Well I finally decided to start a blog. I am constantly asked questions about Health Insurance and Health Care reform. I figured if I was getting so many questions, it was really only the tip of the iceberg of people that didn’t understand the implications or the new laws. So … I decided to do the next best thing to standing on a street corner and shouting out answers … thus, here is my blog. This forum is the best way to disseminate information to my contacts, clients and friends.
With the recent election behind us, Health Care reform is here to stay. In fact the State of California has already created its Health Care Exchange called “Covered California”. So whether you like it or not, you as the consumer need to make sure you are well informed in order to navigate through these uncharted waters.
To start I am going to attach a timeline of what and when we can expect the new Health Care Act to be rolled out. As you can see 2014 is the year a majority of the plan goes into effect.
Medicare Tax – Affects individuals earning more than $200,000 and joint filers earning more than $250,000
Employer Requirement to Offer Minimum Essential Coverage (50+ Employees) – The new health care reform law does not require employers to offer health coverage to their employees. However, large employers will be subject to a penalty beginning in 2014 if they do not.
State-based Exchanges for Individuals and Small Groups – Exchanges established for individual and small group (1-100 employees or 1-50 employees, depending on state law.)
Benefit Waiting Periods – Prohibit waiting periods in excess of 90 days (including grandfathered plans)
Rating – Modified community rating for individual and family coverage in the small group market
Health Insurance Carriers – New fees imposed in health insurance carriers
Hope this answers some questions … more to come …