketplace coverage, however, you need to file for taxes. The income tax you pay is the determining factor in the process. Insurance providers are ranking students who are trying to get the marketplace coverage based on their income taxes.
Keep in mind that you can still buy an insurance plan through the marketplace even when you are listed as a tax dependent. You will find a lot of interesting health coverage options and plans to choose from. However, you will not be able to enjoy the same savings and discounts you get when applying as a taxpayer.
Medicaid and CHIP
Despite the relatively well-formulated set of regulations, there are still those who don’t make enough to buy an insurance policy. Unfortunately, not having proper health coverage means you will have to pay a fine. The situation is worse when you also can’t get a student health plan from the university, since you have no other option to look into; or do you?
Thanks to the Affordable Care Act, healthcare law students who fall below the low-income level automatically qualify for a Medicaid. As we all know, Medicaid is provided for free and will help you get the proper health insurance coverage you need in almost every case. Medicaid has helped millions of students get healthcare.
There is also CHIP or Children’s Health Insurance Program. There are age restrictions and other requirements to meet if you want to use CHIP as a solution, but it is a last resort that’s put in place to protect students even further.
Changes in Regulations
According to studies by Hofstra Law and its masters in health law policy department, the repeal of Affordable Care Act can take away health insurance coverage for more than 6 million students across the country. More will struggle to get good health coverage, especially since not all universities offer health plans for their students.
Stakeholders and those in health law programs are working together to keep the coverage in place. While the government and the senate seem adamant that the Affordable Care Act must go, there those who are actively lobbying to keep the regulation – and supporting laws – in place. We just have to wait and see.