Health Insurance Coverage Changes | ACHA

by | Guides and Instructions, Health Insurance

Healthcare reform tends to be tricky and complex as it attempts to find a common ground that is beneficial for all people. Burdened by the political firestorms that surround it, the new healthcare bill approved by the House of Representatives will continue to change and adapt as it passes through the process of becoming law. Here are a few key components of the American Health Care Act (AHCA) in its current form that will likely affect you and your health insurance coverage.

Low Cost | Free Health Insurance Coverage!

 

Tax Credits | Health Insurance Coverage Changes

The Affordable Care Act (ACA), or Obamacare, uses several factors in determining tax credits, including income above or below the poverty line, age, the cost of plans available in the area, and what percentage of income the individual would spend on insurance. Enrollees with incomes over $47,500 are not eligible for subsidies. People with lower incomes tend to receive higher tax credits to offset the costs of healthcare.

The replacement bill proposes refundable tax credits based solely on age and income. The credits begin to phase out after an income of $75,000 for individuals and at $115,000 for joint filers. Individuals on Medicare, Medicaid, or other public health programs will not be eligible. In general, lower income families will receive less in the form of tax credits while higher income families will receive more.

Low Cost | Free Health Insurance Coverage

 

Tax cuts | Health Insurance Coverage Changes

Under Obamacare, those who refuse to participate in the healthcare system or in the online marketplaces are penalized in the form of a tax penalty. This mandate from Obamacare will no longer exist. Regardless of income, individuals and families will not be forced to pay a tax penalty for not participating in the marketplace or in the healthcare system.

 

Buying insurance

The online marketplaces set up by Obamacare will become non-existent. Without the tax penalties levied under the ACA, people will be encouraged to prohibit insurance companies from cutting them off. But, if healthcare is lost for a period of 63 days, insurance companies may charge up to a 30% penalty over a period of one year. Individuals and families will be required to seek out insurance on their own or through employers.

Pre-Existing Conditions and State Waivers

Much of the current debate over the AHCA has revolved around pre-existing conditions. Pre-existing conditions are those medical conditions that existed before the start of coverage. This includes health issues such as cancer, asthma, high blood pressure, surgeries, seizures, and acne as well as mental health issues such post-traumatic stress, postpartum depression, and behavioral disorders. Under Obamacare, people with pre-existing conditions could not be charged extra or be denied coverage. Everyone would receive the same coverage, regardless of these conditions. The AHCA seeks to keep that component with a notable change.
States may request waivers that allow insurance companies to opt out of all regulations and consumer protections that existed under Obamacare. This means that the elderly may be charged up to five times the amount of younger people who are covered. Essential health benefits (maternity care, mental health, prescriptions, etc.) will be no longer be required to be covered. Also, consumers may be charged more or denied coverage for pre-existing conditions.
In order to apply for the waiver, states must set up a pool for high-risk consumers up to $138 billion over ten years, but this amount would not be enough to provide full coverage for people with serious illnesses.

Low Cost | Free Health Insurance Coverage

 

Employer Coverage | Health Insurance Coverage Changes

Under Obamacare, employers are allowed to choose whichever state’s definition of essential health benefits they wish to abide by. This provision became meaningless with the nation-wide standardization of what qualified as an essential health benefit.
With the AHCA, a large employer in any state may use the essential health benefits definition used by a state that has gained a waiver in order to cut costs. Provisions for such benefits as prescription medication or mental healthcare may be scrapped to reduce costs if any waivered state chooses a definition that does not include those benefits. Though it is unlikely that many employers reduce essential benefits for fear of losing employees, they have the ability to do so.

 

Medicaid | Health Insurance Coverage Changes

Obamacare permitted the expansion of Medicaid so that states may allow for coverage of single, nondisabled adults slightly above the poverty line. The Federal government pays most of the cost in the expansion. This allowed 10 million additional people to enroll under the new requirements. Single adults with an income below $15,800 are currently eligible for Medicaid benefits. Many people join or leave the program as their income fluctuates.
The AHCA proposes cuts to the program that will equal up to $880 million dollars for the Federal government. States will not receive reimbursement for individuals leaving the program, so as people fluctuate out due to income, the allotted resources will dwindle and less people will be eligible.

Medicaid will change from an entitlement program to a grant program, meaning states will have the option of providing a set amount of money to the individual or receiving a set amount of money for all recipients in the state. As federal reimbursements to the states fade, the available resources for Medicaid will decrease. Fewer people will be eligible and fewer health concerns will be covered.

Low Cost | Free Health Insurance Coverage

 

Healthcare Summary | Health Insurance Coverage Changes

Healthcare may be complicated, but it is important for everyone to understand their coverage. Political rhetoric often gets in the way of a basic understanding on what the individual or family is entitled to. Under the proposed healthcare plan, some restrictions on insurance companies will be loosened and less people will be covered. Middle class and higher income families will see greater tax benefits and decreased premiums, but lower class families and the elderly will see their insurance costs rise or become ineligible for coverage. There will be changes to this bill before it is approved, so some of what has been discussed may change. The key takeaway should be that both Obamacare and the AHCA will provide different benefits and coverage for different people. Ensure that you find the coverage that is best for you and your family.

 

 

 

Best Credit Cards for Questionable Credit
Life does not always work out as planned. Sometimes, a gap in employment leads to a few missed payments, and eviction, or a repossessed vehicle. These things happen to most people. In order build credit back up, a credit card may help. Making regular...
Who Qualifies for VA Home Loans
For many veterans and their families, buying a home can be a difficult experience. Many veterans have little patience for the drawn out process of finding a loan, and others have not always had the best luck with credit. Fortunately, Veterans Affairs (VA) can help....
Best Way to Build Your Credit Rating
In today’s world, credit can be easily destroyed. If you are young and entering the adult world, you may not always understand how to maintain a great credit rating. Often, you do not qualify for a loan or credit card due to having no credit. Lapses in employment or...
Which Student Loan Repayment Options Work for You?
Which Student Loan Repayment Options Work for You? The student loan process can be tricky and difficult to understand. Students often overlook the process from the beginning of college until graduation, never realizing the impact of the loans until payment become due...
Examine Failures and Find Inspiration
How to Examine Failures and Use it as Inspiration Sometimes, when we fail, it can feel like the end of the world. None of us like to be told that we are doing something wrong. None of us like to experience setbacks in our plans. It can make us question our self-worth,...
You Can Save Money on Your Monthly Bills By Reading These Tips
When you add up the total cost of your monthly utility bills, you may be astounded by how expensive utilities can be. This may be particularly true during peak usage months in the height of summer and in the dead of winter. You and your family...
Car Loans Approved Today!
Drivers will be excited to hear that the cost of a vehicle has started a downward plunge making it even easier to get the car loans you have always wanted. According to predictions by GasBuddy, the average price for a gallon of gasoline is set to fall...
Positive Thinking Can Change Your Life
Positive Thinking Can Change Your Life Enthusiasm Is Positive Energy “No pessimist ever discovered the secret of the stars, or sailed to an uncharted land, or opened a new doorway for the human spirit.” - Helen Keller Enthusiasm is the sunshine of your mind’s garden....
Low Income Families and Educational Help
Low Income Families and Educational Help It is a common perception that only the most gifted students are eligible for grants and scholarships to get them through the final phases of their education, and this then gives rise to the popular thought that those residing...
How to Save Money on Your Kids Dental Bills
Your family budget might not extend as far as it used to. Still, you want your children to have healthy teeth and inexpensive kids dental bills. Learn how to save money on your kids dental.  Like Clean Teeth? Try the Dollar Brush!   Courtesy of Fox News Health...
How To Get A Work-From-Home Job and Earn $275 Per Day
How To Get A Work-From-Home Job & Earn $275 Per Day There are many advantages to working from home. There's no expensive and time-consuming commute, for example, and it's also possible to work from home while juggling other responsibilities. However, while many...
Applying and Making Phone Calls to Potential Employers
Applying and Making Phone Calls to Potential Employers Applying to Places Not Hiring: A Wise Move or Not? Are you in desperate need of a job? If you are currently unemployed or if you truly think that your current job is making you “crazy,” you may be due for a new...
Social Security Disability Benefits
Sometimes in life, events occur that prevent people from working in order to make a living. Accidents occur and illness strikes at the most inopportune moments. The Social Security Administration may be able to help. They provide disability benefits to...
Receiving $4000 in Home Rebates
 Are there any home improvements that you have been contemplating lately? Are you struggling to make ends meet already? Learn more about three Programs a that could help you and millions of homeowners qualify for a $4,000 rebate. These Are Very Tough...
The Best Self Help Gurus
In the world today, it is easy to come across scammers looking to take advantage of people in their weakest moments. The realm of self-help is no different. In fact, it can be much worse. Self-help scammers apply abstract concepts so that unsuspecting people will fork...
Unpaid Wages Recovery Guide
If you worked for it, then you should get all upaid wages. Everyday can be a struggle and still come up on the short end of the stick. That is why you may be frustrated when you are not paid the money you are owed. Fortunately, there are many steps that you can take...
Finding Employment with Job Searches
Finding Employment with Job Searches Sometimes, life hits Americans hard. With ups and downs in the economy, it may be difficult to maintain consistent employment over a long period of time. Fortunately, there are options to help find a new job or career. In the...
Government Assistance for Unemployment
Government Assistance for Unemployment Sometimes, life does not go as smoothly as planned. Fluctuations in the economy lead to periodic lay-offs. Sometimes, a company fails and workers find themselves out of work. Often, an employee and employer simply part ways after...
Home Improvement Grants
 Is your home desperate for repairs? Are you at your financial limits, broke...flat broke? Have you ever wondered how it would feel to have the government help you be able to afford these critical repairs? Help is possible through new home improvement...
How To Get Involved with Affiliate Marketing or Direct Sales
How To Get Involved with Affiliate Marketing or Direct Sales Life can busy and complicated. With increased costs in childcare, one parent must often stay at home to watch the kids while the other parent works. Or, as someone begins their adulthood, they may need...

Subscribe

Family Picnic

Enter Your Email for Best Results

Due to the overwhelming response, please enter your name and email to ensure the proper search results.

You Are On Your Way!

Family Picnic

Enter Your Name and Email for Best Results

Due to the overwhelming response, enter your email for best results. Look for your free ebooks from New Flex Career!

You Are On Your Way!

Family Picnic

Enter Your Email for Best Results

Due to the overwhelming response, please enter your name and email to ensure the proper search results.

You Are On Your Way!

Family Picnic

Enter Your Email for Best Results

Due to the overwhelming response, please enter your name and email to ensure the proper search results.

You Are On Your Way!

Family Picnic

Enter Your Email to Receive New Assistance Updates

Due to the overwhelming response, please enter your name and email to ensure proper results.

Thank You! You will now receive the latest assistance updates!

Pin It on Pinterest

The More You Share. The More We Can Help!

Share these posts & pages with friends!