Affordable Health Insurance: 5 Things to Know About Health Care Reform
The Affordable Care Act passed in March of 2010 has already expanded health insurance options and, in some cases, made health coverage more affordable. With these new provisions in place there is no excuse for not having health insurance.
1.In September 2010, insurance companies were no longer able to drop members just because they made a error on their application.
2.As of September 2010, if you have children under age 26, you can insure them under your policy if it allows for dependent coverage. The only exception is if you have an existing job-based plan, and your children can get their own job-based coverage. Many plans made a business decision to provide this coverage earlier, allowing children to be insured before the September 2010 reforms.
3.As of September 2010, job-based health plans and new individual plans are not allowed to deny or exclude coverage to any child under age 19 based on health conditions, including babies born with health problems.
4.Starting in 2014, you may receive tax credits to help pay for insurance, if your income is less than the equivalent of about $88,000 for a family of four today and your job doesn’t offer affordable coverage.
5.Starting in 2014, if your employer doesn’t offer insurance, you will be able to buy insurance directly through an Exchange. An Exchange is a new transparent and competitive insurance marketplace, where individuals and small businesses can buy affordable and qualified health benefit plans. Exchanges will give you power similar to what large businesses and members of Congress have to get better choices and lower prices. They will offer a choice of health plans that meet certain benefits and cost standards.
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