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.

 

 

 

Find The Best Section 8 Homes & Rentals
Find The Best Section 8 Homes & Rentals Are you feeling a little frustrated searching for Section 8 homes and rental property? Below is a list of multiple Section 8 housing resources. These are not in any particular order. These are just eight very good resources...
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...
Helping Homelessness with Government Grants
 Poverty and homelessness in the United States and around the world is increasing on a daily basis. Here in the United States, rising housing costs and lower livable wages have been among the 2 biggest contributing factors. Lack of mental health facilities...
Disability Lawyers | Filing SSA Claims
According to the Social Security Administration, an average of 52% of applicants is rejected yearly. This only shows that the government is very serious in paying only those who deserve these benefits. So, it is important that social security disability...
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...
Government Grants Exposed
You and I have heard it all before, the man with the funny jacket on late night TV telling us that the United States government gives out over 30 Billion dollars in grants every year. And if we want any of that for ourselves, all we have to do is send him...
Lifeline Assistance Program
 There is now a program out there that can even help with your cell phone. The special government program called Lifeline Assistance that offers a free phone and minutes to those who qualify. Getting on the list is not very hard, but there are a few things...
Should You Consolidate Student Loans?
Should You Consolidate Student Loans? In order to make it through the years of school, students take on a lot of debt from various loans. Sometimes, these loans come from private lenders with higher interest rates and fewer protection. Most loans, however, are funded...
Walmart Owes Money
Wal-Mart is a nationally recognized big box store offering low prices for customers who have everyday needs. The store employs more than 1.2 million people, and many of them are currently in a situation in which they could receive a big payout from the company for...
How to Manage Credit Card Payments
Do you have issues paying off credit cards? Sometimes the interest itself can be an overwhelming monthly payment. We have gathered some information below from credit experts that can hopefully help you manage your payments and find a way out from under...
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...
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...
How To Find Good Insurance Companies
 Insurance is a part of life whether you’re looking to protect your life, home, or automobile. All insurance companies are not equal. Working with a good insurance company is just as, if not more, important as having coverage. Here are four things to keep...
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...
How Does Renting to Own Really Work?
 In the years leading up to the financial crisis of 2007-08, the renting to own model — in which tenants/buyers have an option to purchase the house or condo they’re renting from their landlord/seller— was mostly offered by individual homeowners. In the...
5 Ways to Keep Your House During A Market Crash
Anyone paying attention to the housing market in the Los Angeles area knows that home prices have been at record highs. National Mortgage News suggests that this could be a housing bubble about to burst, and a decline in home prices and an increase in mortgage...
Is Rent to Own Housing An Option?
Rent to own housing is a popular term that should be carefully considered. It can be an agreement between owner and seller to rent or lease a property until it is paid in full. The plan can work several different ways, some have zero deposits and no...
Readership Programs for Children
Readership Programs for Children The summer break may not always be beneficial to children. Studies show that children lose an average of one month of learning during the time off between school years. One way to counter this is to engross them in activities that...
Self Help Works Too!
Self-Help Works Too! Government assistance serves as a great safety net for a lot of people. Unemployment, SNAP, Social Security Disability, and other benefits operate as a great way to prevent total financial collapse following negative life events. However, each of...
Are Discount Stores Really A Bargain?
It seems like dollar stores and other various discount stores are becoming a common retailer in most areas. Can these discount stores really offer you a bargain or do they just sell poor quality items? In my opinion, there are plenty of great bargains to be found in...

The Premier Forex League

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 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!

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!

Pin It on Pinterest

Share This