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How Obamacare Affects Health Insurance Policies

Connecticut insurance

If you are purchasing Connecticut insurance for your small business, then you are probably looking into group health plan. When you are researching the different plans, it is important to understand some of the changes that come with the Affordable Healthcare Act.

Essential Health Benefits

Obamacare outlined certain healthcare benefits that were essential for individuals. Insurance companies are no longer allowed to cap these costs. This is a good thing for employees, but it might be one of the reasons your insurance costs are more expensive.

Medical Underwriting

Insurance companies are no longer allowed to use medial underwriting to determine the price of the policy. This means that the premium costs are no longer influenced by medical history, so you might get a better price on your Connecticut insurance.

Out of Pocket Costs

The plans are also required to cap out of pocket costs. This benefit is good for the policyholders but it can increase the cost, especially if the out of pocket costs are low.

Maternity Coverage

In addition, the Affordable Healthcare Act mandates maternity coverage. If you are planning to have a child, this feature could benefit you.

All of these aspects of Obamacare can affect the cost of health insurance, so it is important to work with an agent. They can help you choose the right coverage.