POTUS Signs Healthcare Bill as the Law of the Land!
Matt | On 23, Mar 2010
Today marks the end of a long battle, nearly a century in the making, of healthcare reform. Despite the sometimes wacky opposition, attack ads, and seemingly mysterious opposition to portions of the bill, it is FINALLY THE LAW OF THE LAND.
POTUS and Vice President Biden were greeted to a rock star reception of about 300 people in the White House, made up almost entirely of Democrats and other supporters of the bill. The VP introduced the president and praised him for his leadership. The president then made remarks highlighting the importance of the day, thanked supporters and Congress, and then signed the legislation into law.
Here are a few notable changes that will take effect this year with the new law:
- Tax credits will be available to nearly 4 million small businesses to help them pay for health care.
- Tens of thousands of adults and parents of children with pre-existing conditions will be able to purchase insurance.
- Insurance companies will not be able to drop people because they get sick. Lifetime and annual limits are history! (I like this one…)
- Young people can stay on their parents insurance until their 27th birthday.
- Seniors get help closing the Medicare “doughnut hole” with a $250 credit. The “doughnut hole” is a gap between the Medicare limit for payment of prescription drugs and the amount that they will start paying for catastrophic coverage. It’s about a $3,000 difference.
In the next couple of years, look for the following:
- New insurance plans will be required to offer free annual prevention checkups with no copay. (2011)
- Mandatory coverage for all citizens, or else face a fine. (2014)
- Insurance exchanges in each state where private insurers will have to compete for your business. (2014)
Check out this CNN.com timeline for a DETAILED list of changes and additions to the healthcare industry. I encourage you to read the list thoroughly and familiarize yourself with this information.
For now, many of you can rest easier knowing that you have more security and access in your healthcare coverage. We are ecstatic here at Prune Juice Media, but we will DEFINITELY be moving on to other topics in the near future!!! lol…