What Will Affect You

Saturday, July 31st, 2010 at 12:58 am

In the new health system of America:

Even if some things will be in effect starting 2014, eg: charging more for women than men for the same insurance policy. Some key changes became law this year.

Here’s what you need to know now:

♦ More services will be paid for in full. – from now on, policies will be required to cover checkups, vaccinations and preventive tests such as cancer screenings and others. You won’t be charged co-pays or out-of-pocket costs, and the services will be covered in full, regardless of any deductible you haven’t met.

♦ Kids with pre-existing conditions cannot be denied coverage. However, it’s not yet clear whether companies can charge higher premiums for children with prior health issues.

♦ Your children can stay on your policy until age 26. Before it was up to 18. Your bonus: peace of mind.

♦ Insurers have to spend more money on care. Eighty to 85% of company revenues must go toward health care (as opposed to, say marketing) And that may put money in your pocket. Starting in 2011, if they break the rules, the federal government can direct them to give you a rebate.

♦ Lifetime limits are history. Insurers will be prohibited from capping what they pay out.

(source: Sara Collins, Economist of the Commonwealth Fund and Kathleen Stoll, Family Public Relations USA)