The new health care bill will affect all families differently depending on factors such as socioeconomic status and dependents. Overall, the health reform will lower health care costs and provide more health care options to families and individuals across the nation. Individuals who are struggling financially will have the opportunity to provide decent health insurance to their family by 2014.
Health Reform Laws Starting This Year
- Children are no longer denied coverage because of preexisting conditions
- Adults with preexisting conditions are eligible to enter into a temporary high-risk insurance pool to cap out-of-pocket expenses
- Young adults are covered under their parents health insurance plan until the age of 26, whether or not they are full time students
- Insurance companies cannot cancel an individual’s coverage in the event that he or she falls ill
- Insurance companies are banned from placing yearly or lifetime caps on coverage
- Group and individual health plans must provide free preventative services, including immunizations and well-child care
Insurance Reform Provisions for 2014
- Most U.S. citizens and legal residents will be required to have insurance
- Insurance companies will be banned from denying anyone coverage because of preexisting conditions
- Insurance companies will be banned from basing insurance premiums on an individual’s health status or gender
- New “insurance exchanges” will be established, allowing individuals and families who are not covered by an employer to purchase affordable health plans through the state
- Government subsidies will be available for low-income families to purchase coverage through exchanges
- Medicare will be available to a wider range of individuals and families
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