Health Care Reform

Covered California is the new health insurance exchange or marketplace  which will show all what coverage is offered and whether one will be eligible for tax credits.

There will be four plans offered. Bronze plan which covers all claims at  60%, Silver at 70% Gold at 80% and the Platinum at 90%.

Every plan whether it be private carrier or exchange must cover 10 essential benefits as follows. Hospitalization, Emergency Services, Maternity/ newborn care, Mental health and Substance abuse services, Prescription coverage,Physical therapy, Lab services, Preventative coverage and Pediatric services

The exchange will be open for business on October 1, 2013 and coverage will be effective on January 1 2014.

The biggest advantage with the Ca health insurance exchange will be it’s guarantee of coverage for all, no matter what pre existing conditions exist. For many years many were locked out of purchasing health coverage because of health conditions.

As for rates,  people over 40 will pay less and younger people will more. This will happen because the carriers presently charge fives times more for a 60 year old than a 20 year old. With the exchange it will be 3  times more for a 60 year old versus a 20 year old.The unknown are premiums.

The only down side will be the limited networks rumored to be in exchange. In order to understand the tax credits eligible for some, it’s very important to have  professional advise.

I am enthusiastic about the monumental changes coming.

 

 

 

The rates will be available October of 12013

 

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