September 25, 2022

Changes in Health Insurance Begin This Week

Health Insurance Changes

Health Insurance Changes This Week

Beginning this week you may notice some noteworthy changes in your health insurance policy due to the health care reform bill that was approved by Congress and signed by President Obama earlier in the year.

These changes will probably affect thousands of companies in the way that they pay for coverage and the amount you eventually fork out for your health insurance.

As of this week, health insurance companies may not place a monetary limit on benefits like hospital or lab services. In addition, coverage for dependents will be increased to age 26.

Another change: you will receive preventive care without any deductible or co-pay.

Even though this might seem like wonderful news, we may see another battle starting soon. That is due to the fact that these changes are going to cost money. And someone will have to pay for the new benefits.

“Of course all of those new benefits have additional costs that will be reflected in the cost of coverage,” said Robert Zirkelback, a representative of America’s Health Insurance Plans.

The question is, who is going to pay the increased bill? That is what’s being bounced to and fro between the health insurance industry and the Obama White House.

On one side are representatives from the insurance companies claiming that all of these changes must be reflected in the cost of insurance coverage.

For example, Blue Cross and Blue Shield of Illinois have already begun sending letters to their customers announcing premium increases of 13 percent.

As a result, the White House is informing insurance companies that they must justify any price increases with actual data and not simply blame the higher prices exclusively on the health care reform program. So now the question becomes whether insurance companies will retain the right to come up with their own analyses and pass the results on to their policy holders?

“Well, absolutely they have a right to communicate with their customers,” stated Secretary of Health and Human Services, Kathleen Sebelius. “We just want to make sure that communication is as accurate as possible.”

The Obama administration claims that health care reform will have a minimal impact on health insurance premiums.