Future Changes
Healthcare Reform - How does it affect you?
The Patient Protection and Affordable Care Act will impact every American with change….some this year and the balance over the next decade. So how does this affect you and your business?
Not much will change for most of us until 2014. We will help you navigate through your options and help you choose the most prudent course for your particular needs. If you have more questions, just call toll-free (866) 745-9555.
Changes in 2010 - 2011
- Senior $250 rebate: Seniors enrolled in Part D who reach the Donut Hole will receive a rebate of $250 and in 2011 will start seeing discounts up to 50% for brand name medications (donut hole eliminated by 2020)
- Tax Credits for small businesses: Businesses with 25 or fewer employees and average wages of less than $50,000 can qualify for a tax credit of up to 35%of their premium costs. To see if your small business qualifies click here, for details see IRS.gov.
- Pre-existing condition exclusions are prohibited for dependent children under age 19 (includes adults beginning 2014).
- Dependent Coverage up to age 26 is mandated later this year.
- Coverage rescissions and cancellations are prohibited except for fraud or intentional misrepresentation.
- High-risk pools: Later this year, individuals with pre-existing conditions making them uninsurable for the preceding six months may enroll in a new high-risk insurance program subsidized by the federal government and administered by the states.
- Risk assessments and preventive health plans for seniors: Effective 2011, Medicare enrollees will be provided a comprehensive risk assessments and personalized prevention plans as part of the Medicare program.
- Medicare Advantage (Part C) cost sharing limits become effective and plans would begin to have their payments frozen.