The Affordable Care Act was passed in 2010, and new rules and stipulations are being phased in over time. Here is a look at some of the upcoming changes in the next 18 months, under the Affordable Care Act.
2013
October 1 — Open enrollment in the Health Insurance Marketplace Begins
Small businesses, as well as individuals who do not have an employer-sponsored health plan, or whose employer-sponsored health plans do not meet the requirements stipulated under the ACA, can begin enrolling for qualified plans within the health insurance marketplace.
2014
January 1 — Individuals Required to Carry Health Coverage
At the beginning of 2014, most individuals will be required to carry health insurance or face a penalty under the new law. Employers with more than 50 employees have been given an extension, until 2015, to offer their full-time employees health coverage.
January 1 — End of Pre-Existing Conditions and Gender Discrimination
As of the beginning of 2014, health insurance companies will not be allowed to deny coverage to applicants because of pre-existing conditions, nor will they be allowed to charge higher rates due to gender or health status.
January 1 — Elimination of Annual Limits on Insurance Coverage
New and existing group plans will be prohibited from imposing annual maximums on the amount of coverage an individual may receive.
January 1 — Guaranteed Coverage for Individuals Participating in Clinical Trials
Insurance companies will not be allowed to limit or cancel a person’s coverage who participates in clinical trials.
January 1 — Tax Credits
Individuals who make between 100% and 400% of the federal poverty level (FPL) may qualify for tax subsidies, if they aren’t eligible for other coverage. The tax credit will also be advanceable and refundable.
January 1 — Health Insurance Marketplace (Exchange)
Individuals whose employers do not offer insurance or that offer insurance that does not meet the specified standards of the ACA will be able to buy coverage through the insurance marketplace. Members of Congress will be getting their coverage through the marketplace, as well.
January 1 — Increase in the Small Business Tax Credit
The second phase of the small business tax credit for qualified non-profits and small businesses begins. The credit is up to 50% of the small business employer’s contribution toward employee’s health insurance, or 35% for non-profits.
January 1 — Increasing Access to Medicaid
Individuals who earn less than 133% of the FPL will qualify for Medicaid.
Benefit Packages has been helping individuals, seniors and businesses obtain comprehensive health and dental coverage, for decades. We will be an Covered California Exchange Certified agency and will be able to help you determine your best options for coverage, whether inside or outside the California health insurance exchange. Visit our website or call us toll free at 1-800-356-3615 for more information.