The Affordable Care Act also known as Obamacare is a set of laws that enhance healthcare coverage to Americans, making it more affordable. The law also aims to increase the quality of private as well as public health insurance, and aims to increase health insurance coverage to as many as 44 million people who are currently believed to be living without health coverage in the United States.

Some of the key goals of Obamacare have been to include coverage for pre-existing conditions and end widespread gender discrimination in health insurance coverage, and to prevent insurers from dropping coverage when people become sick, or have made a serious original mistake in their application. The goal is also to expand Medicaid insurance coverage to 15.9 million Americans, and establish exchanges that are state-specific, and allow consumers to purchase low cost and affordable health insurance.  Under Obamacare, consumers are required to purchase health insurance by the year 2014, failing which they will have to pay a penalty.

Certain persons may be eligible for discounted premiums under Obama Care. The Obamacare website , which is the official website for the Affordable Care Act, explains exactly when consumers qualify for lowered or discounted premiums.

You may be eligible for lowered or discounted premiums on marketplace insurance plans, if you fall in the following income categories, based on the number of people in your household.

• If you are a single-member household, and have an annual household income of $11,490-$45,960
• If you are a 2-member household, and have an annual income of $15,510-$62,040
• If you are a 3-member household, and have an annual household income of $19,530 to $70,120
• If you are a 4- member household, and have an annual household income of $23,550-$94,200
• If you are a 5- member household, and have an annual income of $27,570-$110,280
• If you are a 6-member household, and have an annual income of $31,590-$126,360

If you fall in one of the following categories, then you may qualify not just for discounted premiums on health insurance coverage, but also lower out-of-pocket costs for marketplace insurance.

• If you are a single-member household, and have an annual income of $11,490-$28,725
• If you are a two-member household, and have an annual income of $15,510-$$30,775
• If you are a three-member household, and have an annual income of $19,530-$48,825
• If you are a four-member household, and have an annual household income of $23,550-$58,875
• If you are a five-member household, and have an annual household income of $27,570-$68,925
• If you are a six-member household, and have an annual household income of $31,590-$78,975

Obamacare also targets the expansion of Medicaid coverage to cover more uninsured Americans in 2014. However, only some states are participating in this plan. If your state is one of those that is expanding Medicaid in 2014, then you may qualify for Medicaid coverage if your annual income is below $16,105 in the case of a single-member household; $21,707 in the case of a 2-member household, $27,310 in the case of a 3-member household, $32,913 in the case of a 4-member household, $38,516 in the case of a 5-member household, and $44,119 in the case of a 6-member household.

In the states of Alaska and Hawaii, income groups that qualify for lowered or discounted healthcare insurance premiums are different from those mentioned above. To qualify for lowered premiums in the state of Alaska, you must have an annual household income of

• between $$14,350 and $57,400 in a one-member household;
• between $19,380 and 77,520 dollars in the case of a two-member household;
• between $24,410 and $97,640 in the case of a three-member household;
• between $29,440 and $117,760 in the case of a four-member household,
• between $34,470 and $137,880 in the case of a five-member household
• between $$39,500 and $$158,000 in the case of a six-member household

If you live in the state of Hawaii, and you are part of a single-member household, your annual income must be between $13,230 and $52,920.

• In the case of a 2-member household, your income must be between $17,850 and $71,400,
• In the case of a 3-member household, your income must be between $22,470 and $89,880;
• In the case of a four-member household, your income must be between $27,090 and $108,350;
• In the case of a five-member household, your income must be between $31,710 and $126,840
• In the case of a six-member household, the annual income must be between $36,330 and $145,320 in order to qualify for lowered or discounted premiums on a marketplace insurance plan.

Consumers who fall into these income categories may end up paying lesser for their insurance premiums, but consumers who earn more than 400% above the federal poverty line, will end up paying more for their health insurance than they earlier did. The bottom line is that Obamacare will expand health insurance coverage to benefit middle-income and low-income consumers, who either lack insurance, or are underinsured.