Health Insurance coming... in 2014.

With the signing of the new Health Care reform legislature, many people have begun inquiring on cancelling current plans.  Unfortunately, they still have some time to wait until options are available.  By the end of the year these are a few changes that will be made, according to multiple sources:

1. Children will not be denied coverage due to pre-existing coverage.
2. There will also be no restrictions on lifetime benefits or plan limits.
3. Small business will be offered tax credits of up to 35 percent of premiums to help insure their employees.
4. Medicare beneficiaries will be given a rebate of $250 if they hit the prescription drug “donut hole” in 2010.

This isn’t the time to drop current coverage.  It is the time to find a plan that is affordable, so that when the bulk of reform takes shape in the next few years you will have an option available to you.  Those uninsured, when the time comes in 2014 to start finding coverage will have limited options through the federal options.  Not bad options, just nothing beyond what the government puts on the table.  Find a means to put other options on your table by finding a program that best fits your current needs.

COBRA Insurance: What it is.

The Consolidated Omnibus Budget Reconciliation Act (COBRA) was established in 1986 to solve gaps in health coverage to terminated employees under certain circumstances.  Mainly, it allows an employees who loses their health benefits the option to choose to continue group health benefits provided by their company group health plan for limited periods of time under certain circumstances such as voluntary or involuntary job loss, reduction in the hours worked, transition between jobs, death, divorce, and other life events. 


Qualified individuals may be required to pay the entire premium for coverage up to 102 percent of the cost to the plan, making once affordable health insurance seemingly a pocket-burner.  Unfortunately few can afford paying full premium on a major medical plan, which in turns steers them to supplemental coverage or a COBRA alternative.  


The type of qualifying event will determine who the qualified beneficiaries are and the amount of time that a plan must offer the health coverage to them under COBRA. A plan, at its discretion, may provide longer periods of continuation coverage.

Qualifying Events for Employees:

• Voluntary or involuntary termination of employment for reasons other than gross misconduct
• Reduction in the number of hours of employment

Qualifying Events for Spouses:

• Voluntary or involuntary termination of the covered employee's employment for any reason other than gross misconduct
• Reduction in the hours worked by the covered employee
• Covered employee's becoming entitled to Medicare
• Divorce or legal separation of the covered employee
• Death of the covered employee

Qualifying Events for Dependent Children:

• Loss of dependent child status under the plan rules
• Voluntary or involuntary termination of the covered employee's employment for any reason other than gross misconduct
• Reduction in the hours worked by the covered employee
• Covered employee's becoming entitled to Medicare
• Divorce or legal separation of the covered employee
• Death of the covered employee

Go to COBRA Insurance for more information or answers.

Premiums would rise; Tax credits honor the difference

Premiums would continue to rise even if the current reform is passed. What isn't being aknowledged in the statements that President Obama is stating about expanding premiums is the fact that the tax credits will be what saves. With annual premiums eventually leveling off, it is speculated that the tax credits would be the saving enabler.

With an estimated premium drop of $3,000, Obama stated that employers could place focus on the real issue: Salary increases.

The Associated Press: FACT CHECK: Premiums would rise under Obama plan

Decades of change acknowledged, but not all votes on hand...

With health care dominating headlines for the past nine months, it looks as if the trail head is approaching. President Obama made his third trip in the past week yesterday, while House Democrats continue to push for votes. In a bill that will spend over $100 billion dollars per year and wording not quite fitting for some, votes have been hard to persuade.

If passed, the changes would shock a system that has gone multiple decades without considerable changes. Outlining the ability to ensure 30 million currently uninsured American and banning refusal of coverage to those with pre-existing conditions highlights the controversial bill. Republicans condemn the bill harshly as a takeover bill that will lead to higher premiums and less consumer choice.

House heads toward close healthcare vote
| Reuters

Huge impact expected on Health Care; Regardless of outcome

The main question proceeding actual voting on any bill is:  Does the House have enough votes to pass the Senate bill and does the Senate have enough votes to pass the Reconciliation bill after that? When passing a reconciliation bill, only majority is needed. While this does enable easier passing of any legislation, it truly points out the lack of support at the Congressional level.

With President Obama postponing his out-of-country travels over the weekend, it is clear the push has begun. Through broadcasts on "Meet the Press" over the weekend, it became awfully clear that both sides are lacking votes. With the hypothetical deadline arriving, the President has made a clear statement that a decision must be given this week.

A Big Week for Health Care Reform: What Could Happen Next? - Political Hotsheet - CBS News

Senate approves COBRA subsidy

The U.S. Senate has approved a 15-month extension that will provide a 65% subsidy to those part of the Consolidated Omnibus Budget Reconciliation Act (COBRA).

As part of the 2009 stimulus package, the subsidy extension will exceed $130 billion in funding. The bill will "...help those who have been hit the hardest," says Sen. Reid (D-Nev).

Senate approves COBRA subsidy extension through end of 2010 | IFAwebnews

How does Short-Term Medical Insurance benefit?

Short Term Medical insurance is designed for people who need temporary health insurance coverage for up to 12 months. It has never been easier or faster to get health insurance. With easy-to-complete, online applications and next-day coverage, you aren't stressing the unknown. In a time when many are receiving the Cobra Subsidy, often those eligible aren't taking the additional step to see how else they may save. Of course, a 65% discount sounds great, but what if you could save even more?

Whether you are:

- Between Jobs

- Looking for an affordable COBRA insurance alternative

- Recent college graduate

- Temporary or seasonal employee

- Unemployed or laid-off

- Waiting for other health insurance

- Any temporary need of health coverage

A simple accident like a broken bone or torn muscle can cost thousands of dollars. Short Term Medical insurance is often highlighted by freedom to choose provider, but added access when utilizing an in-network provider. They also contain many benefits when hospitalized or simply getting a check-up. Options could also include co-pays or co-insurance rates. Don't fear the unknown when going through hard-enough times, be aware of all of your options.