Health Care Reform and YOU
|
Posted By: How May I Help You NC on March 26, 2013 FEATURED Content An ongoing dialogue sponsored by iCan Today’s topic: The Law’s Impacts on Benefits and Costs When the Affordable Care Act was signed into law by President Obama, the hope was that coverage could be extended to millions of Americans that up until now have had difficulty finding affordable health insurance. As 2014 approaches, it is becoming clear that many Americans will benefit from the ACA . . . but at the same time, other Americans may find that the price of health insurance has increased dramatically. The ACA will bring about many changes to health insurance in the United States, and it is important that you understand those changes as they could impact the price and quality of your health care coverage: Essential Health Benefits: Beginning in 2014, major medical policies (what most of us would consider to be “comprehensive” health insurance) must contain what are known as “essential health benefits.” This includes ambulatory care, emergency services, hospitalization, maternity and newborn care, mental health and substance abuse services, prescription drugs, rehabilitative services and devices, lab services, preventive care and chronic disease management, and pediatric services. Many health insurance policies already contain benefits similar to the “essential health benefits” package required by the government. However, many insurance companies will have to retool – and re-price – their policies to be in compliance, and to make sure there is enough money to doctors and hospitals for covered services. For instance, some policies don’t cover maternity care – an expensive benefit - but after 2014, all health insurance policies must include maternity care as a benefit. Community Rating: Another big change coming to health insurance involves how policies are priced for young people versus older people. Historically, insurers have been able to consider a range of factors when determining your health insurance premium, such as your medical history, your current health status, and your gender. The ACA will prohibit insurers from considering those factors. Instead, they will only be able to consider whether you are a smoker (smokers will pay substantially higher premiums than non-smokers), and your age. On age, the changes could result in moderate price decreases for older consumers and big increases for younger consumers. This is because the ACA provides that insurers cannot charge older consumers more than 3 times what they charge younger consumers – and that is a big change from current practice, in which most states allow insurers to charge older consumers 5 times (or more) what they charge young consumers. This could have profound impacts on prices and consumer behavior, as older people on average need a lot more medical care than younger people. Guaranteed Issue: Individuals with pre-existing conditions often find it difficult or impossible to find affordable health coverage. That will change in 2014. Insurers will no longer deny coverage or charge more due to an existing medical condition. While this is good news for many, it also poses a problem: if people wait until they are sick to purchase coverage, that could result in higher premiums for other people. That’s one of the reasons the federal government created the “individual mandate”, requiring all Americans to carry health insurance beginning in 2014. Taxes and Fees: There are several new taxes and fees that will also impact the cost of health coverage in America. A multi-billion dollar Health Insurer Fee will be imposed on all health insurance companies. There are also new taxes on pharmaceutical companies, medical devices, and overly-generous “Cadillac” health insurance plans. There will also be special fees for policies purchased on the new Insurance Exchanges. Some or all of these new taxes and fees will be passed along to consumers like you, driving up the cost of comprehensive health insurance. What does this mean for you? If you have been denied health insurance in the past due to a pre-existing condition, you may finally be able to secure the comprehensive coverage you need. Likewise, older Americans may find that the price of insurance decreases. But others – in particular young, healthy people – may see premiums increase dramatically. Americans still don’t know what health insurance will cost in 2014 but we will soon. Over the next few months, you can expect to see many news stories about both the benefits and drawbacks of the ACA. Keep in mind that individuals with household income of less than 400% of the Federal Poverty Level (about $44,000 per year) will qualify for sliding-scale premium assistance on the government-managed Insurance Exchanges. *** Choosing the right health care coverage for you and your family may seem like a confusing process, but the dedicated team at iCan is here to help you every step of the way. We offer a wide range of health care coverage options, from comprehensive major medical policies to fixed benefit indemnity products. We also offer a variety of other products that can help you live a happier, healthier life – including telemedicine services, licensed clinical counseling, and health advocacy services. To learn more, please contact an iCan team member at 1-800-348-8170. In next month’s HBCUConnect newsletter, we will tell you more about the “Insurance Exchanges” If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
 |
How May I Help You NC
Management, See Moss Interactive Bellarmine University class of 2021 Member Since January 2011 |
Comments
More From This Author
Latest Blogs
 |
Top Strategies for Effective Door Hanger Marketing in 2026As businesses continue to explore innovative ways to connect with local audiences, door hanger marketing remains one of the most reliable tools for generating leads and increasing sales. In 2026, the ...more
MailPros USA • 4 Views • February 24th, 2026 |
 |
More Ways to Customize The 2026 Ford F-250 TruckFord's approach to the F-250 Heavy Duty lineup is "if it isn't broken, don't fix it." But for 2026, the motto is "if it isn't broken, add more options." The new F-250 didn't need a complete overhaul t ...more
Randi Payton • 64 Views • February 23rd, 2026 |
 |
Billboard Charting R&B Artist DIAMONIQUE JACKSON Releases Sultry New Single "I Deserve More"@DIAMONIQUEJACKSON
#DIAMONIQUEJACKSON
New Video "I Deserve More" Below!
https://youtu.be/LjeJ-j4-Oso?si=1ukQoUkYOu...
BILLBOARD-CHARTING R&B ARTIST DIAMONIQUE JACKSON ENTERS 2026 WITH A NEW ER ...more
LaMarr Blackmon • 511 Views • February 17th, 2026 |
 |
The hidden risks of using Google’s Blogger platform
After reviewing a detailed Site Checker report, I discovered that many of my blog’s URLs were taking far too long to load. As a result, readers abandoned the pages before they even opened. This wasn ...more
Joel Savage • 154 Views • February 16th, 2026 |
 |
BLACK OWNED BEAUTY SUPPLY ASSOCIATION (BOBSA) AND JUNIQUES AD SERVICE CREATES DFY 30 SEC DISTRIBUTION SERVICEANNOUNCEMENT
Juniques Ad Service, a proud Juniques Company, is excited to share a powerful new collaboration with the Black Owned Beauty Supply Organization. Through this collaboration, members and s ...more
rickey johnson • 213 Views • February 11th, 2026 |
Popular Blogs
 |
Divorce in America in 2009 – What’s love got to do, got to do with it?
Join Brother Marcus and the cast and the crew of the Brother Marcus Show live this Sunday evening on February 1, 2009 @ 8:00 p.m. for another hot topic in our community! “Divorce in America in 2009 ...more
Brother Marcus! • 70,798,722 Views • January 27th, 2009 |
 |
VISINE ALERT!!!Seemingly innocent medication such as Visine eyedrops are used by people to concoct a mixture with similar effects as a date-rape drug.
When mixed with alcohol and taken orally, the eyedrops can l ...more
Siebra Muhammad • 118,323 Views • May 23rd, 2009 |
 |
"Chain Hang Low" check out the real meaning of the Lyrics!Recently there is a new artist out of Saint Louis that goes by the name JIBBS. Jibbs debut single "Chain hang low" has a history that most people are not aware of. The particular nursery rhyme that th ...more
Tyhesha Judge-Fogle • 75,373 Views • November 9th, 2006 |
 |
HBCU Marketplace Gifts: Divine 9 Premium Fraternity / Sorority Playing CardsVendor: Charles Jones
Item Price: $20.00
Price Includes Shipping: Yes - Shipping Included
Item Description:
Pantheon Series - Divine 9 - Premium Playing Cards (choose Gold Series or Silve ...more
How May I Help You NC • 61,594 Views • December 2nd, 2018 |
