New Healthcare Law « Health Insurance Advisory

Welcome to the New Healthcare Law Center and State News

new healthcare reform lawThe new healthcare law, called the Patient Protection and Affordable Care Act (PPACA), represents comprehensive healthcare reform legislation signed into law on March 23, 2010. It contains numerous provisions designed to protect consumers and promote low cost medical insurance, including many new taxes to pay for the cost.

In this section of the site, you can also obtain the following information specific to your state: available medical insurance options, efforts to regulate medical insurance premiums, healthcare, the individual medical insurance marketplace and the new healthcare law.

Our objective is to help Americans make sense of the new healthcare law by explaining key provisions in plain English and assisting individuals, families and the self-employed in using this information to find and secure affordable medical insurance.

Steeper Medicare expense cuts on horizon despite failure to reach deal

The inability of the congressional “Super Committee” to reach a deal automatically triggers a 2 percent across-the-board reduction in Medicare expenses, the government program that provides health insurance coverage to millions of older and disabled Americans. Slated to begin in 2013, the automatic Medicare expense cuts do not even represent a small dent in the U.S. healthcare industry, especially compared to the significant deficit reduction legislation of the past, such as the 1990s. The automatic cuts are likely to hit [...]

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Long Term Care Health Insurance Pulled from New Healthcare Law

The new healthcare law of 2010 contained a long term care health insurance program, called the “CLASS Act.” The plan is designed to give the disabled and elderly cash to receive care at home instead of usually more expensive institutional care. This is important because individual medical health insurance typically does not cover the cost of professional care rendered in the home. Health and Human Services shelved the long term care health insurance program because it was deemed financially unsustainable. Funding [...]

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Social Security Benefit Increase for Seniors- drugs, food and energy more expensive

Social Security recipients will be receiving an increase of 3.6% in benefits beginning in 2012. There are currently 55 million Social Security recipients. This is the first cost of living adjustment or “COLA” since 2009. The increase could provide a modest boost to consumer spending which may help the ailing economy. Automatic increases in Social Security benefits are tied to inflation, which was low during the past several years. In the last 12 months, rising prices were enough to justify the 3.6% increase. Many [...]

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Health Insurance Company 2011 Profits Exceed Expectations- MLR

This year is shaping up to be very profitable for the health insurance industry, as many medical insurance carriers are reporting better than expected profits. While the health insurance industry has always been very cyclical in terms of underwriting profits (what is leftover after collecting premiums and paying claims and administrative expenses) for most insurers, this year’s boost is attributable to the Great Recession. Individuals and families are simply cutting back on expenses to make ends meet, including healthcare. Several insurers, [...]

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Research Medical Insurance Rate Increases by Health Insurance Company

In a move to make medical insurance more affordable, the new healthcare law requires that all health insurance companies post their rate history on the federal government’s website. The goal is to create openness and transparency among health insurers. The site’s address is http://companyprofiles.healthcare.gov/. Consumers can now click their state to see a particular health insurance company’s rate history, including justification for doing so. “Prior to the new healthcare law that information was largely unavailable,” according to Steve Larsen, the Department of Health [...]

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Divided opinion on new healthcare law- uninsured seen to benefit most

Views on the new healthcare law, called the Patient Protection and Affordable Care Act (PPACA), remain divided and relatively unchanged since its passage on March 23, 2010 among all age groups, the insured and uninsured: 44% have an unfavorable view of the law 39% see the law as favorable 17% don’t know or are undecided While there has always been a partisan divide over the new healthcare law, it appears to be softening in recent months. In August, six in [...]

Read More » Authored by Pete S - Sr. Staff Writer in General Provisions - New Healthcare Law, Government Pre Existing Condition Insurance Plan, Premium Increases - New Healthcare Law | Comments Off

Supreme Court asked to hear individual medical insurance mandate

The cornerstone of the new healthcare law, the requirement that all Americans buy a medical insurance plan or pay a fine, is facing uncertainty. This provision, called the “individual medical insurance mandate” takes effect on January 2014 unless the Supreme Court rules it unconstitutional or it is repealed following next November’s presidential election. The Obama administration recently filed an appeal with the Supreme Court asking them to back the legislation. On the same day, 26 states and a major business [...]

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New law to promote affordable medical insurance- Will it work?

Health insurance companies are now required to post explanations of premium increases of 10% or more and submit them for review to state and federal regulators. This mandate is required by the new healthcare law. By requiring health insurance companies to justify premium increases, there is greater price transparency and increased public pressure to keep rates lower in order to avoid bad press. The new law still has a loophole though. Even if government officials consider the premium increase unjustified, the [...]

Read More » Authored by Pete S - Sr. Staff Writer in Alabama, Arizona, Arkansas, Colorado, Connecticut, Delaware, District of Columbia, Florida, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, New York, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, Premium Increases - New Healthcare Law, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, Washington, West Virginia, Wyoming | Comments Off

New Healthcare Law Mandate to Buy Medical Insurance- Is it Constitutional?

Is the new healthcare law constitutional regarding the mandate that Americans purchase medical insurance or pay a fine? The Thomas More Law Center has filed a petition asking the Supreme Court to review a recent decision by the Sixth Circuit U.S. Court of Appeals that upheld the constitutionality of the Patient Protection and Affordable Care Act (PPACA). The petition states: “Review is necessary to establish a meaningful limitation on congressional power under the Commerce Clause….If the Act (new healthcare law) is [...]

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Nevada Insurance Division taking feedback on medical insurance premium increases

The Insurance Division for the state of Nevada just announced it will be accepting feedback from consumers about premium increases on individual medical insurance plans and employer group health plans. The new healthcare, called the Patient Protection and Affordable Care Act, mandates health insurers publish proposed premium rate increases on the web so consumers can communicate their feelings about the rate hikes. For this purpose, the state Insurance Division installed a new section on its website to allow individuals and small employer [...]

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