Health Insurance – Patient Protection and Affordable Care Act

The PPACA, which is short for the Patient Protection and Affordable Care Act, was signed into law on March 23, 2010. President Obama approved this bill to improve health care, along with the Health Care and Education Reconciliation Act of 2010. There are many health-related provisions that will take effect for the following four years, and Texas health insurance will be affected, just like insurance in all the other states. New provisions include prohibiting denial of coverage due to pre-existing conditions, increasing Medicaid eligibility, creating incentives for businesses to offer health care benefits, creating health insurance exchanges, provide support for medical research, and subsidizing insurance premiums.

The costs for all these new programs and changes will be paid for by fees and taxes. Additional measures to pay for these new programs include taxes on indoor tanning, new Medicare taxes for those in a high-income tax bracket, fees on medical devices, a tax for people that do not get health insurance coverage, and Medicare Advantage program fairness changes . The Congressional Budget office is estimating a federal deficit reduction of $ 143 billion over the first 10 years.

There are some provisions to this act that started immediately, others started at the end of September 2010, and still others will not go into effects until 2014. Some more key provisions of this bill include an increase in the Medicaid drug rebate, the creation of the Patient-Centered Outcomes Research Institute, and the creation of the National Prevention, Health Promotion and Public Health Council. Dependent children will now be covered under their parent's Texas health insurance plans, as well as all other states, until they are 26 years old. Insurance companies are now prohibited from dropping insured when they become sick.

The following provisions will be rolled out over the next few years: Employers must notify employees of the value of provided benefits on W-2 forms. Customers will receive a rebate when insurers do not spend at least 80% of small -group and individual or 85% of large-group premiums. Flexible spending accounts, health savings accounts, and other such accounts will not be able to be used to pay for over-the-counter medications. When self employed people earn more than $ 200,000 annually, they will be subject to an additional 0.5% tax. Insurers will be prohibited from charging higher rates or discriminating against people with pre-existing health conditions. Annual spending caps will be prohibited. Restaurants with more Chain than 20 locations will be required to show the caloric content of foods on drive thru menus, vending machines, and Reviews dining-in Menus.If you need Assistance in locating a Particular Coverages at a pre-Determined price, we 've can help save on health% 50 insurance .

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