Major Health Care Reforms Take Effect On January 1

[lakhota]

Starting Saturday, two of the new health care law's most significant reforms take effect -- or at least begin to take effect.

The first will dramatically clamp down on insurance industry waste, abuse, and excesses. Starting on New Year's Day, insurance companies will have to spend at least 80 percent of the revenues they receive from premiums on actual health care. Not on salaries or overhead.

Like so many of the law's early reforms, the impact of a strict "medical loss ratio" will be invisible to most consumers. But don't mistake that for insignificance. The bill's most strident critics cite this one provision as the basis for the claim that the government is "taking over" the health care system. That's a false claim, no matter how you slice it -- this is about insurance companies, not, say, hospitals or pharmaceuticals, and those insurers are all still private. They'll just have to play by stricter rules.

The other is much more visible. Senior citizens -- a demographic that's skeptical of the bill -- will see real benefits. In 2011, the law will begin to close the Medicare Part D coverage gap -- the infamous "donut hole." Seniors who reach the donut hole will now receive a 50 percent discount on brand-name drugs, the first step in a 10 year plan to fill the hole completely. Seniors will also now receive free annual checkups, screenings and other preventive care.

Other changes will also kick in. For a comprehensive list, see here. But these are the biggies. Add them to other reforms that have already taken effect -- such as a ban on discriminating against children with pre-existing conditions, and the new right parents have of keeping their children on their family insurance plans until they're 26 years old -- and you're talking about a bunch of stuff that would be very unpopular to repeal.

tpmdc.talkingpointsmemo.com/2010/12/major-health-care-reforms-take-effect-january-1.php?ref=fpa

[deziloooooo]

"least 80 percent of the revenues they receive from premiums on actual health care. Not on salaries or overhead. "

MMMM I wonder if that will affect my sons {and his cohorts } bonuses... he usually gets a nice one if they meet their goals .... no not the millions you read about for wall street types , but five figures..nice incentive ..they do work them hard .
Thanks for keeping us informed on the health reforms..

In exploring the link you put up Lakhota I came across this link to the time lines of how and when the different parts of the inititive will be implimented, this should answer the critics who are complaining they have no clue as to what the bill actually covers , it's all a big secret..according to these links , the secret is out of the bag.

healthreform.kff.org/timeline.aspx

[lakhota]

Implementation Timeline

The implementation timeline is an interactive tool designed to explain how and when the provisions of the health reform law will be implemented over the next several years.

You can show or hide all the changes occurring in a year by clicking on that year. Click on a provision to get more information about it. Customize the timeline by checking and unchecking specific topics.

Timeline: healthreform.kff.org/timeline.aspx

[deziloooooo]

A little surprised that there have been no comments on this thread..it seems there have been so many posts on the bill , so many questions of what is in it, why the secrecy and now here it is.
Nada on the whole thing.
No one really cares? Just a way to diss the side that was responsible for it?
Just a thought..possible just a slow day, to much football?

[Politically_Incorrect12]

Jan 1, 2011 1:15:00 GMT -5 @lakhota said:

Starting Saturday, two of the new health care law's most significant reforms take effect -- or at least begin to take effect.

The first will dramatically clamp down on insurance industry waste, abuse, and excesses. Starting on New Year's Day, insurance companies will have to spend at least 80 percent of the revenues they receive from premiums on actual health care. Not on salaries or overhead.

Like so many of the law's early reforms, the impact of a strict "medical loss ratio" will be invisible to most consumers. But don't mistake that for insignificance. The bill's most strident critics cite this one provision as the basis for the claim that the government is "taking over" the health care system. That's a false claim, no matter how you slice it -- this is about insurance companies, not, say, hospitals or pharmaceuticals, and those insurers are all still private. They'll just have to play by stricter rules.

The other is much more visible. Senior citizens -- a demographic that's skeptical of the bill -- will see real benefits. In 2011, the law will begin to close the Medicare Part D coverage gap -- the infamous "donut hole." Seniors who reach the donut hole will now receive a 50 percent discount on brand-name drugs, the first step in a 10 year plan to fill the hole completely. Seniors will also now receive free annual checkups, screenings and other preventive care.

Other changes will also kick in. For a comprehensive list, see here. But these are the biggies. Add them to other reforms that have already taken effect -- such as a ban on discriminating against children with pre-existing conditions, and the new right parents have of keeping their children on their family insurance plans until they're 26 years old -- and you're talking about a bunch of stuff that would be very unpopular to repeal.

tpmdc.talkingpointsmemo.com/2010/12/major-health-care-reforms-take-effect-january-1.php?ref=fpa

So the Medicare Part D plan that Dems have been blasting as being too expensive, will not be more expensive...and the government will dictate how much a business can pay out? Sounds more like a bunch of crap where the government can promote class warefare in saying that "those evil rich executives shouldn't earn so much." I wonder how far people are willing to let this one go...probably only as far as it doesn't affect them personally.

[Politically_Incorrect12]

Jan 1, 2011 15:15:37 GMT -5 deziloooooo said:

A little surprised that there have been no comments on this thread..it seems there have been so many posts on the bill , so many questions of what is in it, why the secrecy and now here it is.
Nada on the whole thing.
No one really cares? Just a way to diss the side that was responsible for it?
Just a thought..possible just a slow day, to much football?

Many think it's a bad idea for the government to dictate how much a company can charge or pay.