With so many insurance scams unfolding in the state, the credibility of health insurance companies in California has come under a cloud. And with the state agencies asking the residents to be careful about the carrier they choosing
Consumers never like to be forced to buy a product. Shopping should be fun and enjoyable. However,
when it comes to buying a health insurance policy, consumers find it difficult to make up their mind in the delighted mode—it is often a necessity. With the implementation of healthcare reforms, buying health insurance has become mandatory and obligatory; otherwise, consumers might face penalties.
On the flip side, the enforcers of this law are making sure that the consumers are extended better options and facilities to make them understand the need of buying a health insurance policy in present circumstances when healthcare costs are skyrocketing.
At such a juncture, we discuss some benefits that the residents of California will be able to enjoy with the implementation of healthcare reforms:
1. The healthcare reforms offer help to Medicare beneficiaries in California hitting the donut hole, or gap in Medicare Part D drug coverage. The new law continues to provide additional discounts for seniors on Medicare in the years ahead and closes the donut hole by 2020.
2. All Medicare enrolees in California will be provided preventive services, including colorectal cancer screenings, mammograms, and an annual wellness visit without copayments, coinsurance, or deductibles.
3. California has access to $761 million dollars to provide coverageto uninsured residents with pre-existing medical conditions through a new Pre-Existing Condition Insurance Plan program. This program will be converted to State Exchange in 2014.
4. Around 503,000 small businesses in California having fewer than 25 employees may qualify to avail tax credits for offering health insurance to their employees.
5. Children in California will be able to remain in their family health insurance policy as dependents till the age of 26 years. This is one of the best options that individual health insurance market could look forward to. The main benefit goes to students who won’t need to buy an independent health insurance policy.
6. For the very first time, California has the option of Federal Medicaid funding for coverage for all low-income populations, irrespective of age, disability, or family status.
7. Strengthening the rights of individual consumers, the healthcare reforms prohibit the insurance companies from placing a lifetime limit on the coverage they provide to the consumers.
8. Insurance companies will also not be allowed to drop the consumers from coverage when they get sick. This ensures that the consumers in California will not face dishonest insurance practices anymore.
Like this, we can count a lot of benefits that will be offered to the State of California and also to some other states. The healthcare industry is going to see a sea-like change in its dynamics and it is expected that the consumers will have the upper hand—in fact, the main objective of healthcare reforms is to make it easier for consumers to buy health insurance based on their needs and an affordable budget.
We, at our place, can easily comment that healthcare reforms bring a lot of positive changes for the consumers.
