Health Insurance Reform Fast Facts
Consumer Protections
- No Discrimination for Pre-Existing Conditions
- No Exorbitant Out-of-Pocket Expenses, Deductibles or Co-Pays
- No Cost-Sharing for Preventive Care
- No Dropping of Coverage for Seriously Ill
- No Gender Discrimination
- No Annual or Lifetime Caps on Coverage
- Extended Coverage for Young Adults Under Family Policies
- Guaranteed Insurance Renewal
Health Insurance Exchange
- A marketplace for individuals and small businesses to shop for plans best suited to their budgets
- Exchange-eligible plans include all consumer protections
- The government will offer a basic plan as an option on the exchange (the “public option”) It must meet the same requirements as insurance company offerings.
Small Business Protections
- Tax credits for small businesses providing insurance to employees and their families
- Businesses with up to 10 employees and less than $500,000 in total payroll may choose to allow their employees to purchase individual and family policies through the insurance exchange with no penalty or tax burden.
Affordability
- Government subsidies for families earning up to 4x the federal poverty level to help with the cost of insurance.
- Tax credits for small businesses to assist with covering employees.
- Establishes basic plan requirements: Plans must cover preventive, doctor’s visits, surgical, hospital, Rx, laboratory and clinical. (see consumer protections)
(Note: This is compiled from information available at the time of publication, including bills reported out but not reconciled from the Senate and House)