Please enable JavaScript.
Coggle requires JavaScript to display documents.
Affordable Care Act (Features of the Law (Insurance companies can't…
Affordable Care Act
Features of the Law
- Insurance companies can't deny coverage for those with a pre-existing condition.
-
- Once a parent's child is 26, the child is no longer under his or her parent's insurance plan.
-
- The new law created a $5 billion program to provide needed financial help for those who retire early.
-
- Someone and his or her family might be eligible for some preventive services with no cost.
-
2 Most Important Changes
- Insurance companies increasing premiums based on pre-existing conditions.
Why is this significant?
Because this could mean that people with pre-existing conditions will have to pay more for insurance coverage.
What does this mean?
These people may be unable to pay for their coverage or in fact, can lose coverage.
Since they're losing coverage, the insurance companies will charge their customers more.
Therefore, the insurance companies will get paid (even) more.
Because a lot of insurance companies can get paid more by increasing insurance coverage on those with pre-existing conditions.
- Insurers won't receive cost-sharing subsidies that helps customers pay their deductibles and co-payments.
Why is this significant?
Since some, if not many, people can't pay their entire co-payment, they can't be seen by the doctor.
What does this mean?
-
Also, they will eventually need to be treated because they're so sick.
However, they probably won't, if not at all, be treated by the doctor because they can't afford the hospital bill.
-
-