ObamaCare — aka Patient Protection and Affordable Care Act — aka PPACA — aka PeePeeCaCa — is about to launch the first round of big changes in health insurance plans in every state, every insurance company, every plan, every one.
No later than 9/23/10, there can be no lifetime limits on health plan coverage. This will apply to new policies you buy which go into effect 9/23/10 or later. For existing policies — the ones you bought before 9/23/10 — you probably won’t see any changes until 1/1/11.
No later than 9/23/10, all plans must include preventive care benefits at no cost to you, no co-pays, no deductibles. Again, for existing policies, you probably won’t see this new benefit until 1/1/11.
No later than 9/23/10, dependents can stay on their parent’s plans until age 26.
No later than 9/23/10, insurance companies better have a damn good, provable, reason to cancel (rescind) your individual policy.
No later than 9/23/10, the government had to create a high risk pool for people who cannot get individual insurance due to pre-existing conditions. The government did launch its website a couple of months ago. Twenty-nine states are not participating on the federal level, including CA. But these states must have their own high risk pool launched no later than 9/23/10. So far we have absolutely no idea what the insurance plans will cover or what they will cost. It’s all still a mystery.
No later than 9/23/10, insurance companies must cover pre-existing conditions for children through age 18. Interestingly, the PPACA does not say that an insurance company must insure a child with pre-ex conditions. The law only states that, if approved, a child’s pre-ex conditions must be covered. But, the insurance companies are complying with the intent of the law which was to provide health insurance — guaranteed — for children.
Sadly, the unintended consequence of this last provision is that many insurance companies are dropping their “child only” plans. The entire family will have to enroll — at a higher cost — in order to get coverage for their high risk child.
The Insurance Mom wants to give you a big heads-up (and a hug!) about where the price of insurance is likely to go once these changes happen. When the insurance companies are forced — aka mandated — to provide certain levels of benefits, you can guarantee the cost of those mandates is going to be passed along to you!
