Trump Presidency And How It Will Affect The Affordable Care Act

Since the Presidential election early in November, many citizens have pondered how the country will change in the next four years. One topic that seems to be at the forefront of everyone's consideration is Obamacare and how Trump's election as President of the United States could possibly impact coverage.

What many consumers do not realize is that newly elected President Trump, once he takes office, could kill Obamacare with or without help from Congress. This means that those who are relying on this insurance coverage right now, may need to determine what they can do for coverage if and when Obamacare is cut.

Matthew Martinez with Dimensional Financial Services Corp says, "People need to focus on how they can fill those gaps if and when they lose coverage. There are millions of consumers currently covered under the Affordable Care Act, and if that act is demolished, those people could possibly go without health insurance."

Martinez says that due to the potential penalties for not having adequate coverage, it is more important now than ever to ensure that one has insurance, or understand that without an exemption they will have tax consequences. He says that having an insurance broker can be a valuable asset in maneuvering the laws and regulations put in place by the Obama administration that has set up penalties for those without adequate coverage.

In Arizona, for individuals who do not have Medicaid or coverage through an employer plan, there will be one insurance company available beginning in January 2017. Those living in Arizona could see premium rate increases of more than 100 percent when this plan takes action.

For many small, mid-size and large businesses the Affordable Care Act can feel like a moving target. There are very few insurance carriers that are willing to consider a small one-person business for a group plan. Most require at least two paid employees to be considered and if a business has over 50 employees they will have to offer coverage to their employees. However, there are options for small business owners. The biggest concern for employees is the size of the large deductible that must be met however there are ways to buy down that deductible and provide first dollar benefits. It’s best to seek out the assistance of a qualified insurance professional.

Martinez recommends a second opinion for anyone who currently has coverage to ensure that they are not paying more than they should be paying. He states that an insurance consultant can help navigate through the confusing system of Obamacare and assist consumers in ensuring that they have adequate coverage to avoid penalties if no exemption applies, but also that they have adequate, affordable coverage..

Those interested can learn more about insurance regulations and what to expect when the new President takes office by visiting Martinez online at http://matthewamartinez.com.