To: RetiredNow who wrote (14509 ) 3/14/2010 7:38:47 PM From: i-node 1 Recommendation Read Replies (1) | Respond to 3. If you have been a dependent on your parents' plan, you can stay on that plan until you turn 26 (rules vary by state but many plans only cover young adults until 23 or 24); 4. Within six months of passage, your children cannot be denied insurance because of pre-existing conditions, and by 2014, no one can be denied because of pre-existing conditions; 5. The so-called "donut hole" in Medicare prescription drug coverage will be eliminated - at first, reduced by500 and then ultimately closed. (If you're on Medicare you know all about this complicated provision ...) 6. Insurers will have to spend a minimum of 80 to 85% of your monthly premium on actual medical services (not advertising, marketing, administrative costs). Why is that important? Because if you have tried to buy insurance as an individual, you may have noticed that, if you can get it, it costs a lot and the deductibles are often huge. Forcing insurers to pay out more for medical services (it's called the "medical loss ratio") is predicted to lower premiums nearly immediately. 7. Small businesses with fewer than 25 employees would get tax credits to encourage them to purchase insurance for their employees - it might help you if you work in one of those places. 8. Community health centers will get an immediate infusion of money from the government to help take care of people who need care but cannot afford it.
