YOU ASK:

What are the benefits of the health care reform for those who have insurance?

WE ANSWER:

Even if naysayers that are against the health care reform bill are saying that the bill will drive insurance premiums up instead of decreasing it, it cannot be denied that those who already have insurance will benefit from the reforms.

Here are just some of them:

  • No cancellations. Insurance companies will not be able to arbitrarily cancel your policy because you got sick. There may also be times that even honest mistakes are used as a reason for cancelling your coverage.
  • Premiums based on age bracket and not on health. With the bill, insurance companies can't underwrite your policy based on your health status. Also, they cannot exclude pre-existing conditions from the coverage.
  • More choices. If you want to keep your plan, you get to do so. However, the bill allows you to have more alternatives to better and more comprehensive plans so you can also opt to move to a plan that fits your needs better.
  • No unreasonable limits. Lifetime limits on policies will be lifted, as well as unreasonable annual limits.
  • Premium controls. The bill will enable closer monitoring of premiums. Insurance companies can't just increase premiums - these increases must be announced to the public.

    Also, the insurance company cannot simply tack on their administrative expenses to the policy. They are limited to up to 25% of the premiums for non-medical expenses. If it is discovered that the insurance company has exceeded its limit, it will be required to refund this to their policyholders.

  • Extended coverage for children. Children are allowed to stay under your policy for as long as they are 26 years old and below.
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