Who Wins & Who Loses In The Healthcare Reform Bill

Posted by Tom Carolan on Tue, Apr 13, 2010 @ 02:12 PM

Consumers who have been following the yearlong healthcare debate are now left trying to decipher what healthcare reform means for them personally. Those who have no health insurance stand to benefit most. People in the lower income brackets now have much more security when it comes to healthcare. Other people reap fewer benefits.

Those Who Benefit From Healthcare Reform Are:

• Those who have pre-existing health issues that preclude them from individual private health insurance.
• People who cannot afford health insurance rates.
• Children who are dependent on their parents will be able to remain on their parents' insurance policy until the age of 26.
• Those who will buy policies from state-run insurers will see more competition in the new consumer driven marketplace specifically for those without insurance through their employer. Premiums for these policies would not exceed a pre-set percentage of income ranging from 3 to 9.5%.
• Those who have just missed the qualification for Medicaid will likely qualify for it following the implementation of the new law.
• Those who start a business, lose or quit a job will have secure, affordable healthcare.
• Those who fall into the Medicare prescription drug plan's doughnut hole will get an immediate $250 rebate, as well as a 50% discount off brand name drugs starting in 2011.

Those Who Do Not Benefit From The Healthcare Reform Are:

• Individuals who are forced to take out policies whether they want to or not. Penalties will be charged for those who do not.
• Wealthy families who will have to pay higher taxes to help fund this program.
• Employers who have to provide health insurance plans for their employees starting in 2014.

The people who will see little change in their healthcare are those who already have their own policies through work. Everyone will see some benefits such as tighter regulations for insurance companies. As early as 6 months following the enactment of this law, insurers will no longer be able to limit lifetime payouts for medical claims. They would also not be able to cancel a policy because the policyholder is sick.

Some things are still unclear such as whether or not the new bill will affect the rising cost of premiums and out-of-pocket charges. However overall it seems to be a positive bill that will help many. Expect to pay higher premiums or receive fewer benefits in exchange for the upside.