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HEALTH CARE Obama Care: What's in it for Me?

The recent changes in the health care industry in U.S. have many wondering what’s in it for them. Sunny Sethi explains. California Health Insurance.

The Good: Since the very beginning of President Obama’s

term, fixing the broken health care system was a high

priority for his administration. On March 23, 2010 he

signed a bill into law that could potentially change the

way the health services are delivered in the U.S. There is

a lot of confusion in the market as no one really

understands the full scope of the bill, things keep

changing in Washington almost on a weekly basis and

people like me who make living in the health care

industry are not sure what the future really holds for us.

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Here’s an explanation in

simple words so it makes

some sense.

Graduating Students: The

job market is tough for the

new college graduates.

Earlier, you had to be a full

time student if you wanted to

stay on your parents plan

after age 19. Also, you could

only stay on their plan till age

24. With new reform, an adult

child can stay on the parent’s

plan till they turn 26-years-

old, irrespective of whether

they are full time student or

not. That should provide some

relief to many families as their

children leave college and

hunt for jobs in a tight

market.

Rescinding Coverage: Insurance industry announced that

companies would honor a new ban on canceling the coverage of sick

policyholders. Many insurance companies were blamed that they

canceled coverage for sick policyholders. Even if the change is

designed to improve reputation, it is another indication that reform

is taking hold and benefiting Americans.

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Preventive Care (Annual

Physical):

All insurance companies now are

required to offer the preventive

services i.e. annual physical exams

and tests related to the physical

such as glucose, blood pressure,

cholesterol screening at no cost to

the insured. Be careful though as

some employers are allowed to opt

out of some of these benefits so

please check with your employer.

Guaranteed Child Only

Coverage: Children cannot be denied coverage any more. In the

past, children suffering from pre-existing conditions were not able

to get coverage in the individual market. This left children really

venerable and often they had to use the government plans or visit

emergency rooms as uninsured patients. Starting October 23, 2010,

a child applying for coverage cannot be denied for pre-existing

conditions. Unfortunately, for adults this law does not go into effect

till 2014.

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California Pre-Existing

Coverage Plan: The

State of California has

established a pre-existing

coverage insurance plan

(PCIP). The plan caters

to adults that have pre-

existing conditions and

cannot get coverage

elsewhere.

Small Business Health Tax Credit: Employers with fewer than 25

workers and an average salary of less than $50,000 can receive up

to 35% in tax credits. But some small employers say they are

reluctant to offer coverage because they fear the law might be

changed.

Some of you reading this might be thinking that it all sounds good

but what’s bad about this law? How does it affect my taxes or how

does it affect the already struggling economy of this country? All are

fair questions; unfortunately the answers will be quite

disappointing. I will talk about the bad in the next month’s issue.

If you want to know more about Health insurance in Bay Area

California free to call Mr. Sunny Sethi @888-704-8243 or visit our

Matrix Insurance Agency.