The Facts Behind Obamacare
The Affordable Care Act, also known as Obamacare, is one of the most polarizing political issues in American culture. However most people, on whether side, know very microscopic about the actual details in the bill. Because the actual law is 906 pages long and covers wide ranging issues, we're only going to touch on a few of the key points of the law.
The Facts Behind Obamacare
Pre-Existing Conditions
Traditionally, any pre-existing condition has not been covered in the incommunicable guarnatee market. whether 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 habitancy 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 increase coverage to this group. The Pcip is ready in those states that do not.
Expanded Coverage
Previously, guarnatee providers could take off children from condition plans at age 19, or once they were no longer full time students. The new law now requires guarnatee clubs 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 manager 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 ready for issues such as smoking, depression, weight loss and alcohol use.
Premium aid Subsidies
In 2014 the federal government will be contribution significant subsidies towards the cost of personel and house 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 approximately ,000 for individuals and ,000 for a house 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 income from a wide range of sources, only a few of which can be listed here. Many large employers whose employees receive premium aid will be required to pay a penalty. Also, a penalty of up to 2.5% of each year income 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 thinkable, to come from an increase in the Medicare tax for high income tax payers.
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