By: Ari Paredes, Emplicity Benefits Manager and Master of Healthcare Hoopla
Since the passage of the health care reform bill (formally known as the Patient Protection and Affordable Care Act), by President Obama on March 23, 2010, the public opinion has been equally divided. What may have been originally seen as the fix to our out-of-control health care system, has now resulted in the needs of the Americans asking more questions and wanting answers to how these sweeping changes will affect them.
Unfortunately, even the health insurance companies themselves are still working internally on how to incorporate the changes into their practice and how to effectively communicate the changes to their members.
For an individual to try and grasp the full effect of the entire health care reform bill, one would see that the effect the changes have on our country is not just limited to our health care system but also into other aspects of our daily life. It is said that this law is like a spider’s web, when you pull on one side the web, it distorts the entire intricacies of web’s design.
Even though changes will be transpiring from now to 2015, and later, below are the key provisions of the health reform that you need to be aware of to take effect immediately for 2010:
- Most Americans will be required to purchase health coverage, whether thru your employer or on your own with temporary subsidy assistance from the government, until the Exchange (Interim High-Risk Pool) is available.
- Provide dependent coverage for adult children up to the age of 26 for all individual and group policies.
- Prohibit insurance companies from rescinding coverage except in cases of fraud.
- Prohibit pre-existing condition exclusions for children.
- Prohibit individual and group health plans from placing lifetime limits.
- Begin to close the Medicare Part D Donut Hole.
For more detailed information regarding the health reform and any immediate changes to your current benefits coverage, we recommend reviewing the government links and your health insurance carrier websites for these changes and how they will be affecting you today and in the future.
