Ten things to know about Obamacare
For this list I have to credit David Nather, an experienced journalist who wrote a book called The New Health Care System: Everything you need to know.
1. The law defines a new minimum of what insurance companies can offer in a plan. No “limited coverage plans”.
2. State-based health insurance exchanges should allow you access to alot more information with which to compare plans.
3. You will not ever be denied coverage for a pre-existing medical condition. Related to this:
4. They can’t charge you higher premiums just because you’re sick. They can charge a little more if you’re elderly, and they can charge you more if you smoke.
5. Insurance companies will be required to accept everyone who applies. They’ll also have to renew your coverage as long as you want it.
6. If a claim is denied, every state will be required to have an external review system whereby you can get a decision appealed.
7. Recissions will be banned. They can’t cancel your coverage if you get sick.
8. Insurance companies won’t be able to put a limit on how much they will pay in a year or over your lifetime.
9. A subsidy system will be set up to help low-income people get insurance. It is unclear as to how much they will pay and how much paperwork will be required to get the money.
10. YOUR PREMIUMS SHOULD NOT GO UP if you get your insurance thru your employer. They might go up if you get individual insurance but that’s because you won’t have the limited coverage option.
More to come on this. I highly recommend the book. See the links to the right.