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Health Care Reform - FAQs:
The health care law does not require your sister to provide insurance. However, it will provide your sister with tax credits if she chooses to provide insurance to her employees.
A new small business health care tax credit provides a 35% tax credit on health premiums, with the credit increasing to 50% in 2014. Your sister’s restaurant is one of about 4 million firms that will be eligible for this tax credit.
Information for small employers is now available at: http://www.healthcare.gov/using-insurance/employers/small-business/index.html
No. There is not a so-called “employer mandate” in the legislation.
Employer information is now available at: http://www.healthcare.gov/news/factsheets/2011/08/small-business.html
No. In fact, small businesses get tax breaks for health insurance rather than tax increases under the law.
Learn More: Affordable Care Act offers tax credits and cost savings
Yes. The tax credit is designed to both support those small businesses that provide coverage today, as well as those that newly offer such coverage.
Learn more: Affordable Care Act offers tax credits and cost savings
Insurers are now required to permit children to stay on family policies until age 26. This applies to all plans in the individual market, new employer plans, and existing employer plans, unless your adult child has an offer of coverage through his or her employer. This requirement will take effect the next time your plan comes up for renewal.
Both married and unmarried adult children qualify for this dependent coverage.
Beginning in 2014, children up to age 26 can stay on their parent’s employer plan even if they have an offer of coverage through their employer.
Learn more about health care for young adults at: http://www.healthcare.gov/news/factsheets/2011/08/young-adults.html
It is illegal for health insurance companies that cover children to deny coverage to your child based on a pre-existing condition. This applies to all new employer plans, new plans in the individual market, and existing employer plans.
Learn More: Insurance Protections for Children in the Affordable Care Act
If you have been uninsured for six months and have a pre-existing condition, you now have access to health insurance that was not previously available to you.
A new program – known as the Pre-Existing Insurance Plan or PCIP – provides insurance for Americans who are uninsured and have a pre-existing condition. This program provides temporary protection for people with pre-existing conditions until 2014, when insurance companies can no longer deny you coverage based on your health.
For additional information, see: http://www.healthcare.gov/law/features/choices/pre-existing-condition-insurance-plan/index.html
Seniors will continue to have a choice when they turn 65 and beyond, to enroll in the traditional Medicare plan or to enroll in a Medicare HMO or Medicare Advantage Plan. Medicare Advantage plans will continue to offer services to beneficiaries.
Companies currently choose whether to offer Medicare Advantage plans. Some may make the business decision to exit the market, but nothing in health reform forces these plans to stop offering benefits and services.
Yes. Check with your insurance company to see if they will provide that coverage to you now. If not, watch for the special open enrollment period and sign up then.
No. There is no federal requirement compelling a plan or issuer to offer dependent coverage at this time. However, the vast majority of group health plans offer dependent coverage and many family policies exist in the individual market.
