Healthcare Presentation
Transcript: OR - Small group health insurance is typically offered on a guaranteed-issue basis, meaning that you cannot be denied coverage due to the health status of your employees or their dependents Obama's Plan How will Romney affect Retirees? Romney's Plan Obama's Plan Obama's Plan How will Romney affect families with an ill child? How will Romney affect small businesses? Healthcare How will it affect YOU? How will Obama affect small businesses? On March 23, 2010, President Obama signed the Affordable Care Act. The law puts in place comprehensive health insurance reforms that will roll out over four years and beyond, with most changes taking place by 2014. Example 1: Auto Repair Shop with 10 Employees Gets $24,500 Credit for 2010 Main Street Mechanic: Employees: 10 Wages: $250,000 total, or $25,000 per worker Employee Health Care Costs: $70,000 - 2010 Tax Credit: $24,500 (35% credit) - 2014 Tax Credit: $35,000 (50% credit) Romney's Plan Romney's Plan How will Obama affect Retirees? Until now, plans could refuse to accept anyone because of a pre-existing health condition, or they could limit benefits for that condition. starting in 2014, these protections will be extended to americans of all ages, including adults. http://www.healthcare.gov/law/features/choices/pre-existing-condition-insurance-plan/mn.html - Small group employers are typically defined as those with 2-50 employees Under the Affordable Care Act, health plans cannot limit, deny benefits or deny coverage for a child younger than age 19 simply because the child applied to join the plan How will Obama affect families with an ill child? Now, under the health care law, plans that cover children can no longer exclude, limit, or deny coverage to your child under 19 solely based on a health problem or disability that your child developed before you applied for coverage.