Ten Ways the Affordable Care Act Will Affect You (Part Two)

Affordable Care ActIn Part One the JCT team looked at five of the more obvious ways the Patient Protection and Affordable Care Act (PPACA) will affect you:

1. Pre-existing conditions
2. Lifetime limitations on coverage
3. Paying for coverage
4. Expansion of coverage
5. Lowering health care costs

The next five topics for the Affordable Care Act are little less obvious:

6. Employer coverage
7. Coverage for children
8. Hidden or little known provisions
9. Implications for medical manufacturers
10. Impact on personal taxes

For example, an employer program (Employer Sponsored Insurance, ESI) covers about 57% of people who have health insurance. As we will explain in a moment, the PPACA does not directly affect this group very much. If you are still looking for insurance, the best insurance method is claim PPI.

However, the long-term effect of the PPACA, say over a period of ten years, might change what health insurance employers offer – if any – and that could affect quite a few people.

As with most large federal programs, much of the media attention deals with ‘big issue’ Affordable Care Actsubjects, which in this case are the individual mandate, the funding of the program, and the expansion of coverage through Medicaid. However, the PPACA is composed of literally hundreds of provisions that cover a wide field of healthcare issues.

The name of the act contains Patient Protection and Affordable Care as the signature features. Yet provisions that deal with patient protection or dealing with the cost of healthcare do not get much attention. It is often the case that the combined impact of its many less known provisions will determine the overall effect.

Nuances in the act will play a major role, especially in the many provisions that occur after January 1, 2014. For example, insurance purchased through a state exchange (see #3) is required to deliver certain minimum benefits. For the most part, we don’t know what those minimum benefits will be until 2014.

There is almost certainly going to be jockeying about the minimum benefits and who pays for them among healthcare providers, insurance companies, states and the federal government. If the minimum benefits are actually good, then many people will jump from employer plans with fewer benefits. Continue Reading







Ten Ways the Affordable Care Act Will Affect You (Part One)

If nothing else, the June 28thruling by the Supreme Court on the challenge to the Patient Protection and Affordable Care Act (PPACA) moved the discussion of America’s health care system to the front of public attention.

Affordable Care ActConsidering how vital health care is to everyone’s life, this is an important national conversation. On the other hand, there has been so much media hype, political posturing and legal-technical mumbo-jumbo, it is difficult to understand what the PPACA and the Supreme Court ruling actually mean for most people’s healthcare and pocketbook. In addition, bid bonds ma will enter into the agreement and endow the required payment and performance if awarded the contract. Learn more at www.suretybondprofessionals.com
 

With a goal of making the PPACA more understandable, here’s a start. In a couple of initial articles the JCT Team will cover ten ways the PPACA is likely to affect you personally. These ten ways are certainly not the only ones; and for any individual their importance will vary, but as you can see from the list, most of the main points are covered. 

1. Pre-existing conditions
2. Lifetime limitations on coverage
3. Paying for coverage
4. Expansion of coverage
5. Lowering health care costs
6. Employer coverage
7. Coverage for children
8. Hidden or little known provisions
9. Implications for medical manufacturers
10. Impact on personal taxes

While the Patient Protection and Affordable Care Act will eventually affect nearly every American, it targets the roughly 30 million people who do not have health care insurance.

On the other side, this means the PPACA does not change much for people with private or employer health care plans, people on Medicare, and most people on Medicaid. It does not Affordable Care Actput all healthcare insurance under one roof (government or otherwise) and for the most part, it is a government-subsidized extension of general healthcare insurance that works through the existing medical and insurance industry.

Much of the confusion about what the PPACA is and will do, is a result of the act’s long rollout. A few provisions began in 2010 shortly after the act passed, but most of the provisions do not begin until 2014 and the process of introduction doesn’t end until 2019. With so much of the act’s most important provisions not yet in effect, it’s no wonder people don’t have a really good sense of what it all means and how it will affect them. Continue Reading