THURSDAY, FEBRUARY 27, 2014
You’ve probably noticed a change in price for healthcare polices, but what else has changed since the ACA took effect? Take a look at these five changes that are designed to benefit you:
- In the past, insurance companies could deny you coverage or suddenly drop you if you had a preexisting condition or fell ill during the course of coverage. They are no longer allowed to do this and must now cover all applicants. Approximately one in five adults under age 65 has a preexisting condition, which means that 20 percent more people are now eligible for coverage that may have not been an option before.
- In a similar discrimination, insurance companies previously charged women up to 40 percent more than men for the same health coverage, which sometimes excluded maternity care. Now the only factors that contribute to the cost of health insurance are your age, location and if you use tobacco products. In addition to fair pricing, healthcare must now include maternity care, breastfeeding supplies, bone density screenings, pap smears, mammograms, colonoscopies, birth control and more.
- You can now receive a host of preventative services for free, without co-payments even if you haven’t yet met your deductible. Free preventative care makes it easier than ever to stay on top of your good health and find/fix any issues before they become too severe. Visit your doctor for a free yearly physical, vaccinations, cholesterol and blood pressure screenings, mammograms, colonoscopies and much more.
- It’s no secret that work causes stress, and stress can lead to health problems. However, many employers are now being encouraged with grants to develop wellness programs in an effort to improve the overall wellness of workers across the country. In many instances, participants can receive discounts or rewards from their employer of up to 30 percent off the cost of their health insurance premium.
- In an effort to force insurance companies to do what they promise, they must now spend at least 80 percent of every premium dollar on customer medical care. This leaves only 20 percent for administration, advertising and all other costs. If that 20 percent is exceeded, insurance companies must reimburse that excess back to customers.
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