Affordable Health Insurance Plans for Individuals, Families and Small Businesses

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Frequent Questions
Health Care Reform Provisions Timeline

On March 23, 2010, President Obama signed into law the Senate approved healthcare reform measure. The Reconciliation Act of 2010 was signed into law on March 30, 2010.

The following table answers a frequently asked question "When will the provisions of these laws take effect?"

$250 rebate to Medicare prescription drug beneficiaries who reach the coverage gap called "doughnut hole"	Within 1 year
Immediate access to high risk pools for people with no insurance due to pre-existing conditions	90 days after the enactment
Bar insurers from: Denying people coverage when they get sick, Denying coverage to children with pre-existing conditions, Imposing lifetime caps on coverage	6 months after the enactment
Requires insurers to allow young people to stay on their parents' policies until their 26th birthday regardless of marital or student status as long as they are not eligible for other employer coverage (children of these dependents are not eligible for coverage)	Plan years beginning on or after September 23, 2010
Require individual and small group market plans to spend 80% of premium dollars on medical services, and large group plans will be required to spend at least 85%	Plan years beginning on or after March 23, 2010
Increase Medicare payroll tax and expand to dividend, interest and other unearned income for single filers earning more than $200,000 and joint filers earning more than $250,000	Plan years beginning on or after 2013
Provide subsidies for families earning up to 400% of the poverty leve	Plan years beginning on or after January 1, 2014
Require most employers to provide coverage to employees or face penalties	Plan years beginning on or after January 1, 2014
Require most people to obtain coverage or face penalties	Plan years beginning on or after January 1, 2014
Create exchanges where people without employer coverage, as well as small businesses, can shop for health coverage	Plan years beginning on or after January 1, 2014
Impose 40% excise tax on high-end insurance policies	January 1, 2018
Expand health insurance coverage to 32 million people	By 2019

 

 

Sebeniecher Insurance Group | Phone: (410) 825-3569 | Email: contact@SebeniecherGroup.com