u.s. health care reform: what's in? what's out? what's coming?
DESCRIPTION
A high-level review of health care reform (as of July 2013) from the perspective of employers and individuals purchasing health insurance.TRANSCRIPT
What’s In, What’s Out &
What’s Coming?
Legal stuff
Notice of Disclaimer –Cathy Miller is not an attorney or health care provider and cannot provide legal or health care advice. The information provided is for your general background only, and is not intended to constitute legal or health care advice as to your specific circumstances. We recommend you review legislation with legal counsel and visit your physician for health care issues. Photo Credits: BigStock Photo
NOTE: The following is a brief overview only (as of July 2013) and does not include Medicare/Medicaid provisions. The summary is from the perspective of an individual who purchases health insurance or an employer that sponsors health benefits.
U.S. Health Care Reform
Health Reform
THE AFFORDABLE CARE ACT SIGNED 23
EFFECTIVE DATES FOR INITIAL ROLLOUT
2010 – 2018
90 67
Total Number of Provisions Number in
Effect
Source: Kaiser Family Foundation
3.5 Million +
What’s in?
COVERAGE FOR ADULT CHILDREN UP TO AGE 26
PRE-EXISTING CONDITIONS INSURANCE PROGRAM (PCIP) CLOSED TO NEW APPLICANTS
FULL COVERAGE FOR CERTAIN PREVENTIVE SERVICES
UNIFORM SUMMARY OF BENEFITS & COVERAGE
3.5 Million +
REMOVED HEALTH SAVINGS PLAN COVERAGE FOR OVER-THE-COUNTER
MEDICATION (UNLESS PRESCRIBED BY A PHYSICIAN)
10% TAX ON TANNING SALONS
SMALL BUSINESS TAX CREDITS
INCREASED TAX ON NON-QUALIFIED EXPENSES FOR HEALTH SAVINGS PLANS
20%
INCREASED ITEMIZED DEDUCTIONS FOR MEDICAL EXPENSES
from 7.5% of adjusted gross income
10%
PROHIBITED LIFETIME LIMITS, CANCELLING COVERAGE & PRE-
EXISTING CONDITION EXCLUSION FOR CHILDREN
3.5 Million +
What’s out?
THE CLASS ACT INSURANCE PROGRAM FOR LONG-TERM CARE
SUSPENDED INDEFINITELY
Out for
now
SMALL BUSINESS HEALTH OPTION PROGRAM (SHOP)*
THE BASIC HEALTH PLAN
THE EMPLOYER MANDATE
* Multiple plan option delayed
3.5 Million +
What’s coming?
INDIVIDUAL MANDATE FOR COVERAGE
(2014)
ERASED PRE-EXISTING CONDITIONS EXCLUSIONS (ADULTS-2014)
STATE-BASED INSURANCE EXCHANGES
(2014)
TAX CREDITS/SUBSIDIES TO ELIGIBLE INDIVIDUALS (2014)
NO LIFETIME/ANNUAL LIMITS ON ANY COVERAGE (2014)
3.5 Million + DEFINED CATEGORIES OF ESSENTIAL HEALTH BENEFITS GO INTO EFFECT
(2014 – INDIVIDUAL & SMALL GROUP)
Wellness Programs
ALLOWS EMPLOYERS TO OFFER REWARDS TO EMPLOYEES UP TO 30% OF THE COST OF COVERAGE FOR PARTICIPATION IN PROGRAM (2014)
Cathy Miller, Business Writer
Go to my health care blog for a 3-part series that explains more about:
Health Care Reform: What’s In – What’s Out & What’s Coming?
www.SimplyStatedHealthCare.com
Cathy Miller, Business Writer
Business site:
www.SimplyStatedBusiness.com