Health Insurance Changes Affect All
We all know that President Obama just signed a new bill relating to healthcare reform
. This bill has been the subject of heavy controversy since it was first discussed. While many people support the new bill 100%, some think it was a huge mistake and others are simply unsure how the changes will affect their healthcare coverage. In this article, we wanted to address one of the questions that people are asking - how will the healthcare changes for the uninsured play out.The new healthcare reform took years for it to be signed into law last week. While the new law is now set, the manual that provides all the details for consumers, doctors, employers, and insurance companies will take 10 years to complete. After all, never in American history has such a reform been introduced and passed.
Therefore, putting all the 2,700 some pages into a comprehensive manual will take time. However, while that process occurs, people can still learn about changes, such as healthcare coverage for the employed.
In other words, by 2013, the yearly tax bill for families earning $1 million a year and more will increase by $46,000. While this is not a lot of money to the rich, it certainly raises the question as to why rich families are being held responsible for paying for middle-income and poor family health insurance coverage.
Changes to this governmental program will now include families that make under $29,000 and individuals making less than $14,400 annually, which is an increase over prior requirements. However, the healthcare changes for the uninsured will involve far more changes, again some good, some bad, and some questionable.
For instance, families with an income of $88,000 and less a year will be provided with more affordable healthcare options. In this case, monthly healthcare insurance premiums will have a cap that ranges from 2% to 9.5%, depending on total income. Previously, no cap existed so this is a major change. Another way in which healthcare changes for the uninsured will be different is that young adults will have the option of remaining on the parent's insurance to the age of 26, another big change.
One of the healthcare changes for the uninsured that everyone is having trouble with is the fines. If a person refused to purchase health insurance, an annual penalty of $95 would be due in the year 2014. However, probably one of the best changes that came out of President Obama's new bill is that people with pre-existing conditions cannot be denied coverage.
All of these new healthcare regulations will go into effect starting 2014 for adults but for children, they start six months to the day that the new Healthcare Reform Coverage was signed.
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