We beat the insurance companies, and now the Affordable Health Care for America Act is the law of the land:
With the stroke of President Obama’s pen, his health care overhaul — the most sweeping social legislation enacted in decades — became law on Tuesday.
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The landmark bill, passed by the House on Sunday night by a vote of 219-212, will provide coverage to an estimated 30 million people who currently lack it.
While some of the benefits of the reform legislation will be phased in over the next few years, there are some benefits of the bill that will take effect immediately:
- Insurance companies will be barred from dropping people from coverage when they get sick. Lifetime coverage limits will be eliminated and annual limits are to be restricted.
- Insurers will be barred from excluding children for coverage because of pre-existing conditions.
- Young adults will be able to stay on their parents' health plans until the age of 26. Many health plans currently drop dependents from coverage when they turn 19 or finish college.
- Uninsured adults with a pre-existing conditions will be able to obtain health coverage through a new program that will expire once new insurance exchanges begin operating in 2014.
- A temporary reinsurance program is created to help companies maintain health coverage for early retirees between the ages of 55 and 64. This also expires in 2014.
- Medicare drug beneficiaries who fall into the "doughnut hole" coverage gap will get a $250 rebate. The bill eventually closes that gap which currently begins after $2,700 is spent on drugs. Coverage starts again after $6,154 is spent.
- A tax credit becomes available for some small businesses to help provide coverage for workers.
Read the rest of the benefits of the bill at this link.
Other news about the new national health care legislation:
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