August 14, 2013

Weekly RoundUp: Affordable Care Act

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As Illinois prepares for implementation of the new Affordable Healthcare Act, otherwise known as Obamacare, questions, criticism and confusion abound.

Governor Quinn’s administration created Healthcare Reform in Illinois – What it Means for You, stating that the “signing of the federal Affordable Care Act (ACA) provides Illinois with an opportunity to advance reforms that will ensure that we have a more efficient and cost-effective health care system.”

According to the Illinois.gov site, by 2014 nearly one million Illinoisans will become eligible for new health care coverage.

But critics say the new healthcare reform law has its share of challenges.

Read a weekly roundup of recent articles about the Affordable Care Act and how it might affect you.

 

Clearing Up Confusion About Health Reform’s Out-of-Pocket Protections – Illinois Health Matters

“Recent media coverage may have sown confusion about health reform’s requirement that health insurance plans cap how much consumers can pay out-of-pocket each year for medical care. The bottom line: for many plans, the protections will take effect as scheduled in 2014. Some plans will be able to wait an extra year to fully comply.”

 

It’s the Affordable Care Act. But What Is Affordable?– The New York Times

“Under the Affordable Care Act, if a company with 50 employees hopes to avoid the penalty in the so-called employer mandate, it is not enough to merely offer those workers health insurance. The insurance must be “affordable,” among other things, and the law is very specific about what affordable means: It means the employee’s share of the premium cannot exceed 9.5 percent of the employee’s household income.”

 

Study: Half who now buy own health plan to get aid – WAND TV News

“About half the people who now buy their own health insurance – and potentially would face higher premiums next year under President Barack Obama’s health care law – would qualify for federal tax credits to offset rate shock, according to a new private study.”