The Facts Behind Obamacare

Medicare Supplement Insurance Plans - The Facts Behind Obamacare

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The Affordable Care Act, also known as Obamacare, is one of the most polarizing political issues in American culture. Any way most people, on either side, know very minute about the actual details in the bill. Because the actual law is 906 pages long and covers wide fluctuating issues, we're only going to touch on a few of the key points of the law.

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Medicare Supplement Insurance Plans

Pre-Existing Conditions

Traditionally, any pre-existing condition has not been covered in the incommunicable guarnatee market. either an application will be out right rejected, or the plan's coverage will not contain the pre-existing condition. Now, due to the Affordable Care Act, any plan issued after March 23, 2010 can no longer deny or exclude coverage to children under the age of 19 that have a pre-existing condition. The law will be extensive in 2014 to contain citizen of all ages.

Until 2014, those with pre-existing conditions who have gone without condition guarnatee for at least 6 months will be eligible for a federal pre-existing condition guarnatee plan (Pcip). Many states already have a high risk pool to expand coverage to this group. The Pcip is available in those states that do not.

Expanded Coverage

Previously, guarnatee providers could remove children from condition plans at age 19, or once they were no longer full time students. The new law now requires guarnatee associates to cover children until age 26. Coverage is extended even if the child is married, not attending school and no longer a dependent. A child can now remain on a parents plan, so long as it is not a grandfathered plan, even if they are eligible for coverage under an employer.

Preventive Care

For those enrolled in boss condition plans, or incommunicable condition plans started after March 23, 2010, preventive condition services are now free of cost, but will not count towards deductibles or coinsurance.

These preventive care benefits cover a wide range of services. Screening and vaccines for pregnant women, as well as well-baby and well-child visits and disposition vaccines are now free. For adults, flu shots, many cancer screenings, blood pressure, cholesterol and diabetes tests are all covered free of charge. Additionally, counseling is now available for issues such as smoking, depression, weight loss and alcohol use.

Premium assistance Subsidies

In 2014 the federal government will be contribution essential subsidies towards the cost of personel and family condition guarnatee premiums purchased in the incommunicable market. The subsidies will be offered on a sliding scale based on income, maxing out at 400% of the poverty level, or almost ,000 for individuals and ,000 for a family of 4.

These subsidies will apply only to the premium. Consumers will still be responsible for co-pays, deductibles and coinsurance costs.

How Its Paid For

The government expects new earnings from a wide range of sources, only a few of which can be listed here. Many large employers whose employees receive premium assistance will be required to pay a penalty. Also, a penalty of up to 2.5% of each year earnings will be applied in 2016 to individuals who go without guarnatee coverage. In 2018 a 40% excise tax will be applied to high cost or "Cadillac" guarnatee plans sponsored by employers. Additionally an each year fee will be assessed to all condition guarnatee providers. About half the total funding is unbelievable to come from an increase in the Medicare tax for high earnings tax payers.

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