Health Care Reform

As a benefits advisor, I'm pleased to take this opportunity to provide you with a

summary of the key components of the Health Care Reform Legislation and how it will impact you and your business.

Let's take a look at the changes beginning in 2010

First of all, if you're a small employer (with 10 or fewer full time employees, paying average annual wages of $25,000 or less) you may qualify for the maximum credit of 35% in 2010. Small employers with up to 25 full time employees, paying average annual wages of $50,000 or less may still qualify for a portion of this credit.

Next, if a health plan offers coverage for dependent children those plans must extend coverage to the dependent until age 26. Full time student status is no longer a requirement.

And furthermore, no child under age 19 can be denied coverage due pre-existing medical conditions (this change is scheduled to begin in the fall).

All new group and individual plans must provide coverage for preventative services. These will be covered without any deductibles or co-payments. This is scheduled to begin in the fall.

Health insurance companies are prohibited from placing lifetime caps on coverage. Insurance companies are further restricted with the use of annual limits on coverage in all new plans.

If you take early retirement the government will provide money to help employer health plans cover early retirees ages 55 through 64.

If you have a pre-existing condition and have been uninsured for at least six months, you'll be eligible to buy coverage through a temporary high risk program which limits what you'll be charged for out-of-pocket costs.

And finally, Medicare beneficiaries who fall into the Medicare part D coverage gap (also known as the donut hole) will receive a $250 rebate check sent directly to them from Medicare. And there's no application process necessary.

We're certain you'll continue to have questions about Health Care Reform as we move forward. Be sure to check with JCLIS.COM for the most up to date information available. Thank you.

Health Care Reform

By: J.C. Lewis

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