Much like our "Quick Note" on SCOTUS And The Health Care Law, there's a lot more to what what the Affordable Care Act already does - and what it will do, once it's fully implemented - than what we can we can fit into a simple article. That said, we do have a simple summary of the benefits of the ACA - both present and future - below.
Since the Affordable Care Act was signed into law in 2010, many benefits have already been put into practice. On September 23, 2010, the first major feature set of the ACA was activated, the 'Patient's Bill Of Rights'.
- No more rescission - meaning that insurance companies can no longer dump their policyholders when they get ill.
- No more denial for children (up to age 19) who have pre-existing conditions.
- Lifetime caps on coverage are eliminated, and annual caps began to phase out.
- Children up to age 26 are now allowed to stay on their parent's insurance.
- All new insurance plans are required to cover preventive care, including mammograms and colonoscopies, with no copays or deductibles.
- Closing the Medicare 'Donut hole' - meaning that seniors who are in the prescription drug coverage gap now get a 50% discount when buying Medicare Part D covered brand-name prescription drugs. By 2021, the donut hole will be closed completely.
- Free Preventive Care for Seniors, including annual wellness visits (checkups) and preventative services for seniors who have Medicare.
- Creation of an independent, private group, created to develop procedures that: extend the life of and viability of the Medicare system; target waste, fraud, and abuse; expand access to health care; and make it easier and less expensive for doctors to choose successful treatments for their patients.
- Addressing Overpayments to Big Insurance Companies and Strengthening Medicare Advantage.
- Encouraging a move from 'Fee for service' - where doctors and insurance companies are paid more for more procedures - towards a 'Fee for outcome' based model, where doctors and insurance companies are paid more for higher quality, lower cost care.
- Encouraging doctors, nurses, clinics, insurance companies, and drug companies to work together by forming “Accountable Care Organizations.”
- No denial of coverage for any American, for pre-existing conditions.
- All annual limits on coverage are eliminated.
- Afordable insurance exchanges become available. If your employer does not provide afforable insurance, you will be able to buy it on the regulated insurance exchanges.
- Insurance portability; if you change jobs, you will be able to keep your insurance plan, or move to a comparable plan from the exchange.
- Annual penalties begin, for those individuals who do not purchase health care insurance. Exemptions in cases of financial hardship or religious beliefs are permitted.
If you're looking for even more information on the Affordable Care Act - or on the related issue of the Supreme Court and the ACA - feel free to click on some of the related links, below.
Key Features of the Affordable Care Act, By Year
Two Years In, A Consumer Guide To Health Reform Law
Health reform at Two: Why American health care will never be the same
Obama touts new patient protections in health-care reform
Patient's Bill Of Rights Takes Effect, Providing New Consumer Health Protections
Losing Affordable Care Act protections would be tremendous loss
Accountable Care Organizations: Improving Care Coordination for People with Medicare
