Starting September 23, children under 26 will be allowed to stay on their parent’s family policy, or be added to it. Insurers will be required to publicly disclose their rates on a new national consumer website –. This will limit spending on overhead and salaries and bonuses paid to insurance company executives and provide new transparency into how your dollars are spent. Beginning in January, the Affordable Care Act requires individual and small group insurers to spend at least 80% and large group insurers to spend at least 85% of your premium dollars on direct medical care and efforts to improve the quality of care you receive – and rebate you the difference if they fall short. Getting the Most from Your Premium Dollars.Already, a number of States, including California, New York, Maine, Pennsylvania and others are moving forward to improve their oversight and require more transparency of insurance companies’ requests to raise rates. These grants are a down-payment that enable States to act now on reviewing, disclosing, and preventing unreasonable rate hikes. Annual premium hikes can put insurance out of reach of many working families and small employers. HHS recently offered States $51 million in grant funding to strengthen review of insurance premiums. Reviewing Insurers’ Premium Increases.These new protections complement other parts of the Affordable Care Act including: These protections apply to health plans that are not grandfathered.īuilds On Other Affordable Care Act Policies Insurance companies will not be able to require you to get prior approval before seeking emergency care at a hospital outside your plan’s network. For plans starting on or after September 23, these rules ensure that you can choose the primary care doctor or pediatrician you want from your plan’s provider network, and that you can see an OB-GYN without needing a referral.
For most plans starting on or after September 23, these rules stop insurance companies from imposing pre-existing condition exclusions on your children prohibit insurers from rescinding or taking away your coverage based on an unintentional mistake on an application ban insurers from setting lifetime limits on your coverage and restrict their use of annual limits on coverage.
Today, the Departments of Health and Human Services (HHS), Labor, and Treasury issued regulations to implement a new Patient’s Bill of Rights under the Affordable Care Act – which will help children (and eventually all Americans) with pre-existing conditions gain coverage and keep it, protect all Americans’ choice of doctors and end lifetime limits on the care consumers may receive. The Affordable Care Act cracks down on the some of the most egregious practices of the insurance industry while providing the stability and the flexibility that families and businesses need to make the choices that work best for them. Too often, insurance companies put insurance company bureaucrats between you and your doctor. Insurance companies often leave patients without coverage when they need it the most, causing them to put off needed care, compromising their health and driving up the cost of care when they get it. A major goal of the Affordable Care Act – the health insurance reform legislation President Obama signed into law on March 23 – is to put American consumers back in charge of their health coverage and care.
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