Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Healthcare reform update
Old 09-23-2010, 07:36 AM   #1
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,212
Healthcare reform update

Some provisions of healthcare reform are now going into effect today (more or less):

--Adult children up to age 26 now can get back on their parents plans;

--Plans are prohibited from placing lifetime limits on the dollar value of coverage;

--Plans can't rescind coverage except in cases of fraud;

--Plans cant deny children coverage based on pre-existing medical conditions or from including pre-existing condition exclusions for children;

--Annual limits on the dollar value of coverage are restricted(and eliminates annual limits in 2014);

--New health plans must implement an effective process for allowing consumers to appeal health plan decisions and must establish an external review process; and

--New health plans must provide at a minimum coverage without cost-sharing for preventive services rated A or B by the U.S. Preventive Services Task Force, recommended immunizations, preventive care for infants, children, and adolescents, and additional preventive care and screenings for women.

These changes apply to plan or policy years beginning on or after September 23, 2010 (annual limits eliminated in 2014)


A timeline for reform changes is here: Implementation Timeline - Kaiser Health Reform
__________________

__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 09-23-2010, 08:36 AM   #2
Recycles dryer sheets
Automatika's Avatar
 
Join Date: Sep 2010
Location: Lebanon, TN
Posts: 112
I wonder what the long term effects on the price of health insurance will be. I certainly don't see the price going down unless it is subsidized by the government, in which case taxes will have to be increased.
__________________

__________________
"If it didn't have bones in it, it wouldn't be crunchy now, would it?" -M. Python


Age 50, DW is 54, 1.4M split 25 Stock, 40 Mutual Funds, 25 Bonds, 5 Commodities, 5 REIT. Own Home, no debts.
Automatika is offline   Reply With Quote
Old 09-23-2010, 08:55 AM   #3
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,445
Quote:
Originally Posted by Martha View Post
Some provisions of healthcare reform are now going into effect today (more or less):

--Adult children up to age 26 now can get back on their parents plans;

--Plans are prohibited from placing lifetime limits on the dollar value of coverage;

--Plans can't rescind coverage except in cases of fraud;

--Plans cant deny children coverage based on pre-existing medical conditions or from including pre-existing condition exclusions for children;

--Annual limits on the dollar value of coverage are restricted(and eliminates annual limits in 2014);

--New health plans must implement an effective process for allowing consumers to appeal health plan decisions and must establish an external review process; and

--New health plans must provide at a minimum coverage without cost-sharing for preventive services rated A or B by the U.S. Preventive Services Task Force, recommended immunizations, preventive care for infants, children, and adolescents, and additional preventive care and screenings for women.

These changes apply to plan or policy years beginning on or after September 23, 2010 (annual limits eliminated in 2014)


A timeline for reform changes is here: Implementation Timeline - Kaiser Health Reform
Thanks for the update.
__________________
MichaelB is offline   Reply With Quote
Old 09-23-2010, 09:12 AM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
harley's Avatar
 
Join Date: May 2008
Location: Following the nice weather
Posts: 6,428
Quote:
Originally Posted by Martha View Post
Some provisions of healthcare reform are now going into effect today (more or less):

--Adult children up to age 26 now can get back on their parents plans;

--Plans are prohibited from placing lifetime limits on the dollar value of coverage;

--Plans can't rescind coverage except in cases of fraud;

--Plans cant deny children coverage based on pre-existing medical conditions or from including pre-existing condition exclusions for children;

--Annual limits on the dollar value of coverage are restricted(and eliminates annual limits in 2014);

--New health plans must implement an effective process for allowing consumers to appeal health plan decisions and must establish an external review process; and

--New health plans must provide at a minimum coverage without cost-sharing for preventive services rated A or B by the U.S. Preventive Services Task Force, recommended immunizations, preventive care for infants, children, and adolescents, and additional preventive care and screenings for women.

These changes apply to plan or policy years beginning on or after September 23, 2010 (annual limits eliminated in 2014)


A timeline for reform changes is here: Implementation Timeline - Kaiser Health Reform
And it's all working out as intended.

Big health insurers to stop selling new child-only policies - latimes.com
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Will Rogers, or maybe Sam Clemens
DW and I - FIREd at 50 (7/06), living off assets
harley is offline   Reply With Quote
Old 09-23-2010, 09:14 AM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 9,880
Let the political slugfest begin anew.
__________________
Yes, I have achieved work / life balance.
travelover is offline   Reply With Quote
Old 09-23-2010, 09:31 AM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
dex's Avatar
 
Join Date: Oct 2003
Posts: 5,105
Quote:
Originally Posted by Automatika View Post
I wonder what the long term effects on the price of health insurance will be. I certainly don't see the price going down unless it is subsidized by the government, in which case taxes will have to be increased.

Here is the sequence of events
1. Private health ins premiums go up for each mandated change
2. Individual and companies reduce or drop health ins.
3. Private health ins premiums go up for #2 - fewer people paying in
4. More people move to the Gov't plan.
5. Private heath ins. premiums go up for #4 - fewer people paying in
6. Number of private health ins companies decline.
7. Private heath ins. premiums go up for #6 - fewer ins. companies; less competition
8. People without any ins rely more upon hospital emergency rooms. Increasing costs for state and local government and insurance premiums - depending upon state.
9. Premiums and/or taxes go up for #8
10. Gov't plan becomes dominate plan in USA
11. People complain that Gov't plan too expensive; Gov't tries to keep premiums artificially low
10. Gov't cuts benefits to control costs and deficits. Taxes may increase.
12. Private health ins. becomes supplemental ins to inadequate Gov't Plan for those that can afford it. The premium goes up as gov't services decline.
__________________
Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
dex is offline   Reply With Quote
Old 09-23-2010, 09:36 AM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by Martha View Post
Some provisions of healthcare reform are now going into effect today (more or less):

--Adult children up to age 26 now can get back on their parents plans;

--Plans are prohibited from placing lifetime limits on the dollar value of coverage;

--Plans can't rescind coverage except in cases of fraud;

--Plans cant deny children coverage based on pre-existing medical conditions or from including pre-existing condition exclusions for children;

--Annual limits on the dollar value of coverage are restricted(and eliminates annual limits in 2014);

--New health plans must implement an effective process for allowing consumers to appeal health plan decisions and must establish an external review process; and

--New health plans must provide at a minimum coverage without cost-sharing for preventive services rated A or B by the U.S. Preventive Services Task Force, recommended immunizations, preventive care for infants, children, and adolescents, and additional preventive care and screenings for women.

These changes apply to plan or policy years beginning on or after September 23, 2010 (annual limits eliminated in 2014)


A timeline for reform changes is here: Implementation Timeline - Kaiser Health Reform
Ok with those changes, I guess the gruesome stuff comes later......
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 09-23-2010, 09:37 AM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by dex View Post
Here is the sequence of events
1. Private health ins premiums go up for each mandated change
2. Individual and companies reduce or drop health ins.
3. Private health ins premiums go up for #2 - fewer people paying in
4. More people move to the Gov't plan.
5. Private heath ins. premiums go up for #4 - fewer people paying in
6. Number of private health ins companies decline.
7. Private heath ins. premiums go up for #6 - fewer ins. companies; less competition
8. Gov't plan becomes dominate plan in USA
9. People complain that Gov't plan too expensive; Gov't tries to keep premiums artificially low
10. Gov't cuts benefits to control costs and deficits
11. Private health ins. becomes supplemental ins to inadequate Gov't Plan for those that can afford it.
12. Private heath ins companies provide full health ins for the rich.
You nailed it 100%!
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 09-23-2010, 09:44 AM   #9
Recycles dryer sheets
 
Join Date: Aug 2007
Posts: 401
Quote:
Originally Posted by travelover View Post
Let the political slugfest begin anew.
+1

why am I not surprised?
__________________
DallasGuy is offline   Reply With Quote
Old 09-23-2010, 09:50 AM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RonBoyd's Avatar
 
Join Date: Dec 2007
Location: Denver, Colorado
Posts: 5,280
An interesting graphic on the subject:

Op-Chart - The Health of Reform - Op-Chart - NYTimes.com
__________________
"It's tough to make predictions, especially when it involves the future." ~Attributed to many
"In theory, there is no difference between theory and practice. But, in practice, there is." ~(perhaps by) Yogi Berra
"Those who have knowledge, don't predict. Those who predict, don't have knowledge."~ Lau tzu
RonBoyd is offline   Reply With Quote
Old 09-23-2010, 10:03 AM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Sep 2005
Location: Northern IL
Posts: 18,278
Quote:
Originally Posted by Martha View Post
Some provisions of healthcare reform are now going into effect today (more or less):
Thanks for the update. One that may affect me is the children up to 26YO. When my son graduated, but didn't land a job with full medical for a while, I purchased a high deductible policy for him. It was pretty cheap (~$60/month), but it was a pain to fill out the application, and mostly I worried about a denial if we actually had to make a claim.

My daughter may be in that position when she graduates next year. So while this is good for me in one way, I do wonder what it will do to our costs, and I wish there was a high deductible option so that I could keep costs down (I don't believe there is one, but I could be mistaken).


Quote:
Originally Posted by travelover View Post
Let the political slugfest begin anew.
Isn't it a bit inflammatory to call out for the slugfest before it even happens?

Quote:
Originally Posted by DallasGuy View Post
+1

why am I not surprised?
I assume you are referring to dex's post? I don't see anything there that fits a political slugfest description - I think it's a pretty honest and objective view of what we will see. Those outcomes makes sense, based on what we know. I think you could point out any areas you disagree and present your case w/o stepping into a boxing ring. I for one would be interested in hearing an alternate view to what dex presented, if there is one.

-ERD50
__________________
ERD50 is offline   Reply With Quote
Old 09-23-2010, 10:05 AM   #12
Moderator Emeritus
Rich_by_the_Bay's Avatar
 
Join Date: Feb 2006
Location: San Francisco
Posts: 8,827
Quote:
Originally Posted by ERD50 View Post
Isn't it a bit inflammatory to call out for the slugfest before it even happens? ...

I assume you are referring to dex's post? I don't see anything there that fits a political slugfest description - I think it's a pretty honest and objective view of what we will see. Those outcomes makes sense, based on what we know. I think you could point out any areas you disagree and present your case w/o stepping into a boxing ring. I for one would be interested in hearing an alternate view to what dex presented, if there is one.
-ERD50
+1
__________________
Rich
San Francisco Area
ESR'd March 2010. FIRE'd January 2011.

As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
Rich_by_the_Bay is offline   Reply With Quote
Old 09-23-2010, 10:11 AM   #13
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
We can have a congent discussion of this, it has happened before...........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 09-23-2010, 10:11 AM   #14
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Sep 2005
Location: Northern IL
Posts: 18,278
Quote:
Originally Posted by Automatika View Post
I wonder what the long term effects on the price of health insurance will be. I certainly don't see the price going down unless it is subsidized by the government, in which case taxes will have to be increased.
A subsidy does not change the price of something, it only changes who is paying for it. I know you mentioned increased taxes, but I wanted to make that distinction regarding price.

If you peel the onion back a layer, that's not totally true. A subsidy will likely increase the price of something, as it artificially creates demand when you can purchase something and have somebody else pay the bill.

-ERD50
__________________
ERD50 is offline   Reply With Quote
Old 09-23-2010, 10:13 AM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RonBoyd's Avatar
 
Join Date: Dec 2007
Location: Denver, Colorado
Posts: 5,280
Medicare Advantage Rates Dip, Membership Grows; CMS Says Review Your 2011 Options

Quote:
The Medicare plan that was a key focus of health care reform – Medicare Advantage – will see an average price drop of one percent in 2011, according to an announcement yesterday by the Centers for Medicare & Medicaid Services (CMS). And, the agency added, participation in these plans is projected to increase by five percent.
Quote:
CMS Administrator Donald Berwick, M.D., added, "Despite the claims of some, Medicare Advantage remains strong and a robust option for millions of seniors who choose to enroll or stay in a participating plan today and in the future.

“The Affordable Care Act gave us new authority to negotiate with health plans in a competitive marketplace. As a result, our beneficiaries will save money and maintain their benefits."
__________________
"It's tough to make predictions, especially when it involves the future." ~Attributed to many
"In theory, there is no difference between theory and practice. But, in practice, there is." ~(perhaps by) Yogi Berra
"Those who have knowledge, don't predict. Those who predict, don't have knowledge."~ Lau tzu
RonBoyd is offline   Reply With Quote
Old 09-23-2010, 10:16 AM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by ERD50 View Post
A subsidy does not change the price of something, it only changes who is paying for it. I know you mentioned increased taxes, but I wanted to make that distinction regarding price.

If you peel the onion back a layer, that's not totally true. A subsidy will likely increase the price of something, as it artificially creates demand when you can purchase something and have somebody else pay the bill.
-ERD50
+1.................
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 09-23-2010, 10:31 AM   #17
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 9,880
Quote:
Originally Posted by ERD50 View Post
.................
Isn't it a bit inflammatory to call out for the slugfest before it even happens? ..........-ERD50
I don't think so - some here (hem) are too predictable.
__________________
Yes, I have achieved work / life balance.
travelover is offline   Reply With Quote
Old 09-23-2010, 10:41 AM   #18
Recycles dryer sheets
 
Join Date: Aug 2007
Posts: 401
Quote:
Originally Posted by ERD50 View Post
Thanks for the update. One that may affect me is the children up to 26YO. When my son graduated, but didn't land a job with full medical for a while, I purchased a high deductible policy for him. It was pretty cheap (~$60/month), but it was a pain to fill out the application, and mostly I worried about a denial if we actually had to make a claim.

My daughter may be in that position when she graduates next year. So while this is good for me in one way, I do wonder what it will do to our costs, and I wish there was a high deductible option so that I could keep costs down (I don't believe there is one, but I could be mistaken).




Isn't it a bit inflammatory to call out for the slugfest before it even happens?



I assume you are referring to dex's post? I don't see anything there that fits a political slugfest description - I think it's a pretty honest and objective view of what we will see. Those outcomes makes sense, based on what we know. I think you could point out any areas you disagree and present your case w/o stepping into a boxing ring. I for one would be interested in hearing an alternate view to what dex presented, if there is one.

-ERD50

Yeah, I'm referring to Dex's post. I decided awhile back to try very hard not to comment on items with my own political slant. Obviously, there are some people in this forum that don't try to do that. Fine, that's their choice. But don't try to deny that some people always seem to go THERE!
__________________
DallasGuy is offline   Reply With Quote
Old 09-23-2010, 10:41 AM   #19
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,212
Just passing along data, not into speculating today.

Another update:

Uninsured Rate Soars, 50+ Million Americans Without Coverage - Kaiser Health News

In a reflection of the battered economy, the number of people without health insurance rose sharply last year to 50.7 million — an all time high — according to data released Thursday by the Census Bureau.
That pushed the rate of uninsured Americans to 16.7 percent last year from 15.4 percent in 2008, when there were 46.3 million uninsured. It was one of the largest single year increases since the Census starting tracking the figure in 1987.

Nearly every demographic and geographic group posted a rise in the uninsured rate — with the exception of children, who remained stable at about 10 percent.


__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Old 09-23-2010, 10:46 AM   #20
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Brat's Avatar
 
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 5,914
The cost of care for the uninsured who become ill will be born by those who have insurance.
__________________

__________________
Duck bjorn.
Brat is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Healthcare Reform... What Next? chinaco FIRE Related Public Policy 40 01-31-2010 12:21 PM
Healthcare reform article Stevewc FIRE Related Public Policy 81 08-25-2009 11:21 AM
Healthcare reform - a wave of early retirees? FinanceGeek Health and Early Retirement 51 07-02-2009 06:12 PM
Retirees may worry about healthcare reform lightwaves FIRE and Money 10 06-20-2009 01:34 PM
Colorado Healthcare Reform - New Proposal mykidslovedogs Health and Early Retirement 9 06-06-2007 08:34 AM

 

 
All times are GMT -6. The time now is 02:44 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.