Mandated Medicare A vs. Essential Benefits In Obamacare

Mandated Health Coverages Under Obamacare 1

Starting on January 1, 2014, unless you have government approved health insurance, or are otherwise exempt, you will pay a “Shared Responsibility Payment.”

If you are enrolled in at least part A of Medicare, you will be exempt from the “penalty.”  However, if you are not eligible for Medicare A, you must be covered for all of the Essential Benefits.

The chart above illustrates the minimum benefits your government approved health insurance portfolios must have.

Americans over the age of 65 are only required to have Medicare A to be exempt from Obamacare’s Individual Mandate.  If they want all of the “Essential Benefits” they have the option to purchase alternatives and supplements that will add the wanted benefits to their coverage.

What I learn from this comparison is that Obamacare makes a solid argument for insurance supplements for those people who are enrolled in Medicare.  In order to get coverage for all of the Essential Benefits they need, people with Original Medicare will need to either switch to Medicare Advantage during the Annual Election Period (Oct. 15 – December 15) or add Medicare B and Medicare C to their insurance portfolios.

If they want 100% coverage for the Essential Benefits, they will also need to add Medigap to their portfolio.