On Tuesday of this week, historic health care reform became law. As most people are aware, the more than 2,000 page law is extremely complex and is phased in over a period of several years. It goes without saying that Christians and political conservatives have much to object to in this new law (especially the abortion provisions, which are promised to be repealed). But since it has now passed, Christian Money wanted to uncover what the immediate benefits will be within the first year.
We support some elements of health insurance reform, such as provisions to make coverage more accessible for those with pre-existing conditions. There are still some very serious questions that need to be answered, such as how the United States Government will be able to afford to fund a program of this magnitude. The largest single funding source cited for this legislation is major cuts in Medicare funding. We are concerned about how this will affect our senior citizen population. Additionally, reports are that more than 15,000 IRS agents will be hired to enforce collection of fines levied on those that do not purchase government required insurance. Eighteen states have already announced lawsuits against the federal government that will be filed in the coming days, asserting that this legislation is a Constitutional violation of individual states’ rights per the 10th Amendment.
First Year Benefits:
1. Insurers Will Be Restricted From Denying Coverage To Children With Pre-Existing Conditions
2. Adults With Pre-Existing Conditions Will Be Able To Obtain Insurance Through A New Government Program
3. A New Program Will Provide Insurance For Early Retirees Between The Ages Of 55 and 64
4. Young Adults Can Stay On Their Parents Insurance Policy Until They Are 26 Years Old (must be considered a dependent child).
5. Insurance Companies Barred From Dropping People If They Become Sick
6. Lifetime Coverage Limits To Be Eliminated And Annual Limits Will Be Restricted
The White House has provided a series of videos outlining how the new law may affect people in a variety of situations. Of course, this may not be the most balanced presentation of the pros and the cons of the new law.
We remain committed to following the implementation of this legislation and providing a fair assessment of the benefits and drawbacks. Most of all, we will remain focused on bringing to your attention how you and your family may benefit under this new law.
Helping you make the most of God’s money!