Now that it's been a year since the Affordable Care Act Coverage was passed here a timeline of what changes occurred last year and what will happen in the future.
Effective 2010
Expands dependent coverage to include adult children until age 26.
Eliminates lifetime benefits caps on basic health benefits and restricts annual caps.
Keeps plans and insurers from charging more for emergency services that are obtained out of a plan network.
Requires plans to cover preventive services without cost to members.
Effective 2011
Requires plans to spend at least 85% of large group revenue and 80% of individual and small group revenue on health care and quality improvement.
Creates a system for reviewing "unreasonable" rate increases.
Effective 2013
Limits deductibility of health insurance company executive compensation.
Effective 2014
Creates a health insurance exchange distribution system
Creates a health insurance purchase subsidy tax credit
Requires health insures to sell coverage on a guaranteed issue, mostly community-rated basis.
Requires states to make Medicaid available to individual and families with incomes up to 133% of the federal poverty level.
Thursday, March 31, 2011
Thursday, March 24, 2011
Anniversary
Yesterday was the one year anniversary of when President Obama signed the Healthcare Reform Act into a law. Changes have taken place in the last year with more to come until the transition is complete in 2014. While popular opinion at first was supportive of the law lately more and more individuals are questioning if this law is really beneficial.
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