The purpose of the affordable care act is to ensure Americans have easy access to health insurance. This legislation was passed by President Obama on March 23, 2010. It is anticipated that with the new law, typical barriers to obtaining health care coverage or services will be decreased. Once the legislation is fully implemented in 2014, Americans will be required to get insurance via their employer. Therefore, in this context, your average health insurance quote is likely to get more competitive.

Under the new affordable care act, insurance providers cannot deny coverage to buyers based on existing medical conditions nor remove coverage of persons who develop a medical condition. As per the new act, insurance providers will not be able to charge a higher premium amount due to health concerns in an individual. It will be mandatory for large-sized organizations to provide affordable health insurance to all employees and failing to do so would incur penalties. Small-sized organizations can offer insurance coverage to employees with an exchange of tax credits. Individuals will be required to get health insurance, otherwise they would need to make a penalty payment. The penalty would be payable if such persons did not qualify for certain types of exemptions. Parents would be able to offer health insurance for their children until they reached 26 years of age.

Families or individuals in America who do not have any insurance at present will be able to enjoy many other coverage alternatives once the affordable care act is implemented. Families below a certain income level will be able to receive financial assistance in case they are unable to afford purchase of health insurance. Under the new scheme, while the average health insurance quote is expected to reduce in its rates, health plans participating in exchanges would need to furnish a package of essential benefits covering 60 percent of all associated health care costs. Once individuals purchase such insurance packages, the monthly premium cannot exceed a fixed percentage of their income. The percentage would vary between 2 and 9.5 percent and will be dependant on the income levels generated every year.

Once the new act is enforced, Americans will be able to enjoy a plethora of coverage alternatives. They could choose to stay with an existing employer coverage plan, opt for health plans via an insurance exchange within the state or engage in health insurance for the long term. For persons who have purchased individual policies, they can choose to retain the existing plan or buy insurance coverage through an exchange within the state. The health insurance quote rates will most likely reduce once the act is implemented, as an extension of the principle of affordable health care for Americans.