2011 Year in Review: Eight Ways the Health Care Law Helps You
As we ring in the New Year, we also want to take a minute to reflect on the progress we made in 2011. I’m proud to say that we had a very productive year for protecting the health of all Americans, especially those who are least able to help themselves. From strengthening Medicare to expanding access to preventive services to holding insurance companies accountable – young adults, families, and seniors have begun to see benefits from the health care law that took effect in 2010.
Here are eight important ways that you or your family might have benefited from the health law in 2011:
Making Sure More Americans Have Health Coverage – 2.5 million more young adults have health insurance coverage thanks to a provision in the health law allowing young adults to remain on their parents’ health insurance until age 26. This means more young adults in this country can now go on and live their lives with less worry about visiting their doctor when they get sick, or facing catastrophic medical bills if they are in an accident.
Families around the country are benefitting from this part of the law, including families like the Houghs, whose daughter Natalie was diagnosed with a rare heart condition after suffering cardiac arrest at school. Her condition requires a lifetime of medication and care. Now, thanks to the health care law, Natalie can stay on her family’s plan and has started college. And by the time she turns 26 it will be illegal for a plan to deny coverage to anyone, regardless of their health, and Natalie will have access to a choice of quality, affordable health plans.
Shedding Light on Insurance Companies – Prior to the Affordable Care Act, insurance companies in too many states were able to raise their rates without explaining their actions. But now, insurers who want to hike their rates by 10%or more have to explain and justify those increases in writing. Experts will scrutinize those explanations and, in many cases, can tell the insurer to reduce their price.
As a result of this law, over the last year, 42 states, the District of Columbia and the five U.S. territories have stiffened their oversight of proposed health insurance rate increases. And results are beginning to come in. For example, Connecticut’s Insurance Department rejected a 20% rate hike by one insurer. And Oregon chopped the rate increase by one of its largest insurers almost in half, saving money for 60,000 people.
Giving You More Value for Your Dollar – A new consumer protection took effect in 2011 called the 80 / 20 rule. It makes sure that at least 80%of your premium dollars are being spent on health care and improving your care – not on advertising and executive salaries. If your insurer fails this test, you get a rebate, starting this summer. This rule makes sure that you get your money’s worth from your health insurance company.
