So, Are We Better Off in Healthcare Now?
Of course, there are still many questions out there looming. Most changes are not scheduled to take effect until 2014. Until then, here’s an outline of what it means for you, your family, your business & your future explained in simpler terms and the timeline as it stands now.
- Small businesses who employ less than 25 employees and contribute over 50% of the employee only premiums may be eligible to receive a tax credit (from 2010-2013) of up to 35% of the premiums that you pay for each employee.
- Lifetime maximums will be a thing of the past, which means that your policy will pay an unlimited amount for any or all of your medical conditions.
- Children who are applying for coverage will no longer be denied for coverage due to a pre-existing condition.
- Dependent children will be able to stay on their parent’s plan until the age of 26.
- Preventative visits will be covered at 100%, which means no co-pay or deductible will be charged
- If you have Medicare and have reached your “donut hole” for prescriptions, you will be able to have your drugs refilled at a 50% discount.
- For H.S.A. account holders, you will no longer be reimbursed for non-medical expenses.
- Employers who implement a wellness program for their employees could receive funds to help continue the plan for up to 5 years.