Health life annuities disability dental and cash
benefits
Individuals, Families and Self
Employed
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Most of the provisions of the health care bill don't go into effect until 01/01/2014. I have listed in the chart below the provisions that become effective 09/23/2010
| SUMMARY OF NEAR-TERM REFORM PROVISIONS | |||||
|---|---|---|---|---|---|
| Unless otherwise noted, the provisions are effective for plan years that begin six months after enactment - September 23, 2010. | |||||
| Please note that this chart is not intended to be inclusive of all the new federal health care reform requirements. | |||||
| Explanation of Plans and Effective Dates | |||||
| •Grandfathered plans- Plans enrolled on or before March 23, 2010 | |||||
| •Plans sold between March 24, 2010 and September 22, 2010: Will be subject to new requirements | |||||
| on January 1, 2011 and January 1, 2014 | |||||
| •Plans sold after September 23, 2010: Must comply with new requirements effective September 23, 2010, and January 1, 2014 | |||||
| •Plans sold on or after January 1, 2014: Must comply with all new provisions | |||||
| Provision |
Summary of Provision |
Applies to Grandfathered Plans |
Applies to Non-grandfathered Plans |
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| Individual | Small Group | Individual | Small Group | ||
| Lifetime Limits | Prohibits lifetime dollar limits | Yes | Yes | Yes | Yes |
| Annual Maximums |
Prohibits annual
dollar limits * For individual plans, annual limits may be allowed based on what Health and Human Services deems reasonable. |
No | Yes | Yes* | Yes |
| Extension of Dependent Coverage |
Requires
insurance that provides coverage for dependent
adult children to continue until child turns 26 years of age * Only if child is not eligible to enroll in an eligible employer-sponsored plan |
Yes | Yes* | Yes | Yes |
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Prohibition of Pre-existing Condition Exclusions |
Prohibits the
imposition of pre-existing condition exclusions for enrollees who are under 19 years of age |
No | Yes | Yes | Yes |
| Rescissions & Cancellation of Coverage | Prohibits rescissions, except in the case of fraud or intentional misrepresentation, and requires prior notice to the enrollee for cancellations | Yes | Yes | Yes | Yes |
Bryce Grimsley
Cape Coral Insurance Center LLC
Licensed Insurance Agent
Licensed to sell
insurance in Florida Ohio and Indiana
239-357-6415
Fax 888-308-8394