Peeking Into the Immediate Benefits of the Affordable Care Act for Virginia

Healthcare reforms or the Affordable Care Act, as it is officially known, brings a plethora of changes into the healthcare industry as a whole. Talking in specific terms, it addresses a lot of issues related to states, groups, strata and areas-overall, it is very much customized to cater to individual as well as collective needs of US citizens.

The obligations brought by this law provide many benefits to the consumers as well as business owners who are looking to extend medical insurance options to their employees. Some of them are immediately applicable, while the rest of them are available with a certain time line. In this article we consider the immediate benefits for the State of Virginia.

– Seniors in Virginia will be provided discounts for Medicare programs hitting the donut hole or gap in Medicare Part D drug coverage. The new law continues to provide additional discounts for seniors on Medicare in the years ahead and closes the donut hole by 2020.

– All Medicare enrolees in Virginia will be provided preventive services, including, colorectal cancer screenings, mammograms, and an annual wellness visit without copayments, coinsurance, or deductibles.

– Virginia has an access to $113 million federal dollars from the federal government to provide health insurance to uninsured residents with pre-existing medical conditions through a new Pre-Existing Condition Insurance Plan program. This program will be converted to the State Exchange in 2014.

– Small businesses with fewer than 25 employees may check their eligibility to avail tax credit for providing coverage to their employees. Around 14,400 small businesses in Virginia may qualify for this.

– Children would be allowed to stay in their family health insurance policy as dependents till the age of 26 years. This clause will have a direct impact on the purchase of student health insurance and also somewhat on individual health insurance.

– For the very first time, Virginia has the option of Federal Medicaid funding for coverage for all low-income populations, irrespective of age, disability, or family status.

– As consumers, Virginians will be benefited because the healthcare reforms prohibit the insurance companies from placing a life-time limit on the coverage they provide.

– Further, consumers cannot be removed from coverage when they get sick. This is, in fact, one of the most important factors contributing a lot to the individual health insurance market.

Like this, healthcare reforms bring a lot of benefits to the Virginians. However, it has its own obligations levied on the consumers because it mandates the purchase of health insurance by all the citizens. There is penalty for consumers who do not buy a health insurance to support their healthcare needs.

To talk independently, it seems that the pros and cons can easily be bulleted and we will find that there are more pros to their Act. The government is trying to facilitate the obligation of buying a health insurance policy by offering many options and opening new programs.

Peeking Into the Immediate Benefits of the Affordable Care Act for Virginia

Healthcare reforms or the Affordable Care Act, as it is officially known, brings a plethora of changes into the healthcare industry as a whole. Talking in specific terms, it addresses a lot of issues related to states, groups, strata and areas-overall, it is very much customized to cater to individual as well as collective needs of US citizens.

The obligations brought by this law provide many benefits to the consumers as well as business owners who are looking to extend medical insurance options to their employees. Some of them are immediately applicable, while the rest of them are available with a certain time line. In this article we consider the immediate benefits for the State of Virginia.

– Seniors in Virginia will be provided discounts for Medicare programs hitting the donut hole or gap in Medicare Part D drug coverage. The new law continues to provide additional discounts for seniors on Medicare in the years ahead and closes the donut hole by 2020.

– All Medicare enrolees in Virginia will be provided preventive services, including, colorectal cancer screenings, mammograms, and an annual wellness visit without copayments, coinsurance, or deductibles.

– Virginia has an access to $113 million federal dollars from the federal government to provide health insurance to uninsured residents with pre-existing medical conditions through a new Pre-Existing Condition Insurance Plan program. This program will be converted to the State Exchange in 2014.

– Small businesses with fewer than 25 employees may check their eligibility to avail tax credit for providing coverage to their employees. Around 14,400 small businesses in Virginia may qualify for this.

– Children would be allowed to stay in their family health insurance policy as dependents till the age of 26 years. This clause will have a direct impact on the purchase of student health insurance and also somewhat on individual health insurance.

– For the very first time, Virginia has the option of Federal Medicaid funding for coverage for all low-income populations, irrespective of age, disability, or family status.

– As consumers, Virginians will be benefited because the healthcare reforms prohibit the insurance companies from placing a life-time limit on the coverage they provide.

– Further, consumers cannot be removed from coverage when they get sick. This is, in fact, one of the most important factors contributing a lot to the individual health insurance market.

Like this, healthcare reforms bring a lot of benefits to the Virginians. However, it has its own obligations levied on the consumers because it mandates the purchase of health insurance by all the citizens. There is penalty for consumers who do not buy a health insurance to support their healthcare needs.

To talk independently, it seems that the pros and cons can easily be bulleted and we will find that there are more pros to their Act. The government is trying to facilitate the obligation of buying a health insurance policy by offering many options and opening new programs.

Impact of Healthcare Reforms on Health Insurance

The health insurance industry has been abuzz with the talk related to healthcare reforms and how it will impact various States’ functioning and whether it would bring some changes in regional laws. Talking about Virginia, the interest grows a bit more as Virginians are believed to be quite conscious about healthcare. Moreover, there is a large number of uninsured residents in Virginia-with the help of healthcare reforms, if insurance is offered to these uninsured Virginians, it would be remarkably brilliant effort.

Health plans in Virginia, like other states, is full of talks about children’s healthcare options and how to extend various plans to uninsured children in Virginia. According to a report, around 0.2 million children in Virginia are uninsured. Though Virginia enjoys lower rate of uninsured residents than the national average, still, it has been a matter of concern in the last few years. Though there are lots of companies in Virginia offering medical insurance, including, Aetna, American National, Anthem Blue Cross and Blue Shield, Assurant, CareFirst Blue Cross Blue Shield, Celtic, Golden Rule, Great American, Humana One, IAC, Kaiser Permanente, Patriot Health, Solera Dental, and UniCare etc. Still there is much that can be done when it comes to insurance in Virginia for children.

Talking about impact of healthcare reforms on children’s health coverage in Virginia, we got some points to note:

– The Act prohibits health insurers from excluding coverage of children because of a pre-existing condition. At the same time, it extends federal funding for the Children’s medical Insurance Program (CHIP) through September 30, 2015

– The Act increases the health care workforce including pediatricians, pediatric nurse practitioners, specialists in pediatrics, and pediatric oral health professionals. It is clear that children in Virginia will have access to high quality health care.

– The Act also mandates that the current state option to extend Medicaid coverage up to age 26 to foster children who have aged out of the foster care system.

– Childhood obesity is a major cause of concern. The Act provides $25 million in funding for the Childhood Obesity Demonstration Project.

– The Act also requires new insurance plans to cover prevention and wellness benefits and exempts these benefits from deductibles and other copay requirements.

Children were earlier allowed to stay in the family health coverage policy bought by their parents for the age up to 19 years. However, with the implementation of the healthcare reforms, children will be able to avail the option of staying in their family health policy till the age of 26 years. This clearly helps a lot of children in Virginia who are struggling with the health insurance options available to them. Students in Virginia are greatly helped by this new rule.