Proposed changes are moving forward to make several substantial changes to the Affordable Care Act… but not without much deliberation and pushback by both parties on a variety of topics. What some are calling “Obamacare Lite”, the latest ideas are the following:
Children will still be allowed to be covered by their parents up to age 26.
Insurers will still not have the ability to deny a person coverage due to preexisting conditions.
The existing penalty for not having health insurance would go away. There is a proposed penalty in terms of higher premiums (as much as 30%) for people who purchase insurance while they are ill, and will be required to have continuous coverage for an extended period of time to avoid costly premiums.
Tax credits based on age and income are being considered.
The new plan would prohibit federal funding to Planned Parenthood.
Note: These proposals are just that … proposals. They have not been placed into effect and we plan to keep you up to date as changes in this ever evolving process.
Sources: The Hartford Courant and Employee Benefit Adviser