Obamcare Insurance ACA Enrollment

When Did Obamacare Start?

While President Obama officially signed the Affordable Care Act into law in 2010, the first Open Enrollment Period wasn’t until October 1, 2013. The initial enrollment period ended on March 31, 2014. Many people are surprised that it took so long to get Obamacare off the ground, but various aspects of the law had to be ironed out before opening the marketplace.

How Does Obamacare Work?

Under Obamacare, insurance companies are required to offer health care to all Americans. The act made it illegal for insurers to reject individuals based on pre-existing conditions or their current health status. The main reason Obamacare plans are affordable is that the federal government siphons money every month to major insurance companies. This money (which was formerly called cost-sharing-reduction payments) collectively reduce insurance premiums for millions of Americans, therefore making health care plans affordable.

Affordable Care Act Subsidies for Individuals and Companies