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Recently, President Obama and the U.S. government passed a Health Care Reform Bill that is likely to see the greatest reform in the health care system since 1965 when Medicare was first introduced. These changes will affect in some way or another every U.S. citizen. Some people will benefit greatly from the mandatory changes. Others will find themselves paying higher taxes and premiums, depending on their income levels. The changes are to come into effect gradually over the next four to 10 years with some changes being implemented immediately. Here’s a brief overview of some of the most significant changes in the Health Care Reform Bill.

Health Care for Uninsured Persons with Preexisting Conditions

Perhaps one of the most significant changes is that by 2014, health insurance companies will no longer be allowed to deny coverage on the basis of preexisting medical conditions. To fill the gap while this is being instituted, people with preexisting conditions will in the interim be given access to health care through a temporary high-risk pool. This change is to start nine months from the enactment of the bill.

Health Cover for Children with Preexisting Conditions

Like adults, children with preexisting medical conditions are also no longer denied coverage. This is one of the first changes to be implemented in the health care reform policy and will come into effect six months after the final enactment.

Free Preventative Screenings for Medicare

Up until this point in time, Medicare policy holders had to pay co-payments for medical consultations, including preventative screenings and check-ups. From January 2011, there will no longer be any co-payments on preventative care. All preventative screening tests and consultations will be covered in full by Medicare. In addition, preventative services will be exempt from deductibles.

No More Insurance Rescission

This reform is to provide great benefit to people who faithfully pay insurance premiums over the years and who may require extensive medical treatment later in life. Previously insurance companies had a habit of rescinding the policy a few months after a person became ill, leaving them without medical coverage when they needed it most. Coming into effect six months after the enactment of the bill, insurance companies will no longer be allowed to cancel policies on this basis.

Reforming the Medicare Part-D Donut Hole

Many Medicare beneficiaries who have regular prescriptions are affected by the “donut hole.” This essentially means that there is a gap in the payment policy which needs to be filled by the patient in order for them to get their medication. This benefit sees people receiving a $250 rebate immediately for affected policy holders. Starting from 2011 the bill implements a 50 percent discount on brand name medication for seniors who find themselves in the donut hole. The aim is that by 2020, the donut hole will be completely eliminated. Assistance for Early Retirees

Owing to the recession, many companies offered more elderly employees early retirement. The bill helps to create immediate relief for businesses by offering a temporary re-insurance program to help them offset the costs of health care benefits of retirees between the ages of 55 and 64 years of age. The change comes into effect 90 days after the enactment of the bill and is due to end once the State Health Insurance Exchanges become available.

The End of Lifetime Coverage Limits

Previously, health insurance companies were allowed to implement lifetime coverage limits. This meant that coverage could be cancelled if the policy holder exceeded their expected lifespan. Coming into effect six months after the final enactment of the bill, health care insurance policies will no longer be able to implement lifetime coverage limits.

Tax Credits for Small Businesses

Starting in 2010, small businesses who offer employees health care insurance benefits will receive tax credits up to 35 percent of the cost of the premium payments. This is provided as an incentive for more small businesses to have their employees on a health plan. From 2014, the tax credit will increase to 50 percent of the insurance premiums paid when health care becomes mandatory.

Greater Accountability from Health Insurance Companies

Starting from January 2011, health insurance companies will be required to prove that they are spending at least 80 percent of policy holders’ insurance premiums on actual health care medical expenses. This is to ensure that policy holders are being looked after and that the premiums are not being used for marketing campaigns or executives’ salaries. Larger companies will have to account for 85 percent of their spending. Any health insurance companies not meeting this requirement will be required to rebate their policy holders. Extended Coverage for Young Adults

This provides relief for young adults up to the age of 26 years. They will now be allowed to stay on their parents’ policies until that age and receive medical benefits. This is subject to the parents agreeing to this option.

More Health Care Centers and Staff

The bill has assigned funding to increase the number of community health care centers and to train up much needed medical staff. Specific programs to fund the training doctors, nurses and other health care professionals are to be implemented.

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Precision Senior Marketing (PSM), an industry leading Medicare supplement FMO, announced today that one of its leading carriers, Sentinel Life, is now offering a significant commission increase to independent insurance agents where the Sentinel Life Medicare supplement product is available.

The CEO of PSM, Lucas Vandenberg stated “As an exclusive distributor of Sentinel Life’s new Medicare supplement product, we are committed to extolling the benefits of the product, such as its high paying commission level and competitive premiums for seniors. I’m confident this combination will greatly appeal to senior market insurance agents throughout the country.”

Since 1954 Sentinel Life Insurance Company has provided quality insurance protection and world class customer service to both agents and consumers alike. For 2010, Sentinel Life Medigap modernized plans are now available in 16 states, including Arizona, California, Colorado, Iowa, Idaho, Kansas, Montana, Nebraska, New Mexico, North Dakota, Oklahoma, South Dakota, Texas, Utah, Washington, and Wyoming.

On Sentinel Life’s website, it states that its Sentinel Plans Medicare Supplement insurance product line will provide standard plans A,B,C,D & F and Select plans C, D, & F.

Annabelle Castillo, a PSM agent, had this to say about the increase, “With 40+ million seniors today and 8,000+ baby boomers joining every day, it’s no wonder why Sentinel Life is aggressively adapting its business strategy to attract more agents.”

PSM encourages independent, senior market insurance agents to visit its website at http://www.psmbrokerage.com and/or call 1-800-998-7715 to learn more about the commission rate increase by Sentinel Life Insurance Company. And with PSM’s electronic licensing process, agents can get a top-level, direct contract for this product in as little as 5 minutes.

As a full-service, national insurance marketing organization located in Austin, Texas, Precision Senior Marketing, LLC is dedicated to recruiting, servicing, and supporting the best senior market insurance agents in the United States.

Looking for the best medicare supplement contracts, then visit Alex Stone’s medigap contracts site for details.

As of late, there have been a lot of heated discussions and talk about who the health care reform will help, and how it will effect Americans. Although many are opposed to this health care reform, the true is that this plan will help many Americans who are currently trying to survive each day without any health care coverage.

The first group that this plan will help will be those adults who are low income who can’t afford health insurance. This group of American’s is one of the groups that the current system does not accommodate. Basically Medicaid, which currently covers the children of these lower income adults and of course those that are pregnant will now cover low income adults as well.

The next group that will be covered by this plan are high school and college graduated that are no longer covered under their parents medical insurance anymore. These individuals are left just out of school with high student loans to play, and therefore not enough funds to pay for medical coverage. Under the new health plan, these Americans will be allowed to remain under the coverage of their parents until they are 26 years of age. This will give them sufficient time to find a job and get their fiances in order before they are required to find medical coverage for themselves.

Thirdly, those with health problems will be aided under the new plan because they will not be forced to live without insurance merely because they have been diagnosed with a serious disease or illness. Although this will not really take effect until the year 2014, those who have been denied health insurance because of their illnesses have a new hope.

While this plan has a lot of faults as well as benefits it is important to look at who will be helped by such a health care plan. Just because some of us are lucky enough to have health insurance coverage it is important to remember that it is very easy to become one of those with a serious health issue or loss of employment that could leave anyone of us struggling to find health insurance coverage.

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