hCentive Releases a Short Guide on the Impact of The Patient Protection and Affordable Care Act

Online, June 3, 2010 (Newswire.com) - Sterling, VA - June 01, 2010 - hCentive (www.hcentive.com), one of the leading online sources of health insurance for individuals, families and small businesses, today released a guide that helps consumers understand the impact of recently enacted healthcare law.
Various provisions of the law will come into effect over the next four years, including expanding Medicaid eligibility, subsidizing insurance premiums, providing incentives for businesses to provide health care benefits, prohibiting denial of coverage/claims based on pre-existing conditions, establishing health insurance exchanges, and support for medical research.
Changes effective immediately following enactment of the law
• A temporary small business tax credit is available for some small businesses who provide qualified health coverage. Small businesses are defined as businesses with no more than 25 employees and average wages of less then $50,000 per annum.
Changes effective by June 21, 2010
• A temporary high-risk pool will be created. Adults with a pre-existing condition will be eligible to join it. This pool will be superseded by the health care exchange in 2014.
Changes effective September 23, 2010
• Unlike the present age limit of 18 years, dependent children will be permitted to remain on their parents' insurance plan till the age of 26 years.
• Coverage would not be allowed to be denied to individuals below the age of 19 years because of any pre-existing medical conditions.
• No co-payment or deductibles will be allowed for Level A or Level B preventive care and medical screenings on all new insurance plans.
• Dropping the policyholders when they get sick will not be allowed.
Changes effective by January 1, 2011
• Insurance companies will be mandated to spend 85% of large-group and 80% of small-group plan premiums (with certain adjustments) on healthcare or to improve healthcare quality. If not, the difference will be offered as a rebate to the customers.
Changes effective by January 1, 2014
• No discrimination will be allowed because of pre-existing medical condition.
• No annual spending caps will be allowed.
• State health insurance exchanges for small businesses and individuals will open.