What can you benefit from the health care reform bill? - part 1
According to the White House, some provisions of the Healthcare Reform bill take effect immediately to benefit small businesses and taxpayers.
1) Small business tax credits up to 35 percent will be available to firms that choose to offer insurance coverage, effective beginning calendar year 2010. The tax credit will be increased to 50 percent by 2014.
2) The healthcare reform bill prohibits discrimination against children with pre-existing conditions, effective 6 months after enactment. Beginning in 2014, the protection will apply to all persons.
3) A temporary subsidized high risk pool is to be created to help uninsured American with pre-existing conditions who have access to affordable insurance. Effective in 2010.
4) Insurance companies are banned from dropping people from coverage when they get sick. Effectively 6 moths after enactment.
5) The new health care reform law provides a $250 rebate to Medicare beneficiaries who hit the donut hole in 2010. Effective for Calendar year 2010. Beginning in 2011, institutes a 50 percent discount on prescription drugs in the donut hole and completely closes the donut hole by 2020.
6) The law will eliminate co-payments for preventive services and exempts preventive services from deductible under the Medicare program. Effective beginning Jan 1, 2011.
7) Young people up to 26 years old can be covered under their parents' insurance coverage policy. Effective 6 months after enactment.
8) The health care reform bill creates a temporary re-insurance program to help offset the expensive premiums for employers and retirees for health benefits for retirees aged 55 to 64. Effective in 2010.
9) Heath insurance companies are banned from placing lifetime caps on coverage. Effective 6 months after enactment.
10) The new law restricts use of annual limits to ensure access to needed care in all new plans and grandfathered group health plans. Effective 6 months after enactment.
(This article may contain content from documents from white house)
This is the second part cited in verbatim from the White House website.
11) Free Preventive Care under New Private Plans
Requires new private plans to cover preventive services with no co?payments and with preventive services being exempt from deductibles. Effective 6 months after enactment.
12) New, Independent Appeals Process
Ensures consumers in new plans have access to an effective internal and external appeals process to appeal decisions by their health insurance plan. Effective 6 months after enactment.
13) Ensures Value for Premium Payments
Requires plans in the individual and small group market to spend 80 percent of premium dollars on medical services, and plans in the large group market to spend 85 percent. Insurers that do not meet these thresholds must provide rebates to policyholders. Effective on January 1, 2011.
14) Community Health Centers
Increases funding for Community Health Centers to allow for nearly a doubling of the number of patients seen by the centers over the next 5 years. Effective beginning in fiscal year 2011.
15) Increases the Number of Primary Care Practioners
Provides new investments to increase the number of primary care practitioners, including doctors, nurses, nurse practitioners, and physician assistants. Effective beginning in fiscal year 2011.
16) Prohibits Discrimination Based on Salary
Prohibits new group health plans from establishing any eligibility rules for health care coverage that have the effect of discriminating in favor of higher wage employees. Effective 6 months after enactment.
17) Health Insurance Consumer Information
Provides aid to states in establishing offices of health insurance consumer assistance in order to help individuals with the filing of complaints and appeals. Effective beginning in fiscal year 2010.
18) Holds Insurance Companies Accountable for Unreasonable Rate Hikes
Creates a grant program to support States in requiring health insurance companies to submit justification for all requested premium increases, and insurance companies with excessive or unjustified premium exchanges may not be able to participate in the new Health Insurance Exchanges. Starting in plan year 2011.