What the upcoming changes mean for INDIVIDUALS.
All have to comply:
Individuals are responsible for their own health coverage from an approved private-insurance carrier or will have to PAY an annual tax penalty if they do are not covered by an employee sponsored health plan, Medicaid, Medicare or other public insurance porgrams.
The fine is $95 dollars per person or 1% of income over the filling minimums which ever is greater and will rise to a minimum of $695 or 2.5% of income over the filling minium by 2016.
(Clic here for more detailed information)
Exceptions:
Members of a recognized religious sect exempted by the IRS
Individuals who have a financial hardship
(Congress included subsidies so that people with low-incomes can comply when the mandate goes into effect)
The Good News
Insurance Companies are obligated to offer the same premiums to all applicants that fall withing the same age and geographical location and MOST pre-existing conditions can not be used to exclude an individual or charge higher premims.Insurance companies are prohibited from establishing annual spending caps of specific dollar amouns on essential health benefits.
In California Medicaid eligibility has been expanded as part of the subsidies for those who qualify.
Preventive services such as colonoscopies and mammograms, child immunizations and adult vaccinations recommended by the Advisory on Immunization Practices must be covered by all NEW plans without charging a duductible, co-pay or coinsurance.
(Clic here for full article)
Most insurance carriers are starting "Open Enrollment" on the 1st of October 2013 but the mandate does not go into effect until the 1st of January 2014.
Not just anyone can sell the New health plans, Special Certification is required so be very careful who you seek information from.
