President Obama signed the Health Care Act on March 23 of 2010 and how will the bill effect health insurance in Las Vegas and Nevada? There are still a lot of unresolved questions and some concerns about funding of this new bill. Below is a very general overview of what to expect in the near and distant future. The Insurance Center will monitor all the developments closely to make sure our customers are getting the most coverage while paying the least amount in premiums. It is time to keep the money in your pocket, not the health insurance company’s pocket.
2010:

· Small business tax credit
· National risk pool is created. However there is a question on how many this will help given the limited amount of funding
· Lifetime benefit limits are not allowed and cancellation of insurance based is not allowed unless fraud is involved
· Preventative services will be paid for by insurance companies
· Allows your dependents to be covered until age 26
· No Pre-existing condition exclusions for dependent children 19 or younger

2011
· Forms and documents will be uniform with a goal to compare plans easier
· Insurance companies are required to allocate a larger portion of revenue to health care
· Your W2 will now have the value of your health insurance paid by your employer
· Annual fee for manufacturers of brand name drugs
· Community health insurance offices will be funded for those without insurance

2012
· Hospitals are held accountable for preventable re-admissions and may face a reduction in payable Medicare benefits
2013
· Individuals making $200,000 a year or couples making $250,000 would have a higher Medicare payroll tax of 2.35% on earned income and a new tax of 3.8% on unearned income
· Flexible spending accounts can be funded up to $2,500 a year
· Itemized deduction for health care expenses are only allowed if the amount is 10% of income
· Manufactures of medical devices will have a 2.9% sales tax. Some exemptions apply
· Elimination of employer tax deductions for Medicare part D subsidy for employers that maintain prescription drug plans for retirees
2014
· Addition of new taxes on health insurers
· Coverage gap in Medicare prescription benefit is fully phased out
· Individual and employer coverage responsibilities are effective.
· Individual affordability tax credits are created and small business tax credits are expanded
· State health insurance exchanges are fully funded and operational
· All Pre-existing condition exclusions are prohibited
· Annual and lifetime dollar limits are eliminated for all essential health care
· Guaranteed issue, guaranteed renewability health insurance plans
Tax (“Cadillac tax”) imposed on employer sponsored health insurance plans
Contact us today we can help you will all of your insurance needs. This site is dedicated to Nevada Health Insurance, Las Vegas Health Insurance and Health Insurance in general. Please visit us at www.insuranceCenterNV.com for all your insurance needs.

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