If you’re uninsured under the new health care reform act, called the Affordable Care Act, now is the time to change that. In fact, by 2014, if you’re not insured, you will face penalties from the IRS. Yes, that’s right. The IRS will begin keeping track of whether or not people are insured through tax codes filed by your employer, your insurance company, or anyone else responsible for keeping track of your insurance status.
So, I know this sounds bad. But in reality, it’s not. Americans pay millions in taxes every year to fund the health care costs for people who are uninsured. Under the new health care reform act, we won’t be paying for other people’s medical bills.
The health care reform act also has many provisions in place to help people afford better coverage – which is part of the reason it is called the Affordable Care Act. The government will offer tax credits and subsidies to both individuals and small businesses so they can better afford health insurance. Plans will also begin providing more coverage, which means better bang for you buck.
Other benefits for getting insured as soon as possible:
-Children will be able to stay on their parent’s plans until they are 26 years old
-Children can no longer be turned down for preexisting conditions
-Coverage can’t be cancelled for people who become sick
-Temporary risk pools are set up for people with preexisting conditions
-Insurance companies can’t raise premiums without giving the government a really good reason why they are doing so
-The government will also offer financial help for early retirees
Here are some tips to finding insurance under the new health care reform act:
-Make sure the plans you are looking into reflect the new changes. If they don’t, look elsewhere.
-If you work for a small company, urge them to offer group health insurance for employees now while they can take advantage of tax credits.
-If you have a child with a preexisting condition, go for the family health insurance you want; they can’t turn you down anymore.
-If you have retiree health benefits, urge your former employer to look into “reinsurance” programs so they can get help paying your largest expenses.