Health Care Reform
On March 23, 2010 President Barack Obama signed the landmark health reform bill into law. The bill provides more affordable health care and health coverage to an estimated 30 million people who currently lack it. It makes the health system sustainable and therefore helps support the economy, family budgets and the Federal budget.
Some of its key provisions that will take effect immediately include the tax credits to make employee coverage more affordable and insurance for American adults and children who are uninsured because of a pre‐existing condition.
The bill bans insurance companies from refusing its clients coverage when they get sick and provides a $250 rebate to Medicare beneficiaries who hit the “donut hole,” which is the initial coverage limit, in 2010.
Young adults are now allowed birthday to remain on their parents’ insurance policy until they are 26, if the parents choose. This would immensely benefit graduating college students.
Health insurance companies are now forbidden to place lifetime caps on coverage and due to a grant program to support States, are also required to submit confirmation for all requested premium increases. Health insurance companies with excessive premium exchanges may not be able to participate in the new Health Insurance Exchanges.
An individual’s eligibility for health coverage will no longer be based on his salary. It is now illegal to discriminate against low-wage workers, who are those working jobs that pay less than $10 per hour and do not offer insurance. Discrimination against low‐wage workers, who have had the least access to health care, is also banned.
The bill aims to increase funding for community health centers, which would double the number of patients cared for by the centers over the next five years and provide new investments created to increase the number of primary care practitioners, including doctors, nurses, nurse practitioners, and physician assistants.
These provisions intend to change the way Americans have perceived our health care system historically.
