Most people are very confused and over whelmed by Health Care Reform, wondering what changes are happening and when. Below is a timeline on the changes from now through 2018. I thought it would be easier to just take you year by year, starting with the present and what has changed so far. Each change will fit into a category of New Programs, Insurance Reform Changes, Coverage Mandates, Subsidies, Medicare Reforms and other info.
Starting October 2010:
-Dependent coverage up to age 26. – Mandated
-National Risk Pool- New Program
-$250 rebate for Medicare Members who reach the “donut hole”. – New Program
-No lifetime dollar limits. – Insurance Reform Change
Restricted yearly limits on the dollar value of certain benefits. – Insurance Reform Change
-No coverage Cancellations, except for Fraud or misrepresentation.- Insurance Reform Change
-No pre-existing exclusions for enrollees up to age 19. – Insurance Reform Change
-No cost-sharing obligations for preventive services in network.- Insurance Reform Change
2011:
-Start of Medicare Advantage cost-sharing limits.- Medicare Reform
-Medicare Advantage plans begin restructure of payments. – Medicare Reform
-Once Donut hole reached to get a 50% discount on Brand Name drugs. – Medicare Reform
-General Surgeons & Primary Care Doctors practicing in inner cities & rural areas get a 10% Medicare bonus. – Medicare Reform
-Increased funding for community Health Centers to provide care for many low-income/uninsured people. – New Program
-Excludes over-the-counter drug reimbursement through HSA & FSA plans. – Insurance Reform Change
-Employers can report the value of Health Care on employees W2 tax statements. – Insurance Reform Change
2012:
-New annual fees on pharmaceutical manufacturing sector.- Insurance Reform Change
-Hospitals with high rates of preventable readmissions face reduced Medicare Payments. – Health Reform Change
2013:
-Medical device manufacturers to have a 2.9% sales tax on devices, exemptions for some. Insurance Reform Change
-Individuals making $200k a year or couples making $250k will have higher Medicare Payroll tax of 2.35% on earned income, currently 1.45%. – Insurance Reform Change
-No more deductions for expenses allocable to Medicare Part D subsidy for employers who maintain prescription drug plans for their Medicare Part D Eligible retirees. – Insurance Reform Change
-Contributions to FSA limited to $2,500 a year.- Insurance Reform Change
2014
-New Taxes on Health Insurers. - Insurance Reform Change
-Pre-exsisting condition exclusions are prohibited. – Insurance Reform Change
-State individual & small group health insurance exchanges operational. – Insurance Reform Change
-No Lifetime or annual dollar limits for essential benefits. – Insurance Reform Change
-Individual affordability tax credits. – Coverage Mandate
-Expanded Small Business tax credits. - Coverage Mandate
2018:
New tax on employer-sponsored health plans that offer policies with generous coverage levels.
For any questions or comments please contact me.
