How The Health Care Reform Bill Can Help You The First Year
- Insurance companies will no longer be allowed to drop you if you get sick.
- This marks the end of lifetime coverage limits.
- Annual limits will be restricted.
- If you have a pre-existing condition, you will be able to obtain health insurance coverage through a new program that will expire once new insurance exchanges begin in 2014.
- Insurance companies no longer will be able to exclude children from coverage for a pre-existing condition. For example, if your son has diabetes, you won’t have to worry about whether you’ll be able to get insurance for him.
- Your children can remain on your health insurance policy until age 26. This is especially beneficial for college students.
- If you are an early retiree (between 55 and 64 years old), you can continue your coverage through a temporary reinsurance program. In 2014, this program will cease, and you can obtain coverage through new insurance exchanges.
- If you are a small business owner, you may be eligible for a tax credit to help provide health insurance coverage for your employees.
- If you are a senior on Medicare and you fall into the “doughnut hole” coverage gap, you will receive a $250 rebate. Ultimately, the “doughnut hole” will be closed.
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