Yes, we have the reasons plus additional facts that will help you understand this matter comprehensively. First it is important to understand what private health insurance policy cover entails. This policy is different from health risk management policy since premiums are used to any medical bills incurred the registered person in a private hospital only.
Background Information:
In United States there is a new state rule that requires all Americans to have a private health care insurance policy by January 1, 2014. However, not all citizens will pay the premiums. You will not pay the fees if you are incarcerated, a member of an Indian tribe, if you are an undocumented migrant, member of any religious group that does not agree with the benefits that can be derived from a health care insurance policy.
According to the new rules, the new insurance plans are supposed to provide at least ten different healthcare cover in order to suits all the clients’ needs. The type of policy that suits you best will be determined by your personal financial capability as well as health status. In order to be recognized as having enough health insurance coverage, you have to be a registered member in either bronze, silver, platinum or gold level in one of the legally accredited private health insurance companies. In addition, you may have to enroll in one of the public healthcare programs.
How it will be managed:
In a bid to ensure that all citizens abide this rule, there will be a fine that will be charged to all persons that do not document that they had access to reliable private health care cover in their 2014 tax return report. The annual fine is set at $47.5 per child and $95 per adult. Take note of the fact that the fine will keep increase as years go by if you fail to adhere to this rule. The government also plans to set up a new source of health insurance policies in each state. This will be an advanced online market place where persons who are not offered this insurance by their employers can buy a health insurance plan that is affordable and reliable. In addition, there will be a health insurance exchange program that is tailored to help persons and small business have the similar purchasing power as the large groups.
The benefits of implementing this rule:
One of the major benefits that will be derived from this improvement in provision of health care service by the government is that you will be entitled to new convenient legal rights. For example, the insurances companies will no longer have the capacity to limit or deny you some of the benefits. The tax credits will help in ensuring that the premiums are affordable for all. Hence, you will have no reason not to seek a health insurance policy from your selected or available insurance company. It is also important to embrace the fact that in March 2010, the government did pass a law that requires all insurance service providers to provide preventive healthcare service at no costs.
This is definitely another move by the government to safeguard your health.
Featured images:
License: Royalty Free or iStock source: freedigitalphotos.net
David Kauffee is a guest blogger. His interest in 2014 insurance changes led him to the Berwick Insurance Phoenix health insurance website.
