There’s only a few months left until Indiana health insurance is redefined with the implementation of Indiana Obamacare. And these changes will affect nearly everyone, but in different ways. The problem is that health insurance is already such a complex topic, so it’s difficult to know what big changes to wait for and if they will directly affect you. We’ve outlined the top 10 changes that will result from Indiana Obamacare come 2014.
10. Insurance for everyone…
The Affordable Care Act is estimated to provide coverage to about 34 million uninsured Americans. These individuals include those without private or employer-sponsored coverage, as well as families who do not have coverage extended to them.
9. …And they mean everyone
Insurance will no longer be a perk. It will be mandatory. Failing to purchase insurance will mean financial penalties on a sliding scale through 2016. This means that not having insurance will cost more and more the longer you go without it.
8. Stronger Medicare
The elderly and disabled no longer have to worry about receiving the care they need. Indiana Obamacare seeks to help these two groups in the Hoosier state by strengthening the program with cost cutting, free preventative services and fraud protection.
7. Protecting tomorrow’s leaders
Young adults can remove a suitcase from the stress baggage that comes with job hunting. Now, children can stay on their parent’s health insurance until they turn 26 or receive insurance from a job.
6. Insurance company transparency
A main component of Obamacare is making sure insurance companies are more accountable to the people they claim to protect. Therefore, they need to be more transparent about insurance policies and procedures and make it easier for people to dispute decisions. There are now new rules for internal and external appeals following a denial of a claim.
5. Your money, your care
The quality of care insurance companies provide will increase with the 80/20 rule, which limits how much of a premium dollar an insurer can spend on things other than health care. This means that more of your money will go directly towards providing you with the care you need.
4. Sick? No problem
When Indiana Obamacare is in effect, insurance companies will not be able to deny anyone coverage even if they have pre-existing conditions. 17.6 million children won’t be able to be denied coverage if they have a pre-existing medical condition.
3. Minimum coverage
Obamacare mandates minimum essential coverage for Americans, but also requires essential health benefits for many insurance plans. Essential health benefits are a list of services that patients have a right to receive, such as maternity and newborn care and hospitalization services.
2. No illegitimate coverage cancellations
In the past, insurance companies were able to cancel coverage because of an innocent mistake on an insurance application. Although plans can still void coverage for intentional falsities, innocent mistakes are immune from punishment and companies must give 30 days notice before rescinding coverage. Customers can appeal their decision.
1. Consumer Assistance Programs
To answer questions about Obamacare, there will be consumer assistance programs in many states. These CAPs will help consumers file complaints and appeals, enroll in health coverage and receive information about rights and responsibilities.
For more information about Indiana Obamacare, contact an agent at Acceptable Answers today!