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.

 

 

 

Affordable Housing Problems
On 1st Street in Santa Ana — not far from where authorities recently cleared a tent encampment along the Santa Ana River near Angel Stadium — developer Caleb Roope wants to build nearly 1,000 apartments that will be affordable for low-income seniors and...
How The New Budget will Impact SNAP
How The New Budget will Impact SNAP  The Supplemental Nutrition Assistance Program (SNAP) assists lower-income families to purchase food in order to prevent hunger. The program also provides economic benefits to communities. The proposed budget for 2018...
Accepting Failure | Achieve Success
Everybody has a setback every once in a while, but it doesn’t mean that there is anything wrong with you. In fact, accepting failure can be a great opportunity to learn your own limitations and boundaries, then push through them, and provide you with a...
Social Security Benefits & Retirement
Though all Americans look forward to the day when they can kick back in a lawn chair and spend time working in their flower gardens, retirement comes with many burdens. A fixed income or access to a 401(k) may not be enough to supplement the lifestyle many seniors are...
Health Insurance Coverage Changes | ACHA
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...
Relief Resources and Benefits Gov
 Let's begin with this. No One Is Guaranteed Government Assistance Just For Existing. That being said, Government aid can be very helpful to those enduring a financial struggle or hardship. It can also be beneficial for those looking to attain a higher...
HARP Eligibility and Assistance
 If your mortgage is making your financial life more difficult than you expected, you can get assistance through a program called HARP (Home Affordable Refinance Program). HARP eligibility is easy to determine as there are several factors that can affect...
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...
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...
Five Great Resources for Working from Home
 There have been thousands of people watching “Good Morning America” who have sent us messages thanking us for helping them make the money while working from home. For anyone who hasn’t yet taken the leap forward but feel as though you might be ready,...
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...
The Facts You Need to Know About Payday Cash Advances
If you need money, it can feel as if there is no one to help you. It may feel like you're up a creek without a paddle. Luckily, you can get payday cash advances to help you out. Research all companies that you are considering. Find a lender that fits you...
Run A Background Check When Applying for Jobs!
 Social media is everywhere in the air around us today. Hence it is natural for you to assume you can handpick and choose what you want your employees to see. Most people therefore imagine that once they clean up their Facebook wall and delete those...
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...
Social Security Disability Benefit Application Help
 There are several advantages to applying for Social Security Benefits online. There is no need for an appointment and it will definitely save you time. Visitng your local Social Security Office can be very time consuming and frustrating. Read the...
Best and Worst Student Loan Services
Best and Worst Student Loan Services This is the time of year when hundreds of thousands of Americans begin to prepare for their first semester in college. They begin to seek out the items that will sustain them during dorm life. Parents spend money on new sheets, hot...
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,...
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 World of Federal Grants
Welcome To The Wonderful World Of Federal Grants Federal Grants - If you are planning to go to college or university but know that you would never be able to afford it on your own, or with the help of your family for that matter, one of the first places...
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...

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 ebook from New Flex Career about finding unclaimed money!

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!

Pin It on Pinterest

The More You Share. The More We Can Help!

Share these posts & pages with friends!