• No more denial of insurance because of pre-existing conditions.  This does not go into effect until 2014, but anyone who would like coverage now, can apply to the state to get temporary health insurance coverage.
• Insurance companies must get “OK” from the state government before raising premiums.
• Obama Care says that insurance companies must spend at least 80% of premiums on providing actual medical services.  If they spent it elsewhere (i.e. salaries or marketing), they have to pay it back to the policy holder.
• Most families will no longer have to make co-payments on wellness or pregnancy exams.
• If an insured member gets sick, they cannot be dropped from their plan.
• Parents can add their adult children, up to age 26, to their plans.
• If a child is chronically ill, a new insurance company cannot deny coverage for the child.
• Obama Care requires that 50 procedures recommended by the” U.S Preventative Services Task Force”, be covered as preventative services.    These include well-women visits, domestic violence screening, and support for breastfeeding equipment and contraception.
• Maternity and Newborn Care is categorized as preventative care, and must be provided at no cost.
• Though most plans currently provide services and devices to help with injuries, disabilities or chronic conditions, Obama Care will also cover goods and services  to help  maintain a standard of living if a person contracts a chronic disease.
• Obama Care plans cover 100% of preventative lab tests.  This does not include tests that have been ordered if a person has already been diagnosed with a disease.

A new era for health insurance is about to begin.  Talk to one of our insurance expert about your options

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Take Los Angeles as an example.  It is estimated that at least 20 percent of the population is living below the poverty level.    In a city of several million people, that is a considerable number of people who will not be able to afford health care for themselves, or their family.

What are lower income people going to do?

There is good news.  People with low to medium incomes may qualify for federal subsidies to help offset monthly premiums and deductibles.  Anyone earning 400% of the poverty line will be eligible for a subsidy which is up to $45,960 for an individual and $94,200 for a family of four.

The Kaiser Family Foundation estimates that 48% of Americans who buy individual insurance today would be eligible for subsidies.  They would receive an average of $5,540, which would cover 66% of the price.

Though premiums will vary significantly across the country, right now it is estimated that a 25 year old making 25k a year, will pay about $62 a month for health insurance.

Of course, the lower the income, the larger the subsidy for Obama Care.  For instance, let’s take someone who makes about $17,235 a year.  That individual will pay about 4% of their income, or $57a month.  A person who makes between $34,470 and $45,960 will pay a maximum of 9.5% of their income, or $364 a month.  The balance is covered by the federal government.  Anyone who earns above $45,960 a month will pay the full premium.

There are various subsidies available at various income levels.  When a person applies for Obama Care they can apply for an advance subsidy by estimating their income.

Call us and find out what subsidies you might be eligible for.

The post Don’t Have Money for Health Insurance? appeared first on Affordable Health Insurance.