The following list is a summary of the changes folks will see because of the passage of Health Insurance Reform: (hat tip to Crooks and Liars)
Calendar year 2010
Tax credit assistanceSmall businesses are eligible for a 35% tax credit; non-profits may receive up to a 25% credit.
Medicare Part D "donut hole" begins to close. Seniors receive a $250 rebate for prescription expenses in excess of $2,830.00.
Adoption Credit Increases adoption credit by $1,000, makes it refundable, and extends the credit through the 2011 tax year
Health students' assistance - Expands student loan programs, scholarships and loan repayments for medical services students, also allows exclusions from gross incomes for health professionals serving in underserved areas.
March 23, 2010
Federal grants to states to implement consumer assistance for complaints
April 1, 2010
Medicaid - Allows states to opt to cover parents and childless adults up to 133% of the Federal Poverty Level and receive federal funds under the current (strengthened) formulas.
June 21, 2010
High Risk Pools open for uninsured people. It's my understanding that unlike current state high risk pools, the costs on these will be subsidized and calculated as a national pool, spreading costs and risks across a wider group.
Federal assistance for early retirees - helps companies continue insurance for employees age 55-64
July 1, 2010
The John Boehner Tanning Tax - 10% tax on amounts paid for indoor tanning services
September 23, 2010
Rescissions - Policies may not be rescinded when people get sick. This applies to all new and existing policies, whether through an employer or individual.
Lifetime Limits - All lifetime limits on policies are eliminated.
Annual Limits - All group and individual plans will have tight restrictions on annual benefit limits. There will be no annual benefit limits once the exchange comes online 1/1/2014.
Preventative - 100% coverage for preventative health services.
Improved claims appeal process.
October 1, 2010
Community Health Centers Funding to strengthen existing community health centers and begin new ones in all 50 states.
Primary Care Workforce expansion via additional funding for scholarships and student loans.
The above changes affect all of us. There are more changes this year that apply to those in specific situations. You can find them here.
