HR3590 Health Care Bill & Government Health Insurance

There is a long road ahead for the implementation of the new health care reform law, and while progress has been made the journey has just begun. But what is there to look forward to four years down the road? A feature by Astrid Fiano on DOTmed.com shares the provisions that we can expect are in place by 2014, and we are sharing some of them with you.

As far as Medicare is concerned, an Independent Payment Advisory Board that will lower the per capita rate of growth in Medicare spending will be put in place. The function of the Board will be to develop and recommend ways to reduce per capita growth rate should Medicare exceed the projected growth rate set forth annually by the Chief Actuary of the Centers for Medicare & Medicaid Services.

An expansion of the eligibility for Medicare coverage will be expanded to include the non-elderly whose incomes are 133 percent of the poverty level or less.

In terms of prevention and wellness, employers are given the option to offer rewards to employees for participation in a wellness program. These rewards may include premium discounts, cost sharing waivers or other benefits that are up to 30 percent of the cost of coverage. The percentage may be increased to 50 percent of the cost of coverage, if deemed suitable.

Taxes will also change by 2014, with the imposition of an annual, non-deductible fee on the health insurance sector; this will be allocated, according to Fiano, by market share throughout the industry.