It’s the dawn of 2014, marked as the benchmark year for President Obama’s new health care law to begin taking effect. The piece of legislation is an overhaul of the current health care system, and because of that task, it can be a little overwhelming to fully understand. Fortunately, as trained Cardiologists, South Denver Cardiology has got you covered. While the Patient Protection and Affordable Care Act, or PPACA for short, is a hefty piece of legislation, we will attempt to give you the cliff-notes to help you get on your way to understanding how the new health care law will affect you this year.
1. Insurance companies are no longer allowed to deny coverage to individuals due to per-existing conditions. So essentially, if you are suffering from any sort of ailment before activating coverage, insurance companies can no longer legally use that as grounds for not covering you.
2. Insurance companies must begin following mandatory guidelines established by various congressional committees.
3. If you do not secure any form of health insurance, whether it be public or private, you must pay a fine. If your financial circumstances don’t allow you to afford any form of health insurance, government subsidies are being provided to help with the cost. This penalty can also be avoided if you can prove considerable financial hardship.
4. You can locate and compare health insurance on health insurance exchange websites catering to each individual state. This puts every insurance company in one, manageable place for individuals to learn about and select the best insurance policies for their needs. The websites do require enrollment to access, but setting up your account is free.
5. Medicaid eligibility has expanded to include families up to 133% of the federal poverty level.
6. The State Children’s Health Insurance Program (CHIP) enrollment process is now easier than before.
7. Medicare’s payment structure has been reformed from top to bottom, making it less of a tax burden on the economy.
8. Some states may opt out of the Medicare expansion, so check to make sure you’re eligible for Medicare in your own state.
How To Use This Information
There are a plethora of websites and articles out there that help to simplify the PPACA for individuals who simply don’t have the time necessary to read through the actual document. But if you are still having questions on the matter, be sure to ask your physician. Or contact your Denver cardiologists at South Denver Cardiology if you have any specific questions.