|
It’s almost impossible to turn
on the TV, listen to the radio or read the paper
without hearing someone professing doom and gloom or
euphoria regarding health care reform.
Simply put, the beginning of
change to our health system is happening. No one
denies that it needs fixing and cost reduction, it
is just how to do it. How does this affect us, and
our clients now?
The following is a short
report of what will happen and when:
|
1. |
Starting this
year children may remain on their parent’s
policy until age 26.
a) This is
currently the law in Minnesota.
|
|
2. |
People with
pre-existing conditions will be eligible for a
high-risk insurance plan funded by the
government.
a) We
currently have Minnesota Comprehensive Health
Association (MCHA), so no change.
|
|
3. |
Small business
starting this year could qualify for a tax
credit of up to 35% of the new employee’s
premium.
|
|
4. |
Lifetime limits
could be discontinued.
a) Some
companies have no limit currently and others
have 5
million dollars.
|
|
5. |
Companies will
not be able to cancel the policyholder’s
coverage.
a) Minnesota
currently has guaranteed renewable coverage
that
cannot be cancelled.
|
|
6. |
Health plans
will be required to accept children with
pre-existing conditions.
|
|
7. |
Beginning in
2014, Insurance Exchanges will be established
and no pre-existing condition limitations
allowed on new applications. Medical
assistance would begin covering more high-risk
people.
|
|
8. |
In addition,
there are penalties beginning in 2014 for not
having insurance for individuals, and
penalties for groups not providing approved
coverage.
|
In effect, the immediate impact
is negligible for four years in Minnesota. We will
keep you posted as changes happen. Please call or
email us if you have any questions.
Jerry
Dock, CEO
Greenhaven Marketing
|
